Asia-Pacific to Dominate the Supervisory Control and Data Acquisition Market through 2026
Rise in the infrastructural expenditure
and growing demand for automation is expected to drive the demand for global supervisory
control and data acquisition market in the forecast period.
According to TechSci Research report, “Global
Supervisory
Control and Data Acquisition Market By Offering (Hardware, Software, and
Services) By Component (Remote Terminal Unit, Programmable Logic Controllers,
Human Machine Interface, Communication System) By Type (First Generation,
Second Generation, Third Generation, Fourth Generation) By Application
(Manufacturing, Energy & Utility, Oil & Gas, Chemical &
Petrochemicals, Transportation, Telecom and Others), By Region, Company
Forecast & Opportunities, 2026”, The global supervisory control and
data acquisition market is expected to witness significant growth in the next
five years. Supervisory control and data acquisition system captures the data
from distant devices and allows the central computer to monitor and control the
process for a particular location. The adoption of these systems for monitoring
and controlling purpose reduces the efficiency of the organization and
meanwhile reduces the extra operational costs. The growing demand for wireless
sensor networks from prominent industry verticals such as oil and gas are
driving the growth of the market. Oil & gas plants are located in remote
areas and have harsh climatic conditions and the various elements of oil &
gas plants such as compressors, generators, tanks are monitored, controlled,
and managed by the supervisory control and data acquisition system. The rapid
development and software up-gradation of the existing software systems of wireless
sensor networks are making them compatible with the advanced automated systems
in several industries.
The COVID-19 outbreak across the world which has
been declared as a pandemic by World Health Organization has affected several
countries adversely. Leading authorities around the world-imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. Manufacturing units were temporarily shut down which
affected the market growth adversely. Workers moved back to their native places
which led to the shortage of workforce at the manufacturing units. Disruption
in the supply chain along with the restrictions imposed on the import and
export activity along with the cross-border trade impacted the market growth
negatively.
However, the fluctuation in the prices of oil
which is directly impacting the capital investments and the chances of
cyber-attacks may restrain the growth of the global supervisory control and
data acquisition market.
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Global supervisory control and data acquisition market is
segmented offering, component, type, application, regional distribution, and
company. Based on the component, the market can be divided into remote terminal
unit, programmable logic controllers, human machine interface, and
communication system. The remote terminal unit segment is expected to dominate
the market in the forecast period, 2022-2206 as it is one of the core
electronic components of the supervisory control and data acquisition systems.
It collects the data and converts it into the transmittable format and then
transfers it to the main system. The high demand from the oil & gas
industry for the extraction and exploration of shale gas and others is fueling
the market growth. Based on offering, the market is divided into hardware,
software, and services. The hardware segment is expected to hold the largest
market share in the forecast period owing to the high cost of installing
advanced hardware components. Based on application, the market can be divided
into manufacturing, energy & utility, oil & gas, chemical &
petrochemicals, transportation, telecom, and others. The energy and utility
segment are expected to witness growth in the next five years owing to the rise
in energy requirements across the globe and the growth in awareness about the
adverse effects of conventional fuels and the adoption of non-conventional
sources of energy.
IBM Corporation, Omron Corporation, Schneider Electric SE,
Rockwell Automation Inc., Siemens AG, General Electric Company, Cisco Systems,
Inc, ABB Ltd., Alstom SA, Honeywell International Inc. are the leading players
operating in global supervisory control and data acquisition market. Service
Providers are increasingly focusing on research and development process to fuel
higher growth in the market. To meet evolving customer demand with respect to
better efficiency and durability, several supervisory control and data
acquisition providers are coming up with their technologically advanced
offerings.
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“High-end
investments by the market players for technological advancement of the existing
infrastructure and the rise in adoption of advanced technologies such as
artificial intelligence, internet of things, amongst others to improve the
efficiency and production of the industries is contributing to the market
growth. The increasing demand for smart factories which can provide the real-time
analysis and provide the monitoring facility and also can predict the need and
time for maintenance and other necessities required to efficiently run the
organization is expected to propel the supervisory control and data acquisition
market till 2026”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Supervisory
Control and Data Acquisition Market By Offering (Hardware, Software, and
Services) By Component (Remote Terminal Unit, Programmable Logic Controllers,
Human Machine Interface, Communication System) By Type (First Generation,
Second Generation, Third Generation, Fourth Generation) By Application
(Manufacturing, Energy & Utility, Oil & Gas, Chemical &
Petrochemicals, Transportation, Telecom and Others), By Region, Company
Forecast & Opportunities, 2026” has evaluated the
future growth potential of global supervisory control and data acquisition
market and provided statistics & information on market size, shares, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global supervisory
control and data acquisition market.
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