COVID-19 Impacts: SCADA Market Will Accelerate at a CAGR of Over 5% Through 2020-2024 | Increased Extraction Of Shale Gas to Boost Growth

 

The scada market and it is poised to grow by $ 8.22 bn during 2020-2024, progressing at a CAGR of 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on Covid-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. are some of the major market participants. Although the increased extraction of shale gas will offer immense growth opportunities, high initial cost of implementation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Increased extraction of shale gas has been instrumental in driving the growth of the market. However, high initial cost of implementation might hamper market growth.

SCADA Market 2020-2024 : Segmentation

SCADA Market is segmented as below:

·         End-user

o    Oil And Gas

o    Manufacturing

o    Power

o    Water And Wastewater Treatment

o    Others

·         Geography

o    APAC

o    North America

o    Europe

o    MEA

o    South America

SCADA Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our scada market report covers the following areas:

·         SCADA Market size

·         SCADA Market trends

·         SCADA Market industry analysis

This study identifies growing demand for cloud-based SCADA systems as one of the prime reasons driving the scada market growth during the next few years.

SCADA Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the scada market, including some of the vendors such as ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. Backed with competitive intelligence and benchmarking, our research reports on the SCADA Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

 

COVID-19 Impacts: SCADA Market Will Accelerate at a CAGR of Over 5% Through 2020-2024 | Increased Extraction Of Shale Gas to Boost Growth

The scada market and it is poised to grow by $ 8.22 bn during 2020-2024, progressing at a CAGR of 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on Covid-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. are some of the major market participants. Although the increased extraction of shale gas will offer immense growth opportunities, high initial cost of implementation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Increased extraction of shale gas has been instrumental in driving the growth of the market. However, high initial cost of implementation might hamper market growth.

SCADA Market 2020-2024 : Segmentation

SCADA Market is segmented as below:

·         End-user

o    Oil And Gas

o    Manufacturing

o    Power

o    Water And Wastewater Treatment

o    Others

·         Geography

o    APAC

o    North America

o    Europe

o    MEA

o    South America

 

SCADA Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our scada market report covers the following areas:

·         SCADA Market size

·         SCADA Market trends

·         SCADA Market industry analysis

This study identifies growing demand for cloud-based SCADA systems as one of the prime reasons driving the scada market growth during the next few years.

SCADA Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the scada market, including some of the vendors such as ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. Backed with competitive intelligence and benchmarking, our research reports on the SCADA Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

 

Analysis of COVID-19 Impact | SCADA Market 2020-2024 | Increased Extraction of Shale Gas to Boost Growth

The SCADA market and it is poised to grow by USD 8.22 billion during 2020-2024, progressing at a CAGR of about 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Increased extraction of shale gas has been instrumental in driving the growth of the market. However, the high initial cost of implementation might hamper market growth.

SCADA Market 2020-2024: Segmentation

SCADA Market is segmented as below:

·         End-user

o    Oil And Gas

o    Manufacturing

o    Power

o    Water And Wastewater Treatment

o    Others

·         Geography

o    APAC

o    North America

o    Europe

o    MEA

o    South America

SCADA Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The SCADA market report covers the following areas:

·         SCADA Market Size

·         SCADA Market Trends

·         SCADA Market Industry Analysis

This study identifies the growing demand for cloud-based SCADA systems as one of the prime reasons driving the SCADA market growth during the next few years.

Technavio Identifies Top Three Emerging Trends for the Global SCADA Market in Process Industry Through 2020

The global supervisory control and data acquisition (SCADA) market in process industry report highlights the top three emerging trends predicted to impact market growth through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.

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“European countries are investing in new projects in the oil and gas sector to reduce their dependency on Russia, due to the Ukraine crisis. They are planning to build pipelines through Central Asian countries such as Turkmenistan, Kazakhstan, and Azerbaijan, and this development is expected to drive the global SCADA market significantly over the next four years,” added Vineeth.

Technavio’s market research study identifies the following three emerging trends that are expected to propel the global SCADA market in process industries:

·         Growing popularity of SCADA as a service

·         High demand for integrated DLP solutions

·         Increased adoption by SMEs

·         Increase in M&A

Growing popularity of SCADA as a service

SCADA as a service or SCADA in the cloud is likely to be a next logical step in the evolution of automation technology in process industries. SCADA end-users can significantly reduce costs, achieve greater flexibility, and enhance functionality by shifting to a cloud-based environment. SMEs face budget constraints and cuts that make it difficult to afford the initial investment in a SCADA system. Small facilities also cannot afford a dedicated technical staff to manage SCADA systems.

A cloud-based service shifts the task of maintaining and displaying data from the end-user to the service provider. It eliminates the expenses and problems related to the hardware layer of IT infrastructure. At the same time it enables users to view data on devices such as tablets and smartphones, and also through email and text messages.

We anticipate cloud-based SCADA solutions to reduce end-users' costs up to 80% compared to traditional SCADA systems in the process industry during the forecast period. Technavio predicts that 30% of oil and gas companies operating in In Southeast Asia and India will deploy their operations in the cloud by 2020, owing to the growing energy demand.

Use of mobile SCADA

SCADA systems are migrating from PCs to mobile devices. Authorized operators can remotely access data using a variety of devices such as iPads, tablets, and smartphones. These devices can be used as portable human machine interfaces (HMIs) to monitor remote equipment and enable field operators to assess the current condition of a process or piece of equipment quickly without the need for a workstation. Technologies embedded in smartphones, such as BLE beacons, NFC, and GPS, have further enabled the integration of SCADA with smartphones.

SCADA infrastructure is incorporating smart mobile devices to increase the capability of the entire system. It consists of a smartphone app deployed with each mobile worker, geo tags deployed in the control zones, and a central server equipped with real-time connections to equipment and other assets. Field operators have the access to real time data for configurations and repairs due to mobile SCADA. Thus, it does not require an operator in the control room to manage potential problems or abnormalities. Field technicians can also update the control system instantaneously from the field over mobile phones without visiting the control room to deliver the results to the operator.