Supervisory Control and Data Acquisition (SCADA) system plays a vital role in power system operation. SCADA mainly helps in monitoring and controlling of an equipment or plant in several industries, restoring of power after an outage, evenly distributing the excess power to overloading regions, and reducing the manpower by controlling the electric power system. The increasing application of SCADA across the electrical power industry has substantially increased the demand for electrical SCADA, thereby propelling the growth of the global market.
Market overview
The global electrical SCADA market that was value at USD 1.42 Billion in 2016 is expected to witness a growth of 7.48% CAGR during the forecast period from 2017 to 2022, reaching a size of USD 3.29 Billion by 2022.
On the basis of architecture, the hardware segment dominated the market in 2017, and is also expected to hold the largest market share over the forecast period. This growth can be attributed to the rising investments mainly on automated devices in the power sector. Based on component, the master terminal unit segment held the largest market share in 2017, owing to the rapid growth of MTU segment in countries such as India, China, and Germany due to recent developments of generation plants and growing dependency on renewable sources in remote areas.
Among applications, the transmission segment currently accounts for the largest market share, owing to the increasing investments in transmission networks from nations, such as the U.S., China, and India.
How is the electrical SCADA market progressing, geographically?
Among regions, North America is currently the largest and one of the most advanced markets for electrical SCADA. It is also projected to hold the largest market share over the forecast period, mainly due to the rising adoption of SCADA by power operators and service providers and strong presence of leading electrical SCADA software and system suppliers, especially in the U.S. and Canada. Moreover, increased R&D activities in the wireless sensor network and increased use of big data analytics are estimated offer lucrative growth opportunities for the market. However, the market for electrical SCADA in Asia-Pacific is the fastest-growing market, owing to the growing investments in electrical networks that is likely to further lead to an increased demand for electrical SCADA in the near future.
What are the factors driving and inhibiting the market growth?
The growth of the global electrical SCADA market is being majorly influenced by the following factors:
- Increased investments in electrical networks
- Rising adoption of Industry 4.0
- Initiatives of governments toward the adoption of industrial automation
In addition, increasing number of smart city projects in developing nations, increased power generation capacities across the globe, and rising adoption of renewable energy sources are some more factors expected to create an array of growth opportunities for this market.
However, the high investment cost in setting up of the SCADA system is likely to be the major factor that may hamper the market growth. Moreover, increased cyber security risks is the key challenge to be overcome by the players involved in this market.
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Major players and strategies implemented
The worldwide market for electrical SCADA includes service providers such as ABB (Switzerland), Siemens (Germany), Schneider (France), Emerson (US), Rockwell (US), Honeywell (US), Advanced Control Systems (US), Open Systems International (US), Mitsubishi Electric (Japan), and Bentek Systems (Canada). These companies have adopted strategies such as partnerships & collaborations, new product launches, investments & expansions, contracts & agreements, and others, in order to expand their base as well as maintain their market position.
