The global Electrical SCADA Market is expected to grow from an estimated $2.29 billion in 2017 to $3.29 billion by 2022, at a CAGR of 7.48%, during the forecast period. This growth is primarily driven by the increasing investments in electrical networks, adoption of remote monitoring and control solutions, digitalization of the power sector, need for automation in the power industry, and rising pressure to reduce losses in transmission and distribution. North America is likely to continue to hold the largest share in the electrical SCADA market. The second largest market share was held by Europe.
The electrical SCADA segmented by application into generation, transmission, and distribution. Transmission is the largest segment of the market, by value. Rising investments in transmission networks from countries, such as the US, China, and India, are expected to drive the electrical SCADA market during the forecast period.
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North America is expected to be the largest market for electrical SCADA
North America is the largest and one of the most advanced markets for electrical SCADA. The increasing adoption of investments by Transmission System Operators (TSOs) and Distribution System Operators (DSOs) in electrical networks and a strong presence of prominent SCADA suppliers, especially in the US and Canada, drive the market growth in the region.
North America is projected to be the largest market for electrical SCADA due to increasing adoption of SCADA by power operators and service providers and the strong presence of prominent electrical SCADA software and system suppliers, especially in the US and Canada.
Asia Pacific expected to be the fastest growing market for electrical SCADA
Asia Pacific is the fastest-growing market for electrical SCADA due to the recent T&D developments in India and China. The increase in automation and digitalization activities is likely to boost the demand for electrical SCADA during the forecast period. The increasing investments in electrical networks would further raise the demand for the electrical SCADA market in the near future.
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The master terminal unit (MTU) is expected to be the largest segment in the electrical SCADA market, by component, in 2017. MTU basically operates as a master controller and hence it is one of the most important components for remote monitoring. Countries such as India, China, and Germany are showing a rapid growth in the MTU segment due to recent developments of generation plants and increase in the dependency on renewable sources in remote areas.
Some of the global players in this Electrical SCADA Market include ABB (Switzerland), Siemens (Germany), Schneider (France), Rockwell Automation (US), Emerson (US), and Mitsubishi (Japan).
