Growing significance of real-time data for process analysis and predictive maintenance and rising adoption of IoT in manufacturing industries are key factors boosting the growth of SCADA market.
New York, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "SCADA Market by Offering, Component, End User and Region - Global Forecast to 2027" - https://www.reportlinker.com/p04855268/?utm_source=GNW
RTU component to account for the largest share of the SCADA market in 2022.
RTU is an electronic device and one of the core components of SCADA systems.It is used for collecting data, coding it into a transmittable format, and transferring it to the main system.
Several RTUs are put in a SCADA system for this purpose. Deep-sea exploration and extraction, along with shale gas exploration, contribute to the rising demand for RTUs, as oil & gas is the major end-user industry of SCADA systems.
Services segment to capture largest market share of SCADA in 2022
s SCADA system requires regular maintenance and modification services that primarily include providing increased security and latest updates related to the SCADA system. At present, there is a high demand for application-specific modification services, which has resulted in an increased number of services, including SCADA system recommendations, regulatory compliance, re-commissioning or restart assistance, and legacy system support and migration services. Only a few countries in the market have defined regulations related to cybersecurity while deploying SCADA systems. Oil & gas is considered as one of the most-affected industries due to cyberthreats. Hence, cybersecurity services are the highest priority in this industry.
Asia Pacific is expected to grow at the highest CAGR in the SCADA market during 2022-2027.
Asia Pacific is expected to grow at the highest CAGR in the SCADA market during the forecast period.Growing population, rising standards of living, and developing economies have led to rising demand for energy.
Automation is increasing in Asia Pacific because of the rising necessity for high-quality products, along with the increased production rates.The increasing energy demand would lead to the development of the energy sector, including oil & gas and power industries.
This, in turn, would generate the demand for automation products, including SCADA systems, in the Asia Pacific region.
Break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
• By Designation – C-level Executives – 30%, Directors – 45%, and Others – 25%
• By Region – North America - 25%, Europe – 20%, Asia Pacific – 45%, and RoW – 10%
The SCADA market has been segmented into offering, component, end user and region. The SCADA market has been studied for North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Reasons to buy the report:
• Illustrative segmentation, analysis, and forecast of the market based on offering, component, end user and region have been conducted to give an overall view of the SCADA market.
• A value chain analysis has been performed to provide in-depth insights into the SCADA market.
• The key drivers, restraints, opportunities, and challenges pertaining to the SCADA market have been detailed in this report.
• The report includes a detailed competitive landscape of the market, along with key players, as well as an in-depth analysis of their revenues
Read the full report: https://www.reportlinker.com/p04855268/?utm_source=GNW
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