The growth of the SCADA market is majorly driven by increased adoption of Industry 4. 0 solutions using SCADA systems, high demand for industrial mobility solutions for efficient management of process industry, and use of software platforms such as IoT and artificial intelligence.
New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "SCADA Market with COVID-19 Impact by Offering, Component, End User And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04855268/?utm_source=GNW
COVID-19 has emerged as a global pandemic that has spread in several countries worldwide and disrupted various industries around the world.The prominent players across industries have been affected by this pandemic.
The foreseeable decline in the growth of end-user applications may have a considerable direct impact on the SCADA market.
Services segment expected to hold the largest market share during the forecast period.
The services segment is expected to dominate the SCADA market by contributing largest share during the forecast period.Many of the industries in the Americas and Europe have already implemented SCADA systems.
Thus, there are fewer opportunities in terms of the implementation of new SCADA systems.However, in terms of modification of SCADA systems, there are huge opportunities.
After the installation of SCADA systems, organizations need proper modification and maintenance throughout the life of SCADA systems.Service offerings, especially cybersecurity, are considered while customizing or modifying 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.
Oil & gas industry is expected to contribute largest share of market for process industries during the forecast period.
The oil & gas industry is anticipated to contribute the largest share to the SCADA market in 2021.SCADA systems enable oil & gas companies to remotely monitor facilities and gain insights about daily inventory and equipment condition, thus compensating for the shortage of skilled workforce for collecting equipment data.
These systems also reduce the risk to the lives of the workforce and improve overall safety and efficiency.
APAC is projected to grow at the highest CAGR during the forecast period.
SCADA market in APAC is expected to grow at the highest CAGR during 2021?2026.APAC is the production hub for automation technologies due to the presence of major companies such as Yokogawa Electric, Mitsubishi Electric, and OMRON.
Renewable energy, smart grids, water & wastewater, and transportation sectors are expected to drive the growth of the SCADA market in APAC. Automation is increasing in APAC because of the rising necessity for high-quality products, along with increased production rates.
Break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 35%, Tier 2 – 50%, and Tier 3 – 15%
• By Designation – C-level Executives – 40%, Directors – 45%, and Others – 15%
• By Region – North America - 40%, Europe – 20%, APAC – 35%, and RoW – 5%
Schneider Electric, Emerson Electric, Rockwell Automation, ABB, Siemens, Honewell International, and Mitsubishi Electric, among others, are some of the key players offering SCADA systems.
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 (APAC), 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 ecosystem.
• The report includes pricing analysis, patent analysis, ecosystem analysis as well as technology, trade and case study analysis pertaining to SCADA.
• The key drivers, restraints, opportunities, and challenges pertaining to the SCADA market have been detailed in this report.
• Detailed information regarding the COVID-19 impact and related updates on the SCADA market has been provided in the report.
• The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues and market share.
Read the full report: https://www.reportlinker.com/p04855268/?utm_source=GNW
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