High Demand for Supervisory Control and Data Acquisition (SCADA) Systems from Power Sector to Fuel Growth
With rising awareness among consumers regarding the ability of supervisory control and data acquisition (SCADA) systems to reduce defects in output, detect faults in machinery in real time, and help with the reduction of production cost, the demand for SCADA is all set to be high. Owing to the various benefits associated with the SCADA systems, many oil and gas industries as wellas electrical sectors are adopting these systems so as to optimize their production, while at the same time reducing their losses. Due to all these factors, the global supervisory control and data acquisition or SCADA market is estimated to rise from US$25.56 bn in 2015 to US$40.18 bn by the end of 2024, expanding at a CAGR of 5.20% between 2016 and 2024, states a new report published by Transparency Market Research (TMR).
Given below are answers to some of the most important questions pertaining to the global SCADA market, as answered by TMR analysts:
Q. What are the factors boosting the growth of the SCADA market?
The SCADA market is mainly driven by the increased demand for these systems from across industries such as food and beverage, electric power, manufacturing, oil and gas, transportation, wastewater, chemicals, pharmaceuticals, and telecommunications. Of these, owing to the application of SCADA in grid automation projects, the electric power industry is expected to register the highest demand. Developing nations such as India and China are concentrating on improving their infrastructure and curb power transmission and distribution losses, for which SCADA systems are being increasingly demanded. Moreover, since SCADA systems help restore power outages, decrease manual labor by relocating affected areas remotely, and re-route power from excess capacity areas to areas approaching overload, and collect historical data. Thus, the demand for SCADA will continue over the years, driving the market.
Q. Which region is expected to lead in the coming years and why?
It is expected that North America will continue to lead in the market. The region accounted for 33.6% of the market in 2015, owing to the high demand for process automation in various industries such as the oil and gas as well as electric sectors, to name a few. The North American SCADA market is growing stronger every year on account of the continued financial and technological investments in the power sector, to enable reliable management. Europe is expected to be on the second position in terms of growth in the SCADA market, on account of a surge in the demand for power, growing concerns regarding shale gas purification, and the need to optimize processes in various industries.
Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/scada-market.htm
Q. Give some instances where SCADA has been used successfully to optimize management of opeartions
An app called S.C.A.D.A. has been developed and is being used in Monroe, to monitor the city’s 18 storm water drainage pump stations by making use of a computer or even a cell phone. SCADA is helping in the management and maintenance of drainage pump stations, remotely.
In the city of La Salle, SCADA is being used to operate sewage plants, factory production, electric supply grids, and water supply. The use of SCADA to resolve such issues and carry operations in an optimal way is expected to ensure a heightened adoption rate for these systems in the coming years.