Power SCADA Market
Power SCADA Market
New York, January 2024: According to a new research study by Global Insight Services (GIS), the Power SCADA Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 3.6 billion by 2033.
Power SCADA is a monitoring and control system for electric power distribution networks. It is used to monitor and control the flow of electricity from the power generation source to the end user. Power SCADA systems are used to manage the distribution of power from the power plant to the substations and from the substations to the end user. The system is designed to provide real-time information on the status of the power network, and to allow the operators to control the flow of electricity through the network..
Request Sample Pages of this Research Report
Global Power SCADA Market: Market Drivers and Trends
The key drivers of the Power SCADA market are the need for real-time monitoring and control of the power grid, the need to improve grid efficiency and reliability, and the need to reduce operational costs.
The power grid is a critical infrastructure that must be monitored and controlled in real-time to ensure its stability and reliability. Power SCADA systems allow utilities to do this by providing a centralized platform for monitoring and controlling the grid.
Power SCADA systems can also help utilities improve grid efficiency and reduce operational costs. By automating grid operations and providing real-time visibility into grid conditions, Power SCADA systems can help utilities optimize grid performance and reduce the need for manual intervention.
Global Power SCADA Market: Market Restraints and Challenges
There are a few key restraints and challenges in the Power SCADA market. Firstly, the high cost of these systems can be a challenge for some companies. Additionally, the complexity of these systems can make them difficult to implement and maintain. Additionally, the ever-changing nature of the power grid can make it difficult to keep these systems up-to-date.
Global Power SCADA Market Report Findings
The hardware segment is likely to hold the major share of the market in 2023
Based on architecture, it is segmented into software, hardware, and services. The hardware segment had the highest revenue share and is expected to continue to dominate the market over the period. This expansion might be ascribed to increased demand for electricity SCADA in the APAC area. The Mexican government encourages firms to use renewable energy and modernize their industrial grids. The majority of grid modernization work in Mexico has included integrated communication technologies like SCADA systems in substation and distribution automation. The hardware category is predicted to increase at the fastest during the forecast period, owing to the growing need for cutting-edge software and the capacity to manage large amounts of data while avoiding assaults.
The Remote Terminal Unit (RTU) segment is likely to hold the major share of the market in 2023
Based on component, it is bifurcated into Master Terminal Unit (MTU), Remote Terminal Unit (RTU), Human Machine Interface (HMI), Programmable Logic Controller (PLC), Communication System, Intelligent Electronic Device (IEDs), and Others. The Remote Terminal Unit (RTU) segment has dominated the market and expected to expand the fastest. In a power SCADA system, a remote terminal unit (RTU) is an electronic device deployed at a remote site to gather data via actuators and sensors and communicate the information back to the master terminal station, generally based on the master station’s request. RTUs are geographically spread across several locations, gathering and transmitting real-time data to the master station via LAN/WAN (radio signals, telephone lines, cable connections, satellite, and microwave media, among others). The number of RTUs placed in any electricity SCADA system to gather real-time information greatly influences the accuracy of the control system.
The Oil and Gas segment is likely to hold the major share of the market in 2023
Based on end user, it is segmented into Oil & Gas, Water and Wastewater, Metal and Mining, Chemicals, Transportation, and Others. The Oil & Gas segment is expected to be the largest segment in the Power SCADA Market. Oil and gas is one of the most important sectors in terms of market revenue creation. This industry’s processes are extremely complicated, time-consuming, and important. Power SCADA systems are widely used in the oil and gas industry. In these industries, using power SCADA systems ensures safety, dependability, and profitability in oil and gas operations. Extreme operational conditions, financial limits, profit concerns, safety concerns, and potential environmental threats are all part of the sector. Oil and gas facilities are vulnerable to accidents that can harm people, assets, and the environment both inside and outside of the facility. Power SCADA systems, in conjunction with power management, may significantly lower the risk of accidents at these facilities.
The North America region is accounted for the majority of market share in 2023
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region Power SCADA Market had the highest revenue share followed by North America. China and Japan, which are among the region’s and the world’s largest users, account for the lion’s share of the power SCADA market. The power SCADA market in this area is predicted to be driven by fast-growing economies, rising population demand, the need for high-quality goods, and higher production rates. The market in China is predicted to expand primarily due to an increase in the number of manufacturing facilities in China, which is likely to produce a significant need for electricity SCADA. APAC has a significant demand for process automation and instrumentation due to increased expenditures in power transmission and distribution in the industrial sector. All of these reasons are projected to fuel the growth of the Asia Pacific power SCADA market.
Have a question for our analyst
The key players studied in the global Power SCADA Market are ABB, Siemens, Emerson, Schneider Electric, Mitsubishi Electric, Honeywell, Yokogawa Electric Corporation, Rockwell Automation, PSI AG, and Motorola Solutions.
Global Power SCADA Market: Recent Developments
- In February 2021, Honeywell signed a deal with SEPCO Electric Power Construction Corporation to offer safety and security systems, linked control, and telecommunications services to a shipyard under construction in Saudi Arabia.
- In August 2020, Schneider collaborated with Temasek to buy Larsen and Toubro’s electrical and automation division. Schneider Electric holds 65% of the purchased L&T business segment, with Temasek owning the remainder. This purchase will boost Schneider Electric’s low-voltage solutions and Industrial Automation division, as well as assist it in developing in the Middle East, Africa, and East Asia since L&T has significant R&D and engineering skills
Global Power SCADA Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Power SCADA Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future global Power SCADA Market potential from 2023 to 2033 in terms of revenue($ Million), and Volume(Units).
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Power SCADA Market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Security Robots industry.
Global Power SCADA Market Segmentation
- Master Terminal Unit (MTU)
- Remote Terminal Unit (RTU)
- Human Machine Interface (HMI)
- Programmable Logic Controller (PLC)
- Communication System
- Intelligent Electronic Devices (IEDs)
- Oil & Gas
- Water and Wastewater
- Metal and Mining
- North America
- The U.S.
- The UK
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Schneider Electric
- Mitsubishi Electric
- Yokogawa Electric Corporation
- Rockwell Automation
- PSI AG
- Motorola Solutions