The SCADA market is evaluated at US$22.946 billion for the year 2020 growing at a CAGR of 6.01% reaching a market size of US$34.519 billion by the year 2027.
Supervisory Control and Data Acquisition (SCADA) consists of different computers, user interfaces, and networked data communication to monitor critical infrastructure systems and the operation process. The most important aspect of SCADA is its ability to evolve with the ever-changing technology. SCADA systems are crucial for industrial organizations, as it allows them to control industrial processes locally or at remote locations, monitor, gather, and process real-time data, and record events into a log file, etc. These control systems consist of hardware and software elements. Furthermore, SCADA systems work well with many different types of enterprises owing to their wide range from simple configurations to large ones. Additionally, an effective SCADA system can result in significant savings of time and money. Moreover, numerous business owners in the oil and gas, energy, food and beverage, transportation, recycling, and other industries are drawn to SCADA because of its many alluring benefits, such as interoperability, scalability, communications, and support. These benefits allow these business owners to adopt these control systems as the foundation of their operations.
In the predicted timeframe, it is anticipated that the development of IoT and Industry 4.0 will accelerate the growth of the SCADA market
The need for real-time data to perform process analysis and predictive maintenance in industrial environments coupled with the growing demand for industrial robots are the key factors increasing the adoption of Industry 4.0 globally. Industry 4.0 revolutionizes the monitoring, automation, and analysis of supply chains through smart technology. It is powered by the industrial Internet of Things (IIoT) and cyber-physical systems, IoT, and cloud computing. Industry 4.0 aids the issue of human errors associated with the production process and allows most industrial processes and systems to go automated, which allows the production units to operate around the clock. Moreover, Industry 4.0 also incorporates automation infrastructure like SCADA or IoT, which aids the remote manufacturing process, and resourceful collection of real-time information to ensure optimum operations. Traditionally, SCADA involves the manual creation of analytical reports, but when IoT technologies are connected, this process may be effectively automated in less time and obtain high-quality insights. The market environment for SCADA has improved as a result of the introduction of IoT and the updating of current SCADA with various enticing aspects including scalability and data analytics. The necessity for efficient supply chains, quality products, and ongoing process optimization are driving the market’s expansion due to the increasingly strict regulatory requirements. Henceforth, these developments in the IoT and industry 4.0 segments are expected to propel the market for Supervisory Control and Data Acquisition (SCADA) during the anticipated period.
Additionally, the growing trend of digitalization is expected to augment the SCADA market in the coming years. The trend of digitalizing the operation is gaining momentum worldwide, countries are supporting, investing, and planning for digitally organized operations. For instance, the Government of India launched the Digital India flagship program with a vision to transform India into a digitally empowered society. Under the Digital India Program, the government approved the North East BPO Promotion Scheme to incentivize the BPO/ITES operations in North East Region. These government initiatives to bring digital transformations are expected to drive the SCADA market.
According to the analysts, the growth of the SCADA market is projected to be fueled by the numerous strategic deployments made by both public and private companies in the SCADA market on a global scale
Many businesses are stepping up their statistical approaches to improve their operations and market presence to fulfill the increased demand for data analytics and operational process management. For instance, in March 2022, CODRA a French developer of the Panorama Suite Platform, which is specialized in front-end communication, SCADA, and data historian launched its Panorama Suite 2022. This new version consolidated the company’s approach of putting the customer’s priorities at the front, whilst offering practical responses to the challenges of the digital transformation and green transition. Furthermore, this new version consolidated a two-level functional architecture with local SCADAs deployed across several sites, along with a centralized Hyper vision to provide you with centralized and secure asset management. Eventually, the deployment of these applications can reduce the end-users time and money. Consequently, these user benefits are expected to propel the SCADA market in the forthcoming years.
Based on components the market for Supervisory Control and Data Acquisition (SCADA) is expected to hold a significant share during the forecast period
Based on components, the SCADA market is segmented into Remote Terminal Units (RTUs), Programmable Logic Controllers (PLC), and SCADA Communication Systems. During the anticipated period, it is expected that the Programmable Logic Controllers segment will hold a notable share of the SCADA market. The PLC uses special programmable memory to store instructions and to implement functions like timing, sequencing, logic, and arithmetic among others to control machines or processes. Furthermore, can withstand changes in temperature, humidity, electrical noise, and vibration owing to its robust structure. Also, they can be programmed with a simple user-friendly coding language which makes it an easy and economical tool for businesses to maximize productivity. A PLC is commonly used in civil applications such as washing machines and for controlling traffic lights. Moreover, these PLCs are used in several industries to monitor and control production processes and building systems. Thus, the extensive use and benefits of the PLC systems are expected to drive the market for Supervisory Control and Data Acquisition (SCADA).
The Asia Pacific region is expected to hold a dominant share of the SCADA market during the anticipated timeframe
Based on Geography, the SCADA market is divided into North America, South America, Europe, and the Asia Pacific. Over the years, the Asia-Pacific region has become a production hub for the automation technology industry owing to the presence of manufacturing giant countries like China, India, and Japan among others. Furthermore, the major market players are companies like Mitsubishi Electric Corporation, Yokogawa Electric Co., and Hitachi Ltd., which operate their business in this region. This is another factor for the growth of the SCADA market in the Asia- Pacific region. Moreover, the increasing automation due to the rising need for high-quality products, along with rising production rates are driving the market growth. The rising industrial automation in this region is fueled further by rising investments and business expansions. Additionally, the water and wastewater sector, renewable energy sector, smart grids sector, and transportation sector are expected to drive the growth of the SCADA market in the Asia-Pacific region during the study period.
Hydrogen Fuel Cell Vehicle Market size worth US$6,717.320 million by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Hydrogen Fuel Cell Vehicle Market – which is projected from 2020 to 2027”.
The increasing need for automotive fuel and rising fuel prices throughout the world are the primary factors driving the expansion of the Hydrogen Fuel Cell Vehicle market, which will lead to a more sustainable future.
As per the report, the market about Hydrogen Fuel Cell Vehicle Market is expected to grow at a steady pace.
A hydrogen fuel cell is an electrochemical device that creates electric current or power through reactions involving chemical gases and oxidants. Reactants employed in fuel cells provide no environmental danger because water is produced as a byproduct of the chemical interaction between them. Fuel cells create electricity by splitting the positive and negative ions in the reactant using anodes and electrolytes. Because of its great efficiency, this technique is suitable for generating direct current, which can power cars and other vehicles. The fact that this technology is incredibly sustainable in nature makes it very promising for the future.
Concerns about the detrimental impacts of emissions from automobiles driven by conventional fuels have pushed the scientific community into eco-friendly options to power vehicles. Because onboard hydrogen storage in vehicles must be stable and safe, hydrogen fuel cells are predicted to cause the next wave of upheaval in the automobile industry.
Based on product type, the market for Hydrogen Fuel Cell Vehicles is segmented into passenger and commercial vehicles. Due to the development of several commercial and passenger vehicles that use hydrogen fuel cells the market is anticipated to grow in the coming years.
Based on geography segmentation, the market for Hydrogen Fuel Cell Vehicles is segmented into the Americas, the Asia Pacific, Europe, Middle East, and Africa regions. Asia-Pacific is one of the most profitable regions for hydrogen fuel cell car producers, with enormous development potential in this industry. Japan, China, and South Korea are very profitable markets for market participants because they have the infrastructure to enable the adoption of these cars. Europe and North America, on the other hand, are early adopters of new technology, accounting for a sizable proportion of the entire market. The availability of modern infrastructure in these locations contributes significantly to market expansion in these regions. Customers are becoming more interested in hydrogen fuel cell automobiles now that enabling infrastructure is accessible.
As a part of the report, the major players operating in the Hydrogen Fuel Cell Vehicle market, that have been covered are Nikola Corporation, Toyota Motor Corporation, Mercedes-Benz Group AG, Hyundai Motor Company, Honda Motor Company, and Bayerische Motoren Werke AG.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/hydrogen-fuel-cell-vehicle-market
This analytics report segments the Hydrogen Fuel Cell Vehicle market on the following basis:
Global 3D Scanner Market size worth US$3.019 billion by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market of the “3D Scanner Market – which is forecasted from 2020 to 2027”.
The key factors propelling the growth of the 3D scanner market are the rising adoption of reverse engineering in different industries such as automobile, defense, aerospace, and manufacturing, etc.
As per the report, the 3D scanner market is projected to grow at a moderate pace throughout the anticipated period.
3D scanners are used to digitally captures the shape of physical objects using a line of laser light. To swiftly produce point clouds with a high degree of accuracy, 3D laser scanners measure minute details. When measuring and inspecting curved surfaces and complex geometries that require enormous amounts of data for an accurate description and when doing so is impractical with the use of a touch probe, 3D laser scanning is the best option. Moreover, the technological advancements and developments in the 3D laser scanner market are further expected to augment the demand for these devices during the forecast period.
The 3D scanner market has been categorized based on type, range, technology, product, industry vertical, and geography.
By type, the 3D scanner market has been classified into Laser 3D scanners and structured light scanners. Laser 3D scanners are expected to hold a dominant share in the 3D scanner market during the forecast period owing to the ease of use and availability of laser scanners in the market.
Based on range, the 3D scanner market is segmented into short-range, medium-range, and long-range. Further, based on technology, the 3D scanner market is divided into laser triangulation, laser pulse-based, and laser phase shift-based.
By product, the market is segmented into CMM-based, tripod-mounted, and others.
By industry vertical, the 3D scanner market is divided into automotive, healthcare, aerospace and defense, oil and gas, construction, energy and power, mining, and others. According to the analysts, the oil and gas segment is one of the significant end-users for 3D scanners due to their capacity to assist in the creation of a 3D ground survey for any upstream or downstream site.
Geographically, the market is divided into North America, South America, Europe, the Middle East and Africa, and Asia-pacific. During the forecast period, the North American region is anticipated to hold a considerable share of the 3D scanner market due to the significant presence of leading companies in the area that provide cutting-edge 3D scanner goods as well as the expanding use of VDI/VDE rules that specify 3D scanner characteristics.
The COVID-19 pandemic had a significant impact on the 3D scanner market due to the variety of complexities in the market. The manufacturing and automotive industries faced a huge impact owing to stringent government measures and partial or complete lockdowns imposed by the government. Henceforth, the negative impact of the pandemic on the end-user industries affected the demand for 3D scanners.
As a part of the report, the major players operating in the 3D scanner market, that have been covered are REIGL Laser Measurement Systems GmbH, Carl Zeiss Optotechnik, Topcon Corporation, Trimble Inc., Atlas Corpo, Hexagon AB, FARO Technologies, Nikon Metrology NV, and CREAFORM.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/3d-scanner-market
This analytics report segments the 3D scanner market on the following basis:
Occupancy Sensor Market size worth US$1,375.279 million by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market “Occupancy Sensor Market – which is forecasted from 2020 to 2027”.
As per the report, the market in occupancy sensor market is expected to grow at a steady pace.
An occupancy sensor is an interior motion detector that recognizes the presence of a person and automatically activates lighting, temperature, or ventilation systems. Occupancy sensors are crucial in lowering energy use. These sensors help to reduce light pollution and may be utilized in both indoor and outdoor settings. During the anticipated period, the market will be propelled forward by growing demands for power devices and the active integration of smart occupancy sensor systems. Furthermore, these sensors are used in conjunction with intelligent parking systems to monitor the state of each parking place and efficiently control traffic congestion.
Increased investment in the creation of smart homes, company buildings, industries, and cities is expected to propel the market forward over the estimated period. Furthermore, technical breakthroughs in microphonics, image processing, and smart occupancy sensors are favorably influencing the market growth.
Based on the sensor type, the market of occupancy sensor market is segmented into passive infrared, ultrasonic, and dual technology. Ultrasonic sensors detect the presence of individuals by emitting ultrasonic sound waves into the environment and measuring the speed with which they return. On the other hand, passive infrared devices contain a clear line of sight between the sensor and the space’s inhabitants.
Based on the application, the occupancy sensor market is segmented into lighting, HVAC, controllers, security, and surveillance. The HVAC segment is anticipated to hold a significant amount of share the market. Furthermore, due to the rise of the implementation of such sensors by lighting companies, the lighting segment is also anticipated to drive market growth during the projected period.
Based on the end-user, the occupancy sensor market is segmented into residential, commercial, and, industrial. The residential and commercial sectors will drive growth for the occupancy sensors market.
Based on geographical segmentation, the occupancy sensor market is segmented nose North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America is predicted to be the market’s largest occupancy sensor market. These areas have the world’s largest market for occupancy sensors for residential and commercial buildings. Therefore, due to the increasing incorporation of these sensors into this region for the growing development of residential and commercial properties, the North American region will drive growth for the occupancy sensor market.
As a part of the report, the major players operating in the occupancy sensor market, that have been covered are Leviton Manufacturing Company, Lutron Electronics, Acuity Brands, Legrand, Schneider Electric, Cooper Industries, Eaton Corporation Plc, General Electric Company, Philips Ltd, and Johnson Controls GmbH.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/occupancy-sensors-market
This analytics report segments the occupancy sensor market on the following basis:
Surface Inspection Market size worth US$5.911 billion by 2027
Press ReleasesKnowledge Sourcing Intelligence announces the publication of a new analysis report on the market for the “Surface Inspection Market – which is forecasted from 2020 to 2027”.
The prime factors propelling the growth of the Surface Inspection Market are the rising automotive industry and the stronger government regulations put in place in the healthcare and automotive sectors.
As per the report, the market for Surface Inspection Market is expected to grow at a steady pace
Surface inspection is a non-destructive method of examining geographic features and marking purported flaws in the manufactured item. Manufacturers typically use specialised lighting systems, cameras, and a variety of equipment for accurate automatic fault detection. The automotive industry is relying more and more on highly efficient surface inspection devices to detect defects at different production stages. Surface inspection systems can detect a variety of production and material-related flaws. The automobile sector is expanding strongly in emerging markets. This market expansion is anticipated to continue and drive the market. Government-imposed safety standards and shifting consumer expectations for vehicles are both contributing to the automobile industry’s substantial expansion. These factors are likely to boost the Surface Inspection market growth.
The Surface Inspection market has been categorised on the basis of component, surface type, industry, and geography.
By component, the market has been classified based on Camera, Processor, Optics, Software and Others. Smart cameras employ image sensors to find defects in objects and surfaces. As a result, the market for surface inspection is expanding due to the rising deployment of smart cameras.
By type, the market has been classified based on 2D and 3D. Compared to 2D surface vision systems, 3D surface inspection systems are being adopted more frequently. 3D technology is employed as it offers more relevancy due to integrated optics, volumetric measurement for the position and parameters connected to forms, and convenience in building multi-sensors for large item inspection.
By industry, the market has been classified into Automotive, Healthcare, Consumer Electronics, Travel and Transport/Logistics and Others. Globally expanding automotive sales, more government regulations, and an increase in production complexity call for an effective monitoring system that reduces production errors and helps produce better-quality goods. These factors are likely to boost the industry’s growth.
Due to the expanding automotive and electronics industries, the North American area has been reported to have the highest market share. The region’s governments are enforcing a number of strict norms and regulations relating to product quality, which is driving up demand for surface inspection equipment. Hence, this region is anticipated to maintain its market dominance during the anticipated period.
Most nations implemented rigorous lockdown procedures in response to the COVID-19 pandemic to reduce the number of cases of infection that were rising. As a result, several important industries came to a halt, causing a slowdown in the world economy. There was a significant loss of revenue in the surface inspection market as a result of the slowdown in the automotive and electronics industries. However, the market has begun to revive and demand is anticipated to rise as governments begin to relax their COVID-19 restrictions.
As a part of the report, the major players operating in the Surface Inspection market that have been covered are Baumer Inspection, AMETEK, Isra Vision, Omron Corporation, Cognex Corporation, Adept Technology, Edmund Optics, Teledyne Technologies, Matrox Imaging.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/surface-inspection-market
This analytics report segments the Surface Inspection market on the following basis:
Improve the Power Efficiency in Portable Devices with Portable Battery Packs
BlogThe portable battery pack market is projected to grow at a CAGR of 12.35% during the forecast period to reach US$17.684 billion by 2027, from US$7.825 billion in 2020.
The changing structure and revolutionized use of technology have opened the gates for new opportunities and for new and better technological advancements. The evident need for electronic devices to stay connected with the outside world gave birth to the need to keep those devices functional and charged for a larger portion of time. Henceforth, to aid the need for fully charged and functional electronic devices, portable batteries are used to supply power through an inbuilt battery that can be recharged as per the requirement. A portable battery pack is a rechargeable electrical device that can hold power, charge, and discharge when required. This device is mostly used in the end-user industry to charge devices like mobile phones, cameras, laptops, and tablets among others. Additionally, these battery packs have witnessed a substantial surge in their scope of application across various industry verticals, which has helped in revolutionizing the portable battery pack market.
The prime factor propelling the market of the portable battery pack is the increasing adoption of mobile devices, rising urbanization, and urban population.
The increased use of smartphones and smart devices is the prime factor for the growth of the portable battery pack market. A large variety of operations can be easily done with the help of smartphones and/or smart devices. Functions like online shopping, online fund transfer, banking, social networking, online education, and working among others are made possible with the help of smartphones and smart devices. Additionally, the recent breakthroughs to improve connectivity for the smartphone industry are further increasing the demand for smartphones. For instance, the adoption of 5G technology that aids faster data speed is expected to create a higher demand for these smart devices. Henceforth, with the rising adoption of smartphones and smart devices, it is expected that the demand for portable battery packs and rechargeable batteries will increase simultaneously.
Furthermore, the growing urban population and urbanization are playing a vital role in the growth of the portable battery pack market. Owing to the rising disposable income across multiple geographies and in urban areas has further propelled the growth of the smartphone segment in the past few years. According to the World Bank, the urban population as a percentage of the total population has increased from 52% in 2011 to 57% in 2021. The total urban population accounts for 4.43 billion in 2021. Also, the World Bank estimates that the trend of urbanization will continue, and the total urban population will double than its current size by 2050. At that point, nearly 7 out of 10 people are expected to live in cities. Furthermore, urbanization is being fueled by the growth of the urban population, shifting lifestyle norms, and increasing use of smart devices, which in turn is boosting demand for portable electronic devices that use rechargeable batteries and portable chargers. Henceforth, it is expected that the growing urbanization will propel the demand for portable battery packs during the forecast period.
The lithium-ion battery holds a dominating share in the portable battery pack market
By technology, the portable battery pack market is segmented into Nickel metal hydride, Ni-Cd (Nickel Cadmium) batteries, Li-Polymer (Lithium Polymer) batteries, and Li-ion (Lithium-ion) batteries. The lithium-ion battery segment holds a prominent share in the portable battery pack market, owing to the extensive use of these batteries in most portable consumer electronics devices such as cell phones, laptops, etc. These batteries have high energy per unit mass relative to other electrical energy storage systems. Additionally, they also have high energy efficiency, a high-power-to-weight ratio, good high-temperature performance, and low self-discharge. Furthermore, the lack of alternatives to these lithium-ion batteries has further helped this segment to have a considerable share in the portable battery pack market during the forecast period. These characteristics of lithium-ion batteries are expected to propel the market for portable batteries under this segment.
According to analysts, the Asia-Pacific region is expected to have the largest share of the portable battery pack market in the upcoming years.
Based on Geography, the portable battery pack market is divided into North America, South America, Europe, and the Asia Pacific. Analysts anticipate that the Asia-Pacific region will have the largest market share owing to the increasing innovations in technology in countries like China, and India. Furthermore, the presence of these countries and the huge population residing in this region acts as a key factor driving the portable battery pack market. According to the National Blueprint for Lithium Batteries 2021-2030 report, China is expected to have about 1,811 GWh of lithium cell production capacity in 2025, which is efficient to support the cost-competitive EV production up to the equivalent of one-quarter of 2020 global passenger EV sale.
Furthermore, China dominates the supply chain for the manufacture of lithium-ion batteries, which also includes the processing of minerals and raw materials. Moreover, these bright statistics are indicating China’s leadership in the battery sector and that the demand for portable battery packs in the country is likely to rise over the next ten years, the country’s portable battery pack market is anticipated to have a promising future. The market for portable battery packs for computers, phones, and tablets becomes increasingly significant. Additionally, the Indian government is also taking steps to prepare a road map for other options for high-quality batteries for electric vehicles. For instance, the Ministry of Mines posted a report in August 2021, which says that the Government has approved the Production Linked Incentive Scheme (PLI) for the manufacturing of Advance Chemistry Cell (ACC) in the country. The scheme makes provision for building a competitive ACC battery manufacturing facility in the nation (50 Giga Watt hour-GWh). These strategic developments in this region with government support are playing a vital role in the growth of the portable battery pack market in this region.
Additionally, the North American region is also a particularly lucrative market for manufacturers of portable battery packs, and demand there is driven by the region’s high consumer purchasing power and growing interest in high-tech goods. Furthermore, the United States is also taking steps to develop its lithium battery manufacturing value chain. For instance, the National Blueprint for Lithium Batteries by the Federal Consortium for Advanced Batteries is expected to guide the investments to develop the domestic lithium-battery manufacturing value chain in the US. These developments are expected to support the growth of the portable battery market in this region.
Portable Battery Pack Market Scope:
SCADA Systems for Efficient Work Management
Thought ArticlesThe SCADA market is evaluated at US$22.946 billion for the year 2020 growing at a CAGR of 6.01% reaching a market size of US$34.519 billion by the year 2027.
Supervisory Control and Data Acquisition (SCADA) consists of different computers, user interfaces, and networked data communication to monitor critical infrastructure systems and the operation process. The most important aspect of SCADA is its ability to evolve with the ever-changing technology. SCADA systems are crucial for industrial organizations, as it allows them to control industrial processes locally or at remote locations, monitor, gather, and process real-time data, and record events into a log file, etc. These control systems consist of hardware and software elements. Furthermore, SCADA systems work well with many different types of enterprises owing to their wide range from simple configurations to large ones. Additionally, an effective SCADA system can result in significant savings of time and money. Moreover, numerous business owners in the oil and gas, energy, food and beverage, transportation, recycling, and other industries are drawn to SCADA because of its many alluring benefits, such as interoperability, scalability, communications, and support. These benefits allow these business owners to adopt these control systems as the foundation of their operations.
In the predicted timeframe, it is anticipated that the development of IoT and Industry 4.0 will accelerate the growth of the SCADA market
The need for real-time data to perform process analysis and predictive maintenance in industrial environments coupled with the growing demand for industrial robots are the key factors increasing the adoption of Industry 4.0 globally. Industry 4.0 revolutionizes the monitoring, automation, and analysis of supply chains through smart technology. It is powered by the industrial Internet of Things (IIoT) and cyber-physical systems, IoT, and cloud computing. Industry 4.0 aids the issue of human errors associated with the production process and allows most industrial processes and systems to go automated, which allows the production units to operate around the clock. Moreover, Industry 4.0 also incorporates automation infrastructure like SCADA or IoT, which aids the remote manufacturing process, and resourceful collection of real-time information to ensure optimum operations. Traditionally, SCADA involves the manual creation of analytical reports, but when IoT technologies are connected, this process may be effectively automated in less time and obtain high-quality insights. The market environment for SCADA has improved as a result of the introduction of IoT and the updating of current SCADA with various enticing aspects including scalability and data analytics. The necessity for efficient supply chains, quality products, and ongoing process optimization are driving the market’s expansion due to the increasingly strict regulatory requirements. Henceforth, these developments in the IoT and industry 4.0 segments are expected to propel the market for Supervisory Control and Data Acquisition (SCADA) during the anticipated period.
Additionally, the growing trend of digitalization is expected to augment the SCADA market in the coming years. The trend of digitalizing the operation is gaining momentum worldwide, countries are supporting, investing, and planning for digitally organized operations. For instance, the Government of India launched the Digital India flagship program with a vision to transform India into a digitally empowered society. Under the Digital India Program, the government approved the North East BPO Promotion Scheme to incentivize the BPO/ITES operations in North East Region. These government initiatives to bring digital transformations are expected to drive the SCADA market.
According to the analysts, the growth of the SCADA market is projected to be fueled by the numerous strategic deployments made by both public and private companies in the SCADA market on a global scale
Many businesses are stepping up their statistical approaches to improve their operations and market presence to fulfill the increased demand for data analytics and operational process management. For instance, in March 2022, CODRA a French developer of the Panorama Suite Platform, which is specialized in front-end communication, SCADA, and data historian launched its Panorama Suite 2022. This new version consolidated the company’s approach of putting the customer’s priorities at the front, whilst offering practical responses to the challenges of the digital transformation and green transition. Furthermore, this new version consolidated a two-level functional architecture with local SCADAs deployed across several sites, along with a centralized Hyper vision to provide you with centralized and secure asset management. Eventually, the deployment of these applications can reduce the end-users time and money. Consequently, these user benefits are expected to propel the SCADA market in the forthcoming years.
Based on components the market for Supervisory Control and Data Acquisition (SCADA) is expected to hold a significant share during the forecast period
Based on components, the SCADA market is segmented into Remote Terminal Units (RTUs), Programmable Logic Controllers (PLC), and SCADA Communication Systems. During the anticipated period, it is expected that the Programmable Logic Controllers segment will hold a notable share of the SCADA market. The PLC uses special programmable memory to store instructions and to implement functions like timing, sequencing, logic, and arithmetic among others to control machines or processes. Furthermore, can withstand changes in temperature, humidity, electrical noise, and vibration owing to its robust structure. Also, they can be programmed with a simple user-friendly coding language which makes it an easy and economical tool for businesses to maximize productivity. A PLC is commonly used in civil applications such as washing machines and for controlling traffic lights. Moreover, these PLCs are used in several industries to monitor and control production processes and building systems. Thus, the extensive use and benefits of the PLC systems are expected to drive the market for Supervisory Control and Data Acquisition (SCADA).
The Asia Pacific region is expected to hold a dominant share of the SCADA market during the anticipated timeframe
Based on Geography, the SCADA market is divided into North America, South America, Europe, and the Asia Pacific. Over the years, the Asia-Pacific region has become a production hub for the automation technology industry owing to the presence of manufacturing giant countries like China, India, and Japan among others. Furthermore, the major market players are companies like Mitsubishi Electric Corporation, Yokogawa Electric Co., and Hitachi Ltd., which operate their business in this region. This is another factor for the growth of the SCADA market in the Asia- Pacific region. Moreover, the increasing automation due to the rising need for high-quality products, along with rising production rates are driving the market growth. The rising industrial automation in this region is fueled further by rising investments and business expansions. Additionally, the water and wastewater sector, renewable energy sector, smart grids sector, and transportation sector are expected to drive the growth of the SCADA market in the Asia-Pacific region during the study period.