MarketResearchReports.biz announces the addition of a new market intelligence report covering the global SCADA market for process industries to its vast research report portfolio.
Albany, NY -- (SBWIRE) -- 02/13/2017 -- The report gives a wide-ranging overview of the market and presents an analysis of the numerous catalysts having a significant effect on the overall development of the global SCADA market. The report gives an overview of the major growth drivers, restraints, and major trends in the market, along with detailed qualitative as well as quantitative data pertaining to the past, present, and projected future market values.
The report, titled "Global SCADA Market in Process Industries 2016-2020," states that the market will expand at a CAGR of over 5% over the report's forecast period.
The report states that the rapid large-scale adoption of smart grid technology across the globe has boosted the growth of the global SCADA market in the past years. SCADA systems help in the proper measurement and monitoring of the amount of electricity consumed on different lines, flows, feed-in power, etc. with the help of data gathered from sensors and smart meters integrated within smart grids. Analysis of this information allows automatic execution of decisions regarding optimization of grid operations.
In the past few years, smart grids have also made inroads in Southeast Asian economies such as Singapore, the Philippines, and Thailand. The report states that private energy utility companies as well as government bodies in these countries will exhibit increased demand for SCADA solutions for integration with smart grids.
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One of the other major factors projected to have a positive effect on the market's overall development is the rising popularity of SCADA as a service. Analysts suggest that not only end users but SCADA providers can also achieve significant reduction in costs, greater flexibility, and enhanced functionality by switching to the cloud platform. Cloud-based SCADA solutions can reduce end-use costs by up to 80% as compared to conventional SCADA deployment platforms in the process industry over the report's forecast period, states the report.
The report segments the market on the basis of application, end use, and geography.
On the basis of application, the market has been segmented into services and solutions. Of these, the segment of solutions accounted for a share of over 50% in the global market in 2015. Technological advancements in the field of factory automation, especially in the sectors of control systems, human machine interface, and wireless sensor networks have fueled the adoption of SCADA solutions in process industries in the past few years.
On the basis of end use, the market has been segmented into power, oil and gas, pharmaceuticals, water and wastewater, and chemicals. Of these, the segment of oil and gas held a share of over 24% in the global market in 2015. Numerous oil and gas companies are integrating SCADA systems for proper management and control of plants that are usually spread over vast areas. The rising demand for SCADA solutions with manufacturing execution system (MES) and enterprise resource planning (ERP) frameworks is also expected to boost the global SCADA market over the report's forecast period.
Some of the leading vendors operating in the global SCADA market are Emerson Electric, ABB, Siemens, Honeywell, GE, Rockwell Automation, Schneider Electric, Yokogawa Electric, Omron, and Mitsubishi.
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