Albany, NY -- (SBWIRE) -- 11/15/2017 -- Transparency Market Research (TMR) observes the global SCADA Market For Water And Wastewater Management to be fairly consolidated with a few well-entrenched players that hold the leading market share. Expansion of product portfolio and expanding outreach to serve a large customer base is what key players in this market are vying for competitive gains.
ABB Ltd., Yokogawa Electric Corporation, Schneider Electric, Rockwell Automation Inc., Emerson Electric Co., Eaton Corporation, Tesco Controls Inc., Honeywell International Inc., SCADAware, and Parasyn are to name the key companies that operate in the global SCADA market for water and wastewater management.
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"Investments for the development of water and wastewater infrastructure is in general on the rise, observes a TMR analyst. Driven by this and a few other factors, the global SCADA market for water and wastewater management is predicted to reach US$2,172.1 mn by the end of 2025 from US$1,267.4 mn in 2015 at a moderate CAGR of 5.6% therein. Among the key component segments, services held more than 55% market share in the SCADA market for water and wastewater management in 2016. The industrial segment is likely to dominate among the key end-users expanding at a CAGR of 6% between 2015 and 2025. Geography-wise, in 2016, North America led with more than 33% of the global SCADA market for water and wastewater management in 2016.
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SCADA System Enables Efficient Wastewater Management, which is Fueling its Demand
Among the key growth drivers of the global SCADA market for water and wastewater management, the increasing investment in water and wastewater infrastructure is a prominent one. Apart from this, increasing complexities in maintenance and management of water and wastewater facilities are also exhibiting the demand for SCADA for wastewater management. At present, SCADA systems are extensively used in water and wastewater management sectors due to its capability to obtain data from remote devices such as valves and pumps and offer remote control from a host software platform.
The increasing efficiency in wastewater management using SCADA system is also anticipated to fuel the growth of SCADA market for water and wastewater management. This, along with initiatives undertaken by several governments and a comprehensive regulatory framework for monitoring and controlling water and wastewater services is promoting the use of SCADA. For example, workers at the Mid Halton Waste Water Treatment Plant in Canada have employed SCADA system to significantly increase flexibility, improve efficiency, and reduce expenses at the facility.
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In developing economies, the adoption of SCADA system is on the rise in order to provide more effective and efficient maintenance and management of water and wastewater.
Further, the growing practices of adoption of new and advanced technologies in the industrial sector are also acting in favor of the SCADA market for water and wastewater management. This is because SCADA system allows access to the plant from anywhere in the world in real-time. This allows the management and decision makers to make data driven decisions for improving plant processes. For instance, the chemical industry is adopting SCADA system so as to efficiently control certain processes or components of the chemical plant.
High Cost of Equipment Limits Growth
On the flip side, however, design complexities and lack of awareness is a key factor posing a hindrance to the market's growth. Further, the high installation cost of equipment used for water treatment is also restraining the market's growth. Nevertheless, rapid adoption of advanced electronics and communication technologies in emerging economies is likely to open growth avenues for the global SCADA market for water and wastewater treatment.
The review presented is based on the findings of a TMR report, titled "SCADA Market for Water & Wastewater Management (Component - Hardware (Programmable Logic Controller (PLC), Remote Terminal Units (RTU), Network infrastructure, and IT ), Software (On-premise and Cloud-based) and Services; End User - Residential (Government and Private) and Industrial (Chemical, Food & Beverages, and Pharmaceutical)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2025."
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