SCADA Market worth $11.16 Billion by 2020

SCADA Market worth $11.16 Billion by 2020

According to a new market research report of “SCADA Market by Components (PLC, RTU, HMI, Communication Systems), Architecture (Hardware, Software, Services), Application (Oil & Gas, Power, Water & Wastewater, Transport, Manufacturing, Chemicals), and Geography – Analysis & Forecast to 2013 – 2020” published by MarketsandMarkets, the market is expected to grow at a CAGR of 7.24% from 2014 to 2020.

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The supervisory control and data acquisition (SCADA) market includes programmable logic controllers (PLC), remote terminal units (RTUs), human machine interface (HMI), and communication systems. SCADA market is expected to grow in the forecasted period as there is huge potential from renewable energy sector, high investments in infrastructure for sectors such as oil and gas, power (transmission and distribution), and water and wastewater management. These are some of the factors which are driving the growth of the SCADA market. Cyber security threat is considered as an important restraint which is being faced frequently by the SCADA market.

The overall SCADA market is segmented into four major segments- components, architecture, application, and geography. All the segments are separately classified in the report. The SCADA market is expected to reach up to $11.16 billion by 2020, at an estimated CAGR of 7.24 % from 2014 to 2020.

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Geographical split for the SCADA market is included in the report. It presents the market size of different geographies. SCADA market report divides the overall market based on the four major geographical segments- The Americas, Europe, APAC, and Rest of the world (ROW). Asia Pacific (APAC) is estimated to contribute the major share in the SCADA market, which is then followed by the Americas and Europe. Major players which are dominating the SCADA market include ABB (Switzerland), Rockwell Automation (U.S.), and Siemens (Germany).

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Source: http://prwire.com.au/pr/65451/scada-market-worth-11-16-billion-by-2020