In a Rapidly Changing Economic Scenario, Here’s What to Expect in the Global Supervisory Control and Data Acquisition (SCADA) Market in 2020 & Beyond
As COVID-19 continues to spread and cause large scale human and financial destruction in countries across the world, pessimism is beginning to run high among chief information officers(CIOs).
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Supervisory Control and Data Acquisition (SCADA) market. Report segmentation includes Architecture (Services, Software, Hardware); Component (Remote Terminal Units (RTU), Human-Machine Interface (HMI), Programmable Logic Controllers (PLC), Communication Systems, Other Components); Application (Oil & Gas, Transportation, Telecommunications, Water & Wastewater, Food & Beverages, Other Applications).
21 June 4:45 A.M., California/Marketwire/ - According to the new market research report, as COVID-19 continues to spread and cause large scale human and financial destruction in countries across the world, pessimism is beginning to run high among chief information officers(CIOs). The general decline in business confidence is an indication of the gradually worsening economic climate, since business confidence is a well-known leading indicator of future output. Business confidence, in other words, is a barometer of investment growth. As companies revisit their Investment spending plans, its little surprise that IT budgets are being slashed. IT budgets which in the pre-pandemic period was projected to grow by over 4% to 5% supported largely by enterprise software spending is now set for downward revisions.
Virtually every technology company is facing financial challenges of disrupted supply chains, and falling work-from-home (WFM) employee productivity. Inability to meet quarterly revenue targets mean reduced available funds for planned IT projects. The pandemic is throwing up a fairly mixed bag of challenges and opportunities for IT services and technologies. While planned IT projects and budgets are disrupted for companies across all industrial vectors, dependence on certain other technologies are growing. These include Artificial Intelligence (AI), automation, cloud computing, remote working, block chain, and other work from home (WFH) technologies like remote collaboration, remote desktops, VPN, network security, among others. Spending on technology for remote working is witnessing rapid increases as companies make a forced migration to these platforms to ensure business continuity.
Major focus of current budgets will therefore be spent on ensuring seamless yet secure operations remotely. In line with this trend, reductions in software investments will be the lowest at -1.5%, hardware the highest at -13.2%, while infrastructure may remain afloat at 1.5% largely because digital innovation is the way out of the crisis. Post COVID-19 challenges such as reduced worker density; non-contact production; cost reductions; innovation; agility to respond to supply disruptions will require re-doubled focus on enabling technologies. Currently however, larger companies with the financial strength to withstand the recession will maintain investments in automation, while smaller and medium companies will cut-back on spending to survive the current economic nightmare. Immediate cash flow and liquidity remains the biggest challenge for the global Supervisory Control and Data Acquisition (SCADA) market which is projected to reach a revised market size of US$15.5 billion by the year 2027 after a -8.2% decline in the year 2020. Given that SCADA is the backbone of automation, remote monitoring and control of industrial systems, the market will nevertheless post a quick recovery in the coming year.
SCADA is defined as an industrial automation control system used to remotely control and monitor complex process and operations in industrial plants, and infrastructure in manufacturing plants. SCADA is a software application program that helps in collecting data/information from remote locations in real-time to control conditions and equipment. SCADA also helps in controlling several industrial processes including production, manufacturing, power generation, fabrication, desalination, refining, and transportation in both process and discrete manufacturing sectors. The SCADA systems are also capable of interpreting the data gathered from different sources. These systems find applications in a range of industrial sectors including oil & gas, power, water & wastewater treatment, pharmaceuticals, transportation, manufacturing, chemicals, telecommunication, and food & beverages, among others.
Key Competitors Covered in the Report
Emerson Electric Company
General Electric Company
Honeywell Process Solutions
Rockwell Automation, Inc.
Schneider Electric SA
Willowglen Systems Inc.
Yokogawa Electric Corporation
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, and Rest of Europe)
Rest of World
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 26633. Among this pool, 2397 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 533 unique participations, a total of 241 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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