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Albany, New York, March 06, 2019 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) observes that the global SCADA market for water and wastewater treatment has a highly competitive vendor landscape. The key players such as Yokogawa Electric Corporation, Emerson Electric Co., Rockwell Automation Inc., Honeywell International Inc., and Eaton Corporation. Additionally, the market is moderately consolidated as few players are holding a major share in the market. The players are focusing on the expansion of the product portfolio through mergers and acquisitions.
According to the report by Transparency Market Research, the SCADA market for water and wastewater management stood at US$1,267.4 mn in 2015. This growth is projected to reach a value of US$2,172.1 mn by the end of 2025. The market is likely to expand with a healthy CAGR of 5.60% over the forecast period from 2015 and 2025.
Based on the component, the services segment dominated the global SCADA market by accounting 55% in the overall market in 2016. Based on the application, the industrial segment is expected to expand with a healthy growth rate of a CAGR of 6% over the forecast period from 2015 to 2025. Based on the region, North America dominated the global SCADA market in 2016 by accounting 33% of the shares in the overall market. This growth is attributable to the growing adoption of the cloud-based SCADA systems for water and wastewater treatment in the region.
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High Efficiency of SCADA Systems to Propel Market Growth
SCADA is a combination of software and hardware, which allows industries to monitor and collect real-time data by controlling industrial processes locally or remotely. In addition, it allows users interaction with devices such as sensors, pumps, motors, and valves. It can be accessed from the human‐machine interface (HMI) software. These features are benefitting the adoption of the SCADA systems in water purification processes. Additionally, from the past few years, the demand for industrial SCADA systems is on a continuous growth due to their efficiency, and smart decision making and fast data analysis abilities. These factors are majorly boosting the global SCADA market and likely to remain a key driver for the growth of the SCADA market.
The growing demand for water and wastewater treatment is one of the major factors, which is encouraging the adoption of numerous techniques for waste and wastewater management. This factor is boosting demand for the SCADA systems and likely to propel growth of the market in the next few years. Increasing government investments coupled with technological advancements in the field is projected to bolster growth of the SCADA market for water and wastewater treatment in the coming years.
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Growing Adoption of the Advanced SCADA Systems to Propel Market Growth
Factors such as growing awareness about water treatment globally and mainly in the underdeveloped and developing countries are boosting water and wastewater treatment projects. This is propelling growth of the global SCADA market. Furthermore, growing adoption of cloud-based SCADA system coupled with infrastructural development such as smart cities & transportation and growing penetration of mobile SCADA systems are driving growth of the global SCADA market too.
Despite these factors, cyber threats along with high investment requirement are restraining growth of the SCADA market. Nevertheless, a growing focus on the product improvement by key players is expected to offer lucrative opportunities for growth of the SCADA market over the forecast period.
This information is encompassed in the report by TMR, 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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For the study, the SCADA market has been segmented as follows:
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