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SCADA Market is Expected to Record CAGR of 8% over 2020 to 2026

Cloud SCADA systems charge users only for the resources that are utilized by them. Such flexibility in terms of payment reduces the requirement of bearing high capital investments. These solutions stand out beneficial as they also eliminate installation and maintenance fees.

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SCADA Market is Expected to Record CAGR of 8% over 2020 to 2026

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  1. SCADA Market is forecast to cross the USD 50 billion mark by 2026

  2. KeyInsights SCADA Market : • Rapid proliferation of industry 4.0 technologies is likely to drive Supervisory Control and Data Acquisition market. The market is expected to witness a robust growth rate on account of increasing adoption of automation technologies by manufacturing, utility, and oil & gas industries. SCADA enables operators to monitor entire processes of machines and factories to access real-time data. The introduction of cloud-based SCADA systems may also provide promising opportunities for industry growth. • Cloud SCADA systems charge users only for the resources that are utilized by them. Such flexibility in terms of payment reduces the requirement of bearing high capital investments. These solutions stand out beneficial as they also eliminate installation and maintenance fees. • Ongoing technological advancements in Supervisory Control and Data Acquisition systems due to the emergence of Artificial Intelligence and IoT technologies may result in industry expansion over the coming years. In terms of revenue, SCADA market is forecast to cross the USD 50 billion mark by 2026. • Component-wise, the HMI (human-machine interface) segment is forecast to grow exponentially over the coming years. Human-machine interface is an I/O device that enables operators to monitor, control, and process data. Also, they provide vital information, such as data diagnostics, detailed schematics, logistic information, scheduled maintenance, etc.

  3. Continued… • With the help of HMI, operating personnel can also visualize the graphical representation of data. Moreover, the development of wearable HMIs, artificial vision, and natural language processing for HMIs has led to the enhancement of overall system performance of HMIs. Increasing focus of industry players to further develop touchscreen interfaces to improve the operability of these systems may fuel product demand in the future. • Speaking of the application landscape, SCADA systems are witnessing burgeoning demand from chemical & pharmaceutical industries for monitoring and controlling the mixing of critical drug compositions in order to ensure high quality of end-product. • Positive application outlook in chemical industry, particularly in Europe and Asia Pacific region may provide impetus to SCADA industry expansion. The technology is witnessing widespread adoption in the pharma industry owing to stringent safety & environmental regulations. Moreover, automation trend in the pharmaceutical industry will change SCADA business landscape over the analysis period.

  4. Request for a Sample Copy of This Research Report @ https://bit.ly/2P0iQHE Request for customization this report @ https://bit.ly/2SMZuH4

  5. Major Companies In SCADA Market : • ABB Ltd. • AVEVA Group plc • Emerson Electric Co. • Hitachi • Honeywell International Inc. • ICONICS • Mitsubishi Electric • Omron Corporation • Ovak Technologies • Partita IVA • Rockwell Automation • Schneider Electric SE • Siemens AG • Toshiba Infrastructure Systems & Solutions Corporation • Yokogawa Electric Corporation

  6. Regional SCADA Market : • North America SCADA market is likely to be driven by increasing investments in industry 4.0 technologies. Governments across the region, especially in Canada and the U.S. are making robust investments towards the development of smart infrastructure & transportation systems, creating heavy demand for SCADA technology. For the record, the U.S. Department of Transportation made an investment of more than USD 63 billion to build transportation infrastructure in 2018. Increasing spending on automation from various industries may supplement SCADA industry share in the forthcoming years.

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