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SCADA Market to Reach $13.43 billion to 2022 - Increased Demand for Industrial Mobility for Remotely Managing the Process IndustryDUBLIN, August 14, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "SCADA Market - Global Forecast to 2022" report to their offering.  The SCADA market is expected to be worth USD 13.43 Billion by 2022, growing at a CAGR of 6.6% between 2017 and 2022. The growth of this market is propelled by the increased demand for industrial mobility for remotely managing the process industry, increasing adoption of cloud computing in SCADA system, increasing infrastructure development in terms of smart cities and transportation, and rising adoption of Industry 4.0 using SCADA system. Remote terminal unit (RTU) is expected to hold the largest share of the overall SCADA market in 2017. RTU is a field device that needs to be installed at the operation site, and the number of these sites in case of sectors such as oil and gas, power, and water and wastewater is very large. Thus, the market size of RTU is also large compared to the other components. Deep sea exploration and extraction along with shale gas further drives the demand for the implementation of RTU. The market for communication systems is expected to grow at the highest rate between 2017 and 2022. The entire flow of data between the supervisory controls, data acquisition uits, and controllers linked to the SCADA system relies on the communication system to exercise supervisory control and carry out data acquisitions. Services held the largest share of the SCADA market. The high demand for application-specific modifications leads to increased number of services such as SCADA system recommendations, regulatory compliance services, re-commissioning or restart assistance, and legacy system support and migration. The market for software is expected to grow at the highest rate during the forecast period. The SCADA system comprises a software program to produce analytical data, trending data, and execute information such as providing logistic information, scheduled maintenance procedure, and detailed representation for a particular machine. With the help of detailed representation of the machine in the plant, the operator controls the operation. The oil and gas application is expected to dominate the market during the forecast period. SCADA system is widely used across the upstream, midstream, and downstream sectors of the oil and gas industry. The use of SCADA systems in these processes delivers enhanced safety, reliability, and profitability for oil and gas operations. The market for the water and wastewater application is expected to grow at the highest rate. SCADA system is helpful for reducing costs in the long run along with ensuring reliable system operations through support services that predict, prevent, and react to operational issues and reduce the possibility of a downtime. Companies Mentioned
Key Topics Covered: For more information about this report visit http://www.researchandmarkets.com/research/rjwq9n/scada_market_by Media Contact: Research and Markets
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