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

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

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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.
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• 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.

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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

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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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