Global SCADA Market for Water and Wastewater Management: Snapshot
In a competitive global SCADA market for water and wastewater treatment, well-entrenched players are focused on expanding their product portfolio and global outreach to serve a large customer base.
Majorly fuelling the global SCADA market for water and wastewater management is the increasing investment in infrastructure for water and wastewater. Further, increasing complexities in maintenance and management of water and wastewater facilities are also boosting the demand for SCADA systems.
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The advantages of increased efficiency in wastewater management is also driving the adoption of SCADA system. This attribute is leveraged by several governments that have undertaken initiatives for technology-based processes for wastewater management and have formulated regulatory framework for monitoring and controlling water and wastewater services.
On the downside, design complexities and high installation cost are limiting the adoption of SCADA systems.
The global SCADA market for water and wastewater treatment is poised to expand at a CAGR of 5.6% between 2015 and 2025 for the market to become worth US$2,172.1 mn by 2025-end from US$1,267.4 mn in 2015.
Services Emerge as Lucrative Component Segment
The global SCADA market for water and wastewater management is segregated into hardware, software, and services as per component classification. According to the report, the market is likely to witness the dominance of services in the coming years. The services segment occupied more than 55% market share in the overall market in 2016. This is mainly because of rising demand for SCADA system for a host of applications, among which installation services, consulting services, and maintenance and support services are prominent ones. During the tenure of the forecast period, the services segment is prognosticated to display an impressive growth. This is because emerging economies in Asia Pacific are increasingly employing SCADA system for real time data monitoring across industries. The increasing acceptance of process automation across a host of industry verticals is also triggering the growth of services component of the market.
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Within the hardware segment, programmable logic controller (PLC) is expected to create handsome opportunities for SCADA market for water and wastewater management over the forecast period.
As per end user, the global SCADA market for water and wastewater management is classified into residential and industrial. The segment of residential is further sub-segmented into government and private. The segment of industrial is further sub-segmented into chemical, food and beverages, pharmaceutical, and others. According to the report, the industrial segment is expected to witness healthy growth at a CAGR of almost 6% during the forecast period between 2015 and 2025. This is mainly because of growing adoption of SCADA systems across several industries such as chemical, food and beverages among others.
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North America to Remain Lucrative Region through 2025
In terms of geography, the report takes stock of the potential of global SCADA market for water and wastewater management in the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2016, North America emerged as the most lucrative market serving a demand that attracted a revenue of 33% in the overall market. Going ahead, the rising popularity of cloud-based SCADA for water and wastewater management will account for the strong growth of this regional market.
Europe is predicted to be a significant market rising with an approximate CAGR of 5% between 2015 and 2025. Stringent regulations for the treatment of wastewater and demand for employing efficient processes for the same are responsible for the growth of this regional market.
Asia Pacific is expected to display strong growth in the SCADA market for water and wastewater management in the upcoming years.
Leading players in the global SCADA market for water and wastewater management include ABB Ltd., Schneider Electric, Emerson Electric Co., Tesco Controls Inc., SCADAware, Yokogawa Electric Corporation, Rockwell Automation Inc., Eaton Corporation, Honeywell International Inc., and Parasyn.
Advances in SCADA Market Lean on Improving Resiliency of Industrial Networks
SCADA forms a key part of control systems engineering. The strides in the Industry 4.0 have also accelerated the pace of new technology developments in the SCADA market. The use of data for making smarter business decisions is becoming ubiquitous. In the wake of Covid-19, stakeholders have been relentlessly trying to come with new risk identification models for the currently deployed SCADA systems. The changing energy mix in numerous nations has also caused disruption in the oil and gas sector in various parts of the world. In recent months, the microeconomic dynamics have gone overhauls in numerous countries. Hence, network researchers in IT are keen on meeting their share of challenges. Interest toward developing new platforms that specifically meet the changing conditions due to Covid-19-led economic slump has helped opportunities in the SCADA market prosper.
The advent of new IoT platforms in the last few months has revived new growth potential in the SCADA market. This has gained all the more significant in the Covid times, since there has been rise in malicious attacks on crucial industrial networks. Thus, stakeholders in the SCADA market are keen on making the ecosystem prone to ransomware attacks. Subsequently, players are keen to boost the use of automation technologies to keep the production wheels moving at a decent pace.
As more industries and commercial sectors use SACDA systems, the challenge will only mount. On the other side of the spectrum, software developers are relentlessly working to come out new capabilities in the human interface system. Another key development will be the adoption of data acquisition systems that will offer insights on the industrial processes on more granular level. In a data-driven world, SCADA systems are expected to open new avenues in the chemical sector in particular. Collection of new data that help meet the tailored responses of end consumer is likely to become the new game-changing trend.
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