Category: Electronics & Semiconductor |
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Publisher: Trends Market Research |
Status: On-going |
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Electrical SCADA is defined as an industrial computer system that monitors and controls a particular process. Electrical SCADA monitors electrical assets, substations, and transformers in transmission and distribution elements of electrical utilities. This is a PC-based software package in the application of power distribution. A typical configuration is a central control system consisting of a control network interface, input/output, and communication equipment. The electrical SCADA market is anticipated to witness high growth in the forecasted period since the electrical SCADA system enables an organization to monitor and process real-time data and control industrial processes locally or remotely. The utilization of this system assists organizations in making better decisions and keep up their organization's efficiency. Moreover, the ongoing technological advancements in intensifying the electrical SCADA systems have increased the growth expectations in this market. However, the critical factor impeding the market's growth is huge investments in setting up the electrical SCADA system. The Electrical SCADA Market is likely to grow at the rate of 7.54% CAGR by 2026.
Electrical SCADA Market based on Architecture
Electrical SCADA Market based on Component
Electrical SCADA Market based on Application
Electrical SCADA Market based on Geography
The electrical SCADA market is majorly divided into hardware, software, and services based on the architecture. Among them, the hardware segment has a significant share in the market growth. The major share of this segment is ascribed to the increasing investments aiming to develop automated devices in power infrastructure that are supporting the segment growth.
The remote terminal unit (RTU)segment has the highest market share in the component market due to its flexibility and adaptability. RTUs provide better communication capabilities in remote applications, including freshwater reservoirs and onshore oil & gas environments. They also provide a direct interface among actuators, field sensors, and central control units, contributing to the market growth. The rising requirement of cost-beneficial monitoring solutions at remote locations will propel the market size.
Based on application, the electrical SCADA market is bifurcated into generation, transmission, and distribution. The electrical SCADA is majorly applicable in transmission due to the increasing investments in the transmission networks from countries. These networks are designed to ensure a high level of safety and reliability to supply to the low voltage distribution networks.
North America is projected to hold the maximum share in the electrical SCADA market as per the regional analysis. Factors including the rising deployment of SCADA by service providers & power operators and the robust existence of significant electrical SCADA software & system suppliers, particularly in the US and Canada, drive market growth in this region. The increase in the R&D in the wireless sensor network and increasing use of big data analytics provides lucrative opportunities for the market.
Globally, the market for electrical SCADA is expected to grow at a robust rate over the forecast period owing to the increasing new constructions due to the migration of rural public to urban areas. Trends including smart city project, usage of renewable sources, investment in electrical network or remodeling of the old electrical network for improvement or damage recovery is enhancing the growth of SCADA in the power distribution, which ultimately drives the global electrical SCADA market.
Honeywell International Inc., Toshiba Infrastructure Systems & Solutions Corporation, Emerson Electric Co., Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Omron Corporation, ABB Ltd., Yokogawa Electric Corporation, Mitsubishi Electric, and Partita IVA are the leading vendor profiles that are depicted in the electrical SCADA market research report.