Power SCADA

Power SCADA

The global power SCADA market is driven by factors such as aging network infrastructure and grid modernization. Across the world, most power distribution and transmission networks are old thus presenting reliability and safety concerns. In this respect, state and local governments and utilities are exploring grid modernization as a solution to increase reliability and improvement. The Power SCADA systems also have a significant role in monitoring, controlling, and automating the process in line with real-time. They manage energy flow, interconnect renewable resources, and assist in preventive process management.

The Power SCADA Market is expected to grow at a significant rate of around 5.2% during the forecast period (2024-2032). Moreover, as the world population and the standard of living rise dramatically, the pressure on existing power generation and distribution networks also rises. Purchasers globally, both in the developed and developing areas of the world, are seen to be increasing their capital expenditure to meet increasing power generation and distribution demands. Energy consultancy indicates that global energy demand could reach as high as 30% within the next twenty years. Such demand level can only be met by constructing new power plants and upgrading the transmission networks that transmit power to both industrial and remote consumers. These systems are critical in helping utilities manage the assets with efficiency that ensures enhancement of electricity delivery to the growing demand. Regarding SCADA, the grid operators have an overview of the generation, transmission, and distribution system to identify any weaknesses or limitations in real time.

• Based on the architecture, the market has been segmented into hardware, software, and service. The hardware segment is expected to grow with the highest CAGR during the forecast period. Being the primary constituents that enable the control and monitoring activity, hardware is the heart of every SCADA system. That is, it is discrete devices like remote terminal units, programmable logic controllers, communications equipment and interfaces, and human-machine interfaces that gather field data, respond to control signals, and provide process data to the operators. The predictable and accurate function of these devices is critical for managing the generation, transmission, and distribution of electric power. Possible hardware problems or any interruption caused by it may lead to a great threat to the stability and safety of the electricity supply. Far from optimal, outages decrease capacity and raise costs and, concerning technical faults, end up decreasing worker safety and even causing blackouts. Consequently, the companies that produce the hardware make their premier emphasis on the products’ durability, warranty, security from cyber threats, and built-in back-ups.
• Based on components, the market has been segmented into Communication System, Master Terminal Units, Human Machine Interfaces, Remote Terminal Units, Programmable Logic Controller, and Others. The remote terminal unit segment dominated the overall market in 2023. RTUs are essential for remote monitoring and controlling of circuit breakers, substations transformers, and switchgear in power utilities. They are used in most industries such as electricity generation, distribution, and transmission, oil and gas, water, and even transportation. RTUs enable near-real-time monitoring of remote parameters and return this data to operators for action and grid efficiency. Due to reliable transmission protocols and high scalability, RTUs are easily integrated with SCADA systems and provide effective monitoring and control of power infrastructure, so they will remain critical factors in the market.
• Based on end-users, the market has been segmented into Oil & Gas, Water & Wastewater Treatment, Metal & Mining, Chemicals, Transportation, and Others. The Oil & Gas segment dominated the overall market in 2023 due to them being infrastructure and having to meet safety standards. SCADA systems allow for centralizing control and monitoring of operations throughout the production chain: drilling platforms, oil pipelines, and refineries increasing the level of compliance with existing legislation in oil production activity and improving the methods of ensuring safety. Many facilities often are based in remote or offshore regions and SCADA allows the monitoring and control of events remotely. Further, it adds value by helping asset optimization through maintenance forecasting and enhancing the production line through data integration. Hence, safety and compliance, efficiency, and asset management depending on SCADA as an industry help determine its power SCADA market’s revenue share.
• For a better understanding of the market adoption of the power SCADA market, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific is expected to grow with a significant CAGR during the forecast period. The Asia-Pacific region is anticipated to show a high growth rate during the forecast period due to factors such as increased urbanization, industrialization, and supporting policies for grid upgrades. Many countries such as the people’s Republic of China, India, and Japan are spending a lot of funds to improve power infrastructure to improve reliability. Moreover, the integration of renewable energy is rapidly growing in the region, and grid management systems will become more sophisticated. The extension of transmission and distribution networks is another factor encouraging the use of SCADA systems.
• Some of the major players operating in the market include ABB, Siemens, Emerson Electric Co, Schneider Electric, Rockwell Automation, Mitsubishi Electric Corporation, Honeywell International Inc., Yokogawa Electric Corporation, Aspen Technology Inc, and Indra Sistemas.