The power SCADA market comprises supervisory control and data acquisition systems used in electric utility industries to monitor, gather, and process real-time data, remotely control field devices, optimize operations, enhance situational awareness, and ensure distribution as well as transmission of electricity.
Power SCADA systems help utility operators efficiently manage their electrical grids and power generation, transmission, and distribution assets while reducing operational costs. They offer advantages like centralized monitoring & control of geographically dispersed assets, data logging & historization, alarm handling for critical situations, and graphical representations of the power network.
The Global Power SCADA market is estimated to be valued at USD 2.71 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the power SCADA market are ABB Ltd, Schneider Electric SE, General Electric Co., Siemens AG, Honeywell International Inc.
The growing demand for reliable and stable power supply along with the rising need to modernize aging power infrastructure especially in developing nations is fueling the adoption of Power SCADA Market Size systems. Furthermore, SCADA solutions help utilities minimize transmission losses, automate distribution networks, detect faults quickly, and ensure power quality & reliability.
The market is also witnessing increased global expansion as power SCADA vendors focus on emerging markets through partnerships with local players. Additionally, the deployment of smart grid technologies presents new opportunities for real-time grid monitoring & control with SCADA.
Market key trends
A major trend gaining prominence in the power SCADA market is the integration of Internet of Things (IoT) capabilities. IoT-enabled SCADA systems connect thousands of new intelligent digital field devices like smart meters, sensors and actuators to help gain deeper network visibility. They facilitate data analytics and allow remote monitoring of critical grid assets. IoT also supports automated control functions, condition-based maintenance, and predictive failure alerts. This data-driven approach improves grid efficiency, optimizes O&M, enhances customer service, and enables innovative functions like self-healing networks.
Porter’s Analysis
Threat of new entrants: Power SCADA market requires huge capital investment and established distribution channels which prevents new players to enter the market easily. Bargaining power of buyers: Large utility companies have more bargaining power compared to small and medium scale buyers in power SCADA market. Bargaining power of suppliers: The power SCADA market has large number of component manufacturers which reduces the bargaining power of suppliers. Threat of new substitutes: There is no direct substitute of Power SCADA system available in the market currently. Competitive rivalry: Key players cater various customized solutions to gain competitive advantage in power SCADA market.
North America region holds the largest share in power SCADA market in terms of value owing to presence of technological advanced countries like U.S. and Canada. The region accounted for over 35% revenue share in 2020. Asia Pacific region is expected to witness highest CAGR during the forecast period. Presence of emerging economies like China and India experiencing rapid industrialization and infrastructure development projects are fueling the power SCADA system demand.
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