The power SCADA market is expected to witness robust growth owing to the increasing need for a reliable power infrastructure across the globe. Power SCADA systems are used for monitoring and controlling geographically dispersed power transmission and distribution networks. They offer improved visibility, monitoring, and control of power assets which helps to reduce disruptions, costs, and improve overall asset utilization in the power sector. Power failures and blackouts can have significant operational and economic impacts, making it critical for utilities to implement power SCADA systems for real-time monitoring of critical assets.
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 players operating in the power SCADA market are ABB, Siemens, Schneider Electric, GE, Honeywell, Larsen & Toubro, Rockwell, Indus Towers, Intergraph Corporation, BPL Global.
Key Takeaways Key players: ABB and Siemens dominate the global power SCADA market with over 25% market share each owing to their strong product portfolio and global distribution network. Other major players include Schneider Electric, GE, Honeywell, Larsen & Toubro and Rockwell which collectively account for over 30% of the global market. Key opportunities: Growing investments in smart grid projects across major economies present significant opportunities for power SCADA players. Also, the need to modernize aging infrastructure in developed markets will drive replacements and retrofit opportunities. Global expansion: Leading players are focusing on emerging economies in Asia Pacific and Latin America to expand their geographic footprint. Strategic partnerships with local players are helping global suppliers established presence and leverage local expertise.
Market Drivers Increasing investments in transmission and distribution infrastructure by utilities is a major Power SCADA Market Size driver. Government initiatives to upgrade existing systems and add new lines is driving deployments of power SCADA systems. Growing focus on renewable integration is propelling the demand. Power SCADA assists in integrating more renewable energy by enabling better visibility and control over distributed generation assets.
Market Restrains High initial investment costs pose challenges, especially for cash-strapped utilities in developing nations. Also, lack of skilled workforce for installing, operating and maintaining SCADA systems restrains the market growth. Segment Analysis Hardware segment currently dominates the power SCADA market owing to increasing deployments of remote terminal units (RTUs), programmable logic controllers (PLCs) and intelligent electronic devices (IEDs) across various industries for monitoring and controlling equipment and machinery remotely. The software segment is expected to witness higher growth during the forecast period due to rising adoption of advanced software for managing higher volumes of real-time data from widespread assets. Growing need for continuous surveillance and monitoring of distributed power generation, transmission and distribution networks will also support segmental expansion.
Global Analysis North America holds the largest share in the global power SCADA market primarily due to significant investments by governments towards upgrading aging power infrastructure and expansion of smart grid projects. Rapid industrialization and urbanization are driving the Asia Pacific market. China, India and other Southeast Asian countries offer lucrative opportunities for market players owing to increasing investments in T&D systems upgradation and construction of new power plants. Government incentives and initiatives promoting clean energy generation from renewable sources are fueling the adoption of SCADA systems across Europe. Rising focus on energy efficiency along with integration of renewables in the existing grid networks will boost the Latin America market.
Get this Report in Japanese Language- 電力SCADA市場
Get this Report in Korean Language- 전력 SCADA 시장
About Author-
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
