SCADA market to benefit from renewable energy growth

The global SCADA market is projected to grow at a CAGR of 7% from 2013 to 2018, driven by escalating adoption of SCADA in process automation industries, according to a report compiled by Radiant Insights. Meanwhile, increasing focus on renewable energy in the major end-use industries of oil and gas, energy and power and water and wastewater is expected to open up huge opportunities for the SCADA market in coming years.

The report says that growing availability of wireless sensor networking will influence the SCADA industry; however, high initial investment as well as cost of maintenance may prove restrictive to demand, while cybersecurity issues could also have an adverse effect.

Geographically, the dominant SCADA markets are Asia, Europe and the Americas. Asia is forecast to contribute maximally to the global market growth over the next five years, due to rising acceptance of automation to increase efficiency and uptime and reduce costs.

The report includes a discussion of the key vendors operating in this market, including leading players Siemens, ABB and Schneider Electric, as well as established vendors such as Emerson Process Management, GE Intelligent Platforms, Rockwell Automation and Yokogawa Electric Corporation.