DUBLIN--(BUSINESS WIRE)--The "Electrical SCADA Market by Architecture (Hardware, Software, and Services), Component (Master Terminal unit, Remote Terminal unit, Human Machine Interface), Application (Generation, Transmission, and Distribution) & Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The electrical SCADA market is projected to reach USD 3.29 billion by 2022, growing at a CAGR of 7.48%, from 2017 to 2022.
The growth of the electrical SCADA market can be attributed by the adoption of remote monitoring and control solutions, digitalization of the power sector, need for automation in the power industry, investments in electrical SCADA-related products, rising pressure to reduce losses in transmission and distribution, and to increase the efficiency of generation plants. Concerns regarding data security and cybersecurity are the major challenges faced by the players in this market.
The distribution segment is expected to grow at the highest CAGR in the global electrical SCADA market during the forecast period. The growth in the global infrastructure development in the power sector is creating the need for the development of automation. All energy supplied to a distribution utility does not reach the end consumer. A substantial amount of energy is lost in the transmission and distribution system by way of technical and non-technical losses.
The hardware segment led the electrical SCADA market in 2016 and is expected to grow at a decent pace during the forecast period. The growth of the hardware segment is due to the upgradation of existing hardware in regions such as North America and Europe. The Mexican government also supports grid modernization by adopting the SCADA system. This is expected to drive the electrical SCADA market during the forecast period.
Asia Pacific is the fastest-growing market for electrical SCADA due to the recent T&D developments in India and China. The increase in automation and digitalization activities is likely to boost the demand for electrical SCADA during the forecast period. The increasing investments in electrical networks would further raise the demand for the electrical SCADA market in the near future.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electrical SCADA Market, By Architecture
7 Electrical SCADA Market, By Application
8 Electrical SCADA Market, By Component
9 Electrical SCADA Market, By Region
10 Competitive Landscape
11 Company Profiles
- Advanced Control Systems
- Bentek Systems
- Larsen and Toubro
- Mitsubishi Electric
- Open System International
- Rockwell Automation
- Schneider Electric
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/research/m99txr/the_electrical?w=4