Power SCADA Market is Driven by Increasing Automation in Industries and Infrastructure
The power SCADA market consists of supervisory control and data acquisition systems that are used to monitor, gather, and process real-time data from power-generating plants and distributing utilities. Power SCADA systems help utilities gather and analyze various parameters like frequency, voltage, and load conditions from generating stations and substations. These centralized systems aid in remote monitoring and control of field devices such as transformers, breakers, and pumps. Power SCADA also assists in managing power flows and dispatching power commands based on changing demand patterns. The rising demand for grid monitoring, failure detection, asset management, and outage response has boosted the adoption of power SCADA systems in the industry.
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 Schneider Electric SE, ABB, Siemens AG, General Electric Company, Honeywell International Inc. These companies collective hold over 50% of the overall market share.
The growing demand for electricity owing to rapid urbanization and industrialization is fueling the need for optimal power grid management. Power SCADA aids utilities in integrating renewable power sources more efficiently onto the mixed grid. This is propelling the Power SCADA Market Size globally.
Leading SCADA vendors are expanding their footprint in emerging nations to gain new customers. They are also engaging in partnerships with regional system integrators for global power project implementations. This helps them strengthen market position internationally.
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