If you are familiar with the existence of the global supervisory control and data acquisition (SCADA) market, you might be familiar with its consolidated and amalgamated nature, which involves a number of participants to assume their control across the market. These participants act as competitors to each other, which has amassed rivalry and contention among these participants. The most common names in the domain of SCADA constitute to be Honey Well International Inc., Siemens AG, Rockwell Automation Inc., Emerson Electric Co, ABB Ltd., and Schneider Electric SE, and the consolidated firms contribute and own more than 60% shares in the corresponding market. However, the SCADA market addresses the following concerns, and it strives to provide optimal solution for the problems.
It has been widely speculated that the global supervisory control and data acquisition market is estimated to earn a net worth and revenue worth $40.18 billion by the end of 2024. It is no wonder that the electric power sector is regarded as a prime consumer for the SCADA market, and the industry is controlling and managing the end user applications for the SCADA market for the promotion of the total grid automation projects.
In addition to that, it is also noticeable that the implementation of SCADA in the electric power industry is addressing the issues in the domain of power loss during a transmission and distribution process, and these issues are predominantly noticeable in countries like India and China, which requires the construction of an infrastructure to provide a solution for these issues.
The impact of SCADA is growing gradually in the corresponding industries; however, its growth has also helped the industrial sectors to recognize the faults in machinery by suggesting an appropriate solution for the minimization of the defects as a whole. While these issues are being addressed and resolved by the SCADA, it has also resulted in a high demand for data acquisition systems, and it also plays a vital role in the distribution of the power, by the means of deriving electricity from an excessive capacity, and it is being supplied to the areas, where electricity is found in scarcity. In addition, SCADA also plays a vital role in the control of the electric power system automatically, which has resulted in a reduction of manpower in the industry.
The SCADA is also capable of restoring power automatically after an electric shutdown, which attributes to its growing popularity significantly. One of the important factors of the data acquisition system basics is that it is promoting the global supervisory control and data acquisition market in the domain of gas sector to help the optimization of the extraction output.
Another important factor boosting the growth of the global supervisory control and data acquisition market is the rising deployment in oil and gas sector as it helps optimize the extraction output.
Growth of cyber-attacks in the market
It is no wonder that a SCADA market is susceptible to a number of risks and issues, which proves detrimental to the integrity of the market. It has also led to the increase in the number of the cyber-attacks, which has proven to vandalize the integration of a data acquisition system. The occurrence of such incidents has provoked the consumers of the market to lose their faith in the SCADA. However, the leaders of the markets should implement practically-proven data acquisition system applications in the market to avoid the occurrence of any cyber-attacks in the future.
