Global Electrical SCADA Market to Reach $3.5 Billion by 2026 Amid COVID-19 Crisis

Strategic Insights -

As the world continues to navigate the challenges of the COVID-19 pandemic, the global electrical SCADA (Supervisory Control and Data Acquisition) market is expected to experience significant growth, driven by the increasing demand for efficient and reliable energy management systems. A new market study published by Global Industry Analysts Inc. provides fresh perspectives on opportunities and challenges in this transformed marketplace. According to the report, the global electrical SCADA market, which was estimated at US$2.4 Billion in 2020, is projected to reach a revised size of US$3.5 Billion by 2026, growing at a compound annual growth rate (CAGR) of 6.3% over the analysis period.

Key Takeaways:

  • The global electrical SCADA market is expected to reach US$3.5 Billion by 2026, growing at a CAGR of 6.3% over the analysis period.
  • Hardware segment is projected to record a 5.8% CAGR and reach US$1.7 Billion by the end of the analysis period.
  • Software segment is expected to experience a 6% CAGR for the next 7 years.
  • The U.S. market is estimated at US$694.4 Million in 2021, while China is forecast to reach US$723.8 Million by 2026.
  • Services segment to reach US$796.7 Million by the year 2026.
  • The global electrical SCADA market is expected to benefit from the growing demand for renewable energy sources and the increasing focus on energy efficiency.

Statistics:

  • The global electrical SCADA market is projected to reach US$3.5 Billion by 2026.
  • The hardware segment is expected to reach US$1.7 Billion by the end of the analysis period.
  • The software segment is expected to experience a 6% CAGR for the next 7 years.
  • The U.S. market is estimated at US$694.4 Million in 2021.
  • The global electrical SCADA market is expected to benefit from the increasing focus on energy efficiency, with the services segment experiencing a 7.1% CAGR.

Sources:

  • "Electrical SCADA - Global Market Trajectory & Analytics" report published by Global Industry Analysts Inc.
  • Global Industry Analysts Inc. website: www.StrategyR.com
  • MarketGlass Platform by Global Industry Analysts Inc.
  • Zak Ali, Director, Corporate Communications, Global Industry Analysts, Inc.
  • Phone: 1-408-528-9966
  • Email: ZA@StrategyR.com