POWER SCADA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Power SCADA Market, By Architecture (Software, Hardware, and Services), By Component (Master Terminal Unit (MTU), Remote Terminal Unit (RTU), Human Machine Interface (HMI), Programmable Logic Controller (PLC), Communication System, and Others), By End-User (Oil & Gas, Water and Wastewater, Metal and Mining, Chemicals, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Published In : Mar 2024
Code : CMI6755
Pages :138
Formats :
Excel and PDF
Industry : Energy

Market Concentration and Competitive Landscape

Power SCADA Market Concentration By Players

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Growing Reliance on Renewable Energy

Rising concern over climate change coupled with advancements in renewable energy technologies have prompted many nations to substantially increase the amount of power sourced from emission-free alternatives like solar, wind, and hydroelectric. Ambitious renewable portfolio standards and carbon reduction pledges have created a surge in new renewable energy capacity additions globally over the past decade. According to the International Energy Agency in 2021, the share of renewables in the world's total power generation mix could rise to over 30 % by 2040 if current policy commitments are fulfilled. While a positive trend environmentally, integrating large amounts of variable renewable sources like wind and solar into existing power networks presents technical challenges that grid operators are addressing through intelligent monitoring and controls. SCADA systems empower grid operators to maintain a stable supply of electricity even as the proportion of intermittent renewable generation grows significantly on their systems. For example, SCADA enables utilities to identify high wind and solar yield periods allowing excess power to be routed or stored effectively.

Key Players Insights