The global market for SCADA water and wastewater management is highly competitive in nature and is projected to remain in the similar situation in the next few years, states a new market research study by Transparency Market Research. It is moderately consolidated in nature with a few number of players holding a major share of the market. The key players in the market are focusing on the expansion of the product portfolio, which is predicted to enhance the market penetration in the next few years. In addition to this, the rising number of mergers and acquisitions is projected to support the growth of the overall market in the coming few years. Some of the key players that are operating in the SCADA market for water and wastewater management are Yokogawa Electric Corporation, ABB Ltd., Schneider Electric, Emerson Electric Co., Rockwell Automation Inc., Eaton Corporation, Honeywell International Inc., Tesco Controls Inc., SCADAware, and Parasyn.
As per the market research study by Transparency Market Research, in 2015, the SCADA market for water and wastewater management was worth US$1,267.4 mn and is projected to reach a value of US$2,172.1 mn by the end of 2025. The market is likely to register a healthy 5.60% CAGR between 2015 and 2025.
North America and Europe to Lead Global Market in Coming Years
The global market for SCADA for water and wastewater management has been categorized on the basis of geography into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. Among these, North America is expected to account for a large share of the global market in the next few years. The increasing popularity of cloud-based SCADA is one of the major factors estimated to encourage the growth of this region in the next few years. Furthermore, Europe is projected to witness a healthy growth in the coming years. On the other hand, Asia Pacific is projected to register a strong growth rate in the next few years, thanks to the rising demand for employing efficient processes.
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On the basis of end use, the global market has been categorized into industrial and residential. The industrial segment has been further classified into food and beverages, chemical, pharmaceuticals, and others. The residential segment has been further segmented into private and government. As per the research study, the industrial segment is projected to account for a large share of the market in the coming few years. The rising contribution from the food and beverage segment is the key factor projected to enhance the growth of the overall market in the near future.
Technological Developments to Encourage Market Growth
The increasing demand for water and wastewater treatment is one of the major factors estimated to encourage the growth of the global SCADA market for waste and wastewater management in the next few years. The rising government investments and the technological advancements in this field are further projected to enhance the growth of the overall market in the coming few years. The key players in the market are focusing on developing economies, which is projected to enhance the growth of the market throughout the forecast period.