The worldwide supervisory control and data acquisition (SCADA) market is projected to grow at a 5% compound annual growth rate (CAGR) and increase from $23.2 billion in 2013 to $32.70 billion by 2020, according to a new market report, "SCADA Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020," by Transparency Market Research.
The report adds that demand for reliable power distribution and transmission among different industries, increasing need for SCADA systems in the oil and gas industry and growing infrastructure investments in efficient oil extraction in the Asia-Pacific region are likely to accelerate the growth of the SCADA market during the 2014-2020 forecast period.
