SCADA in Water and Wastewater Management Market is Expected to Reach USD 2.78 billion by 2030
As per the report published by Kings Research, the Global SCADA in Water and Wastewater Management Market was valued at USD 1.83 billion in 2022 and is projected to reach USD 2.78 billion by 2030, growing at a CAGR of 5.52% from 2023 to 2030.
The SCADA in water and wastewater management is used to manage a variety of applications, including water treatment plants, wastewater treatment plants, tanks, and distribution systems. SCADA software can then monitor and control these devices based on real-time sensor data, ensuring reliable and efficient system operation. SCADA systems can help automate and optimize water & wastewater management processes, increasing efficiency and reducing costs. Water & wastewater utilities have access to public & private financing for infrastructure improvements and technology upgrades, including SCADA systems.
The requirement for real-time data processing in the energy sector is creating opportunities in the market. In addition to this, the need for remotely controlled system for managing data within the energy sector is driven by the rapid technical advancement which expands the industrial applications of SCADA technologies. As a result, SCADA systems aid organizations, businesses, and industrial units in accelerating industrial processes and improving production capabilities which augments the market growth.
- Based on component, the software segment is growing at a CAGR of 6.05% over the forecast period
- Based on end user, the residential segment generated the highest revenue of USD 1.17 million in 2022
- On the basis of region, North America accounted for the largest market share of 38.20% in 2022
BLTI is Acquired by Inframark, LLC to Expand their Product Portfolio
April 2022: Inframark, LLC acquired BLTI to help customers optimize and efficiently operate their water, sewer, and infrastructure assets.
Increasing Investment in Water and Wastewater Infrastructure to Drive the Market Growth
Water and sanitation infrastructure is crucial for public health, environmental sustainability, and economic growth. There is an increased number of aging water and wastewater systems that require significant investment to improve their efficiency and protect public health and the environment. According to the Environmental Protection Agency (EPA) of the United States, the nation's water and sanitation infrastructure requires an additional investment of USD 629 billion to maintain and upgrade the systems.
The significance of investment in water and sanitation infrastructure has been increasingly recognized in recent years, and governments and private investors are committed to supporting these critical systems. The main benefit of investing in water and sanitation infrastructure is that it can improve public health and safety. Safe drinking water is essential to prevent the spread of waterborne diseases, which can have serious consequences for the health of individuals and communities. Inadequate sanitation facilities can also contribute to waterborne diseases and other public health problems owing to which market vendors are focusing on investments in sanitation infrastructure which fosters the market size.
Availability of Cloud-based SCADA System in Water and Wastewater Management to Augment the Market Growth
Water treatment plants and water usage facilities can do their part by making sure their monitoring equipment is up-to-date and as accurate as possible. The cloud-based SCADA collects real-time data from hazardous areas, which can then be researched, compared, and shared with researchers in a more efficient, digital manner. Researchers can have the most precise knowledge to capitalize on by comparing the data points, which would lead to better outcomes and faster responses. The cloud computing platform allows water and wastewater utilities to leverage redundancy and disaster recovery capabilities far more than traditional water and wastewater utilities, providing lucrative opportunities for market growth.
The SCADA in Water and Wastewater Treatment Market in North America is Expected to Continue to Grow Over the Estimated Timeframe with a CAGR of 5.11%
The increasing use of cloud-based SCADA systems among water and wastewater utilities, which can provide a more cost-effective and flexible solution compared to traditional on premise systems accelerates the market growth. In addition to this, another trend propelling the market growth is an increased focus on data analytics and machine learning techniques to help improve water management outcomes.
Several water and wastewater utilities across the region use these systems to help them meet regulatory requirements, including water quality monitoring and reporting. Furthermore, electronic health records are an essential component of the way significant healthcare institutions operate and the usage of SCADA strengthens how electronic health records transmit an effect of integrity and coherence in the way healthcare facilities operate which propels the regional market growth.
Asia Pacific is the Second Dominating Region with a Forecasted CAGR of 8.80% Over the Projected Timeline
Rising infrastructure investments to support smart cities and smart transit projects are expected to stimulate the demand for SCADA in water and wastewater management in the coming years. These systems are anticipated to be critical to the effective and seamless operation of several areas of urban infrastructure operations. Public & private companies across the region are investing significantly in this segment, which indicates the growing demand for advanced SCADA software solutions in the water and wastewater sector.
With continuing expenditures in infrastructure and technological upgrades, the Asia Pacific market is likely to rise significantly. Furthermore, the use of SCADA systems across the region in water and wastewater management is observed as an essential component as it increases the efficiency, sustainability, and resilience of water management systems.
Key Market Vendors are Focusing on Acquisition Strategies to Strengthen their Market Share
Significant players in the market, such as ABB, Anglian Water Services Limited, Aquanet Engineered Water Solution, BLTI, Eaton, Emerson Electric Co., General Electric Company, Hitachi, Ltd., Honeywell International Inc., PSI Software AG, Rockwell Automation, Yokogawa Electric Corporation, and others are concentrated on expanding their business through acquisitions, partnerships, product introductions, collaborations, and mergers.