The vendors operating in the oil and gas industry are forever eyeing methods that can help them reduce management costs, extract the maximum out of the current assets, and increment the up-time. A recent business intelligence study by Transparency Market Research (TMR) has notified that automation methods are helping oil and gas industry to achieve operational excellence, gaining strong impetus from mobility, cloud, and analytical measures that offer real-time production data. Owing to depleting natural reserves and incremented exploration activities, the demand in the global oil and gas automation market is projected to increment at a notable CAGR during the forecast period of 2017 to 2025.
The report, titled “Oil & Gas Automation Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” has been prepared with a solitary goal to serve as a reliable business tool for its targeted audiences such as oil and gas refinery companies, sensors and meter manufacturing companies, industrial automation solution companies, automation solution developers, automation consultants, technology investors, and research organizations and consulting companies.
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The analysts of this report on the global oil and gas automation market have developed through study pertaining to the commerce of the market, kicking off with an executive summary on the current scenario and what can be expected in the future. Moving on, there is a chapter on in-depth analysis on dynamics that are expected to define the demand going forward, such as restraints, drivers, and trends. Strong emphasis has been given on the segmentation of the market as it is essential for any business to identify which aspects have stronger demand rather than concentrating on a tradition. At the end, the report contains a featured section on the competitive landscape of the global oil and gas automation market, wherein a number of prominent companies have been profiled for their product portfolio, market shares, technological expertise, and geographical presence.
Some of the key factors driving the demand in the global oil and gas automation market are: advent of the Internet of Things (IoT) that is primed to add strong value to industrial automation and the growing need to optimize and raise effectiveness of aging reservoirs. On the other hand, declining prices of oil and gas, instability of a number of oil and gas producing countries in the Middle East, growing adoption of renewable energy resources, and issues pertaining to data integration and up-gradation of systems are a few challenges obstructing the prosperity of the global oil and gas automation market. Nevertheless, the companies connected to the value chain of the global oil and gas automation market stand a strong chance if they work on new opportunities such as Industrial Revolution 4.0 and growing investment on oil and gas market in emerging economies.
Based on solution, the oil and gas automation market can be segmented into distributed control system (DCS), programmable logical controller (PLC), supervisory control and data acquisition (SCADA), safety automation, human-machine interface (HMI), advanced process control, and manufacturing execution system (MES). Instrument-wise, the market can be bifurcated into control valves, field instruments, leakage detection system, and flow computer. Geographically, the report gauges the potential of demand that can be expected from every important region and country across the world during the forecast period.
Siemens AG, ENI, Rockwell Automation, ABB, Schneider Electric SE, Emerson Electric Co, Honeywell International Inc., and General Electric Co. are some of the key companies currently operating in the global oil and gas automation market.