Oil and Gas SCADA Market Scenario
SCADA
is one of the most significant tools for monitoring equipment and processing
data in real-time. This system is widely used in upstream, midstream, and
downstream processes. In upstream process, SCADA is generally used for remote
data transmission. However, the role of SCADA is changing due to the
advancements in the oil & gas industry. Moreover, apart from data
transmission, this system can be used not only to control and supervise many
types of industrial processes but also to optimize the complex coordination of
operations among multiple business partners. The global oil & gas SCADA
market is estimated to grow with a 5.90% CAGR during the forecast period.
SCADA
system comprises of various subsegments and components including programmable
logic controllers (PLCs), industrial PCs, RTUs, servers, telemetry systems, and
a supervisory system.
The
growing demand for SCADA in the oil & gas industry is attributed to the
increasing demand for remote management of oil & gas pipelines, growing
pipeline networks, and increased use of cloud computing services in SCADA
systems.
It
is a control system that facilitates a high-level of supervision of critical
operations in industries such as oil & gas, manufacturing, and transportation.
In the oil & gas industry, accurate real-time data is very essential for
calibrating the equipment, schedule maintenance activities, and coordinating
with third-party logistics to ensure the smooth operation of the equipment.
Additionally,
governments in various economies around the globe are developing policies to
encourage the use of IoT technology to improve efficiency and reduce downtime
and operating cost. According to Oxford Economics, in the oil & gas
industry adoption of IoT could increase the global GDP by approximately USD 816
billion from 2018 to 2028, thereby boosting the oil & gas SCADA market
during the forecast period.
Leading Players
The
key players of global oil & gas SCADA market are ABB (Switzerland), General
Electric (US), Schneider Electric SE (France), Siemens (Germany), Rockwell
Automation, Inc. (US), Larsen & Toubro Limited (India), Mitsubishi Electric
Corporation (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric
Co. (US), Honeywell International Inc. (US), PSI AG (Germany), Technipfmc, Plc
(UK), and International Business Machines Corporation (IBM) (US).
Industry Segmentation
The
oil & gas SCADA market is segmented based on architecture into hardware,
software, and services. The hardware segment dominated the Oil & Gas SCADA
market. Hardware subsegment is expected to dominate the market owing to the
rising investments that are focused on automation in the oil & gas
industry. Additionally, hardware components can be easily installed with the
existing infrastructure. This also leads to the large share of the hardware
subsegment during the forecast period.
Scope of the Report
This
research report provides insights into various levels of analysis, such as
industry analysis and market share analysis for the leading industry
competitors, along with their profiles. It also helps in studying the target
segments by providing views on the emerging & high-growth segments. The
market data comprises the basic assessment of the competitive scenarios and
strategies in the global oil & gas SCADA market, including high-growth
regions and/or countries, and political and economic environments. The project
report further provides both – historical market values and pricing & cost
analysis
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