Sunday 15 December 2019

Oil & Gas SCADA Market To Accomplish Revenue Figures Worth USD 3.50 Billion By 2024


Global Oil & Gas SCADA Market Research Report by Architecture (Hardware, Software and Services), by Sector (Upstream, Midstream and Downstream) and by Region (Asia-Pacific, North America, Europe and the Middle East & Africa) - Forecast till 2024   

Oil & Gas SCADA Market – Overview
The requirement for monitoring equipment and managing data in real-time is motivating the oil & gas SCADA market. Reports that investigate the energy and power industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is set to garner incomes worth USD 3.50 Billion and is projected to flourish at a 5.90 % CAGR by 2024.
The development of policies that encourage the usage of IoT technology to increase downtime, efficiency, and operating cost is further motivating the oil & gas SCADA market. Furthermore, the need to arrange maintenance activities, and managing with third-party logistics to safeguard the smooth operation of the equipment is bolstering the progress of the oil & gas SCADA market around the world.


Segmental Analysis
The segmentation of the oil & gas SCADA market has been carried out on the basis of architecture, region, and sector.
On the basis of architecture, the oil & gas SCADA market is segmented into hardware, services, and software. Among these segments, the hardware sub-segment is anticipated to control the market due to increasing investments for including computerized devices in the oil & gas industry. Moreover, the hardware components are easy to put in within the current infrastructure, which is leading to higher shares of hardware sub-segment in the forecast period.
Based on the sector, the oil & gas SCADA market is segmented into midstream, upstream, and downstream.
Based on the regions, the oil & gas SCADA market is segmented into the Asia Pacific, North America, the Middle East & Africa, Europe, and South America.


Regional Analysis   
The regional study of the oil & gas SCADA market is segmented into regions such as Asia Pacific, North America, the Middle East & Africa, Europe, and South America.
As per the analysis, the North American region is estimated to influence the main share through the forecast period due to escalating investments in the pipeline infrastructure and increasing adoption of cloud facilities in the region. Moreover, the intensifying investments in refineries and the search for new oil & gas fields in the US and Canada are also anticipated to improve the demand for a dependable system to capture the real-time data, leading to the augmented installation of SCADA systems in the oil & gas industry.  

Competitive Analysis
The central competitors functioning in the oil & gas SCADA market are General Electric (US), Schneider Electric SE (France), Siemens (Germany), Larsen & Toubro Limited (India), ABB (Switzerland), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), Rockwell Automation, Inc. (US), Honeywell International Inc. (US), PSI AG (Germany), Technipfmc, Plc (UK), Mitsubishi Electric Corporation (Japan), and International Business Machines Corporation (IBM) (US).


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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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