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.
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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.
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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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