The Global SCADA Oil & Gas Market was valued at USD 3.59 Billion in 2017 and is projected to reach USD 5.59 Billion by 2025, growing at a CAGR of 5.9% from 2018 to 2025.
What is SCADA Oil & Gas?
SCADA is defined as a set of applications that are used for the function of supporting the management of process productions. SCADA is applied extensively in oil and gas processes such as the upstream, midstream and downstream sectors.
SCADA Oil & Gas Industry
SCADA implies a highly configurable set of industrial software applications that can be used to support management of almost any form of process production. SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors. In the upstream sector, its role often is stereotyped as being largely in support of remote data transmission. There are reasons to believe this will change. One reason to believe so is the wide and varied use of SCADA in other industrial sectors. In addition, owners and operators are recognizing how IT-based automation can productively address even the unique challenges of the upstream oil and gas sector.
Advances in the scope and scale of oil and gas SCADA implementations are seen in upstream environments, including fast-paced shale fields. These SCADA instances face industrial processes while also intersecting with business operations. In other words, besides being a medium for process control, SCADA supports the vital operations-coordination role. It does so by being a source of collected data.
“The investment climate in the oil and gas industry the last two years has been challenging. But a focus on integration and automation continues to be relevant,” said Doug Rauenzahn, global product line director at Weatherford International. “A pause in rapid expansion has given engineers a chance to plan. In low-price markets, productivity gain from automation has greater impact on the bottom line.”
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Automation and service companies and small entrepreneurial suppliers are betting that SCADA will be a powerful platform solution for streamlined operations at many different points in the oil and gas supply chain. Better control and coordination of complex site operations means lower costs to produce oil or gas.
SCADA technology has been under constant development for about the last 30 years. During this time, the SCADA concept footprint grew from a boxed application for engineers fiddling with a PC, to become-when used in conjunction with programmable logic controllers (PLCs), devices and device drivers-a paradigm for distributed industrial control.
Global SCADA Oil & Gas Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
There are several benefits of the SCADA application that are driving the growth of its market such as the cost of integration, the processing of real time data, asset optimization, the reliability of the system as well as the improvement in the control and coordination of the various systems.
Planet Market Reports narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global SCADA Oil & Gas Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global SCADA Oil & Gas Market Competitive Landscape
The “Global SCADA Oil & Gas Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Schneider Electric Se, Mitsubishi Electric Corporation, General Electric Company, PSI AG, Emerson Electric Co., Honeywell International Inc., Technipfmc, PLC, ABB Ltd., Rockwell Automation, Inc., Siemens AG, Yokogawa Electric Corporation, Larsen & Toubro Limited, IBM Corporation. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global SCADA Oil & Gas Market, By Stream
Global SCADA Oil & Gas Market, By Component
Global SCADA Oil & Gas Market Geographic Scope
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of the World
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