The report "SCADA Oil & Gas Market - Trends and Global Forecast to 2022", expects the market to grow from an estimated USD 3.42 Billion in 2017 to USD 4.52 Billion by 2022, at a CAGR of 5.77%. The market is set to witness growth, due to increasing investments in pipeline networks, increasing penetration of cloud computing services in the SCADA system, and increased thrust on process optimization through automation and digitalization.
With regard to the value stream, the midstream segment in the SCADA oil & gas market is expected to be the largest market in 2017. The growth in shale oil and gas production in the US is creating need for an expanded network of pipelines, rails, tankers, and terminals. The countries such as China, India, and Saudi Arabia are also expected invest in the oil & gas infrastructure in the next 5 years. These investments are likely to drive the SCADA oil & gas market during the forecast period.
The hardware segment dominated the SCADA oil & gas market during the forecast period. The segment mainly involves Remote Terminal Equipment (RTU) or Programmable Logic Controller (PLC), communication equipment, field instrument, and control devices. Rising investments focused on automated devices in the oil & gas infrastructure is expected to drive the hardware segment.
The market in North America is expected to dominate the global SCADA oil & gas market. Driven by the increasing need for tracking real-time data, improved visibility, and control on production activities, the region is expected to witness rise in adoption of SCADA in the oil & gas industry. Growing investments in refineries and exploration of new oil and gas fields in the US and Canada are also expected to drive the demand for SCADA in the oil & gas industry.
To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the SCADA oil & gas market. These players include ABB Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Yokogawa Electric Corporation (Japan), General Electric Company (US), Honeywell International Inc. (US), CygNet Software, Inc. (US), Siemens AG (Germany), Quorum Business Solutions, Inc. (US), Larsen & Toubro Limited (India), ZTE Corporation (China), PSI AG (Germany), Mitsubishi Electric Corporation (Japan), Orbcomm Inc. (US), Iconics, Inc. (US), Detechtion Technologies (US), eLynx Technologies, LLC (US), Globalogix, Inc. (US), TRC Advanced Technologies Inc. (US), Inductive Automation (US), International Business Machines Corporation (US), Ausenco Ltd. (Australia), Emerson Electric Co. (US), Bentek Systems (Canada), and PetroCloud, LLC (US). Leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market share.
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Source: ASDReports - Market Research
Date: Oct 5, 2017