The oil and gas automation market was valued at USD 11.23 billion in 2017 and is expected to reach a value of USD 18.03 billion by 2023 at a CAGR of 8.02% over the forecast period (2018 – 2023).
The scope of the study covers several types of control systems and associated instrumentation used for industrial oil & gas control, such systems can range from large interconnected and interactive distributed control systems with many thousands of field connections to a few modular panel-mounted controllers.
The increasingly diverse energy market and a shortage of skilled labor the automation of daily operations will be a key factor for sustainable growth in the oil & gas industry. With a growing worldwide population, the demand for new energy sources will increase as well as increase the costs for energy companies. By automating portions of daily operations, both on the job site and in the office, oil & gas companies can not only create efficiencies within their business but will also mitigate the effects caused by a lack of skilled labor currently available in the market.
Report Highlights
- Need For Higher Productivity and Efficiency
- Distributed Control Systems to Hold a Significant Market Share
- UAE to hold the Largest Market Share in the Middle East
Key Developments
- November 2017 – Rockwell Automation announced its investment in The Hive, a Silicon Valley innovation fund and co-creation studio, to gain access to an ecosystem of innovators and technology start-ups with a focus on applications of artificial intelligence (AI) to industrial automation.
- November 2017 – Schneider Electric launched a new service designed to help industrial manufacturers modernize their PLC systems safely. By reducing downtime and disruption to the operation, the service may provide an easier migration to the company’s Modicon M580 programmable automation controllers.
- October 2017 – Mitsubishi electric announced that it will launch its newest MELSEC iQ-R Series general-purpose programmable controller, the IEC 61508 SIL 2-compliant redundant programmable controller paired with a redundant-function SIL2 CPU set for high performance and extra reliability
- September 2017 – Dassault Systems acquired EXA Corporation, a global innovator in simulation software for product engineering. This acquisition strengthens the company’s Simulation Portfolio with next-generation fluid dynamics capabilities on the 3DEXPERIENCE Platform.
- June 2017 – GE launched New Solutions Purpose Built for Industrial Assets. GE Digital launched an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax which is company’s cloud-based field service management solution, with its intelligent Asset Performance Management portfolio to develop service operations, reduce cost and eliminate unplanned downtime.
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
3. Market Analysis
3.1 Market Overview
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products
3.2.5 Competitive Rivalry
3.3 Value Chain Analysis
4. Market Dynamics
4.1 Drivers
4.1.1 Increased Focus on Developing Manufacturing Economies
4.2 Restraints
4.2.1 Lack of Skilled Workforce
5. Industry Policies
6. Technology Snapshot
7. Global Process Automation Market Segmentation
7.1 By Technology
7.1.1 SCADA
7.1.2 PLC
7.1.3 DCS
7.1.4 MES
7.1.5 PLM
7.1.6 ERP
7.1.7 HMI
7.1.8 Others
7.2 By Type of Offering
7.2.1 Hardware
7.2.2 Software
7.2.3 Services
7.3 By Communication Protocol
7.3.1 Wired Protocol
7.3.2 Wireless Protocol
7.4 By End User
7.4.1 Chemical & Petrochemical
7.4.2 Paper & Pulp
7.4.3 Water & Waste Water Treatment
7.4.4 Energy & Utilities
7.4.5 Oil & Gas
7.4.6 Pharmaceutical
7.4.7 Food and Beverages
7.4.8 Others
7.5 By Geography
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8. Competitive Intelligence
8.1 ABB Ltd.
8.2 Honeywell International Inc.
8.3 Rockwell Automation Inc.
8.4 Mitsubishi Corporation
8.5 Schneider Electric SE
8.6 Emerson Electric Co.
8.7 Eaton Corporation
8.8 Dassault Systems
8.9 Yokogawa Electric Corporation
8.10 Siemens Corporation
8.11 Robert Bosch GmbH
8.12 Texas Instruments Inc.
8.13 Johnson Controls Inc.
9. Investment Analysis
10. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/33qfm7/global_oil_and?w=5
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