The Global SCADA Oil & Gas Market was valued at USD 3.34 billion in 2016 and is projected to reach USD 5.55 billion by 2025, growing at a CAGR of 5.81% from 2017 to 2025.
SCADA is a highly configurable set of industrial software applications that can be used to support management of any form of process production. SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors. Benefits of SCADA oil & gas system includes – better control and coordination, enhance safety, asset optimization, increase in the reliability, reductions in the time, effort and cost of integration, gather and process real-time data.
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1. Market Drivers
1.1 Rising adoption of big data analytics and cloud computing services
1.2 Increased R&D in the wireless sensor networks in SCADA systems
1.3 Rising demand for remote management of oil & gas pipelines
1.4 Growing pipeline networks
1.5 Optimum and effective exploration of ageing reservoirs
1.6 Growing focus on process optimization through automation and digitalization
2. Market Restraints
2.1 Increasing cyber security threats
2.2 Issues with the interoperability of multiple system components from different solutions providers
2.3 Changing oil & gas prices
2.4 High investment cost
The Global SCADA Oil & Gas Market is segmented on the stream, component, and region.
2. By Component:
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Schneider Electric Se
2. Mitsubishi Electric Corporation
3. General Electric Company
4. PSI AG
5. Emerson Electric Co.
6. Honeywell International Inc.
7. Technipfmc, PLC
8. ABB Ltd.
9. Rockwell Automation, Inc.
10. Siemens AG
11. Yokogawa Electric Corporation
12. Larsen & Toubro Limited
13. IBM Corporation
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global SCADA Oil & Gas Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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