Global SCADA Market in the Oil and Gas Industry 2016-2020

Outlook of the global SCADA market in the oil and gas industry

Technavio’s market research analyst predicts the global SCADA market in the oil and gas industry to grow at a CAGR of around 3% during the forecast period. Factors such as the exploration of new oil and gas fields and growing investments in refineries and pipelines in regions like the Americas, Africa, the Middle East, and APAC will fuel the prospects for market growth. Furthermore, with an increase in offshore and shale-related exploration activities, the demand for SCADA in the oil and gas industry will witness a stark increase until the end of 2020.

The rising demand for real-time information is the key driver for the growth of this market. Exploration and production are essential activities of the oil and gas industry that demand continuous maintenance to ensure the safety of employees, oil and gas equipment, and the natural environment. Since SCADA systems facilitate the real-time sharing of a well site’s condition, workers can monitor, visualize, and analyze oilfield operations from a remote location. The ability of SCADA to reduce operational costs and enhance the quality of drilling will result in its augmented adoption during the predicted period.

Segmentation by type and analysis of the SCADA market in the oil and gas industry  

• Solutions
• Services

This segmentation analysis estimates the SCADA solutions segment to account for more than 57% of the total market share by 2020. SCADA solutions are primarily composed of RTUs, communications systems, controllers, and HMI systems. Factors such as the availability of high-speed communication ports and high-powered CPUs will foster the adoption of SCADA automation solutions by oil and gas companies during the forecast period.