Automation Solutions Market in the Oil and Gas Industry by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR40070

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The automation solutions market size in the oil and gas industry has the potential to grow by USD 1.73 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.32%. 

This report provides a detailed analysis of the market by product (SCADA, DCS, PLC, and MES), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • ABB Ltd.
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Mitsubishi Electric Corp.
  • OMRON Corp.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Yokogawa Electric Corp.

 

The automation solutions market in the oil and gas industry is fragmented and the vendors are deploying growth strategies such as horizontally integrating with system integrators and regional automation service providers to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the rise in the global demand for oil and gas to achieve growth opportunities. However, factors such as growing cybersecurity concerns will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the automation solutions market forecast report of the oil and gas industry for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This automation solutions market analysis report of the oil and gas industry also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Automation Solutions Market in the Oil and Gas Industry: Key Drivers and Trends

  • The rising energy demand across the globe has increased the need for oil and gas. This, in turn, has augmented investments in midstream infrastructure.
  • Investments in infrastructure include the expansion of oil terminals and the construction of pipelines, which have a direct impact on the demand for oil and gas automation solutions.
  • Automation systems such as SCADA and DCS are implemented to overcome common problems, such as the unstable flow of fluids through pipelines and risers in the upstream segment.
  • The upstream oil and gas sector also has a large-scale implementation of automation solutions for diverse applications. As a result, the oil and gas automation solutions market growth will be substantial during the forecast period.
  • The oil and gas industry is adopting IoT-enabled electric components and equipment to obtain increased efficiency and reduced downtime.
  • The adoption of automation systems such as ERP, PLM, and MES has increased the data generated in each plant.
  • This has created the need for big data analytics, which can break down organizational and operational data and system silos and automate the data gathering process across business operations.
  • Offshore electrical equipment is integrated with smart sensors, which also required the use of big data analytics.
  • The above factors will further influence the need for big data analytics and IoT in the industry, which will be one of the critical oil and gas automation solutions market trends.

 

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Automation Solutions Market in the Oil and Gas Industry: Segmentation by Geography

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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for automation solutions in the oil and gas industry in North America. Market growth in North America will be faster than the growth of the market in other regions.

The increased investments by government and oil and gas companies will facilitate the automation solutions market growth in the oil and gas industry in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Automation Solutions Market in the Oil and Gas Industry: Segmentation by Product

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SCADA plays a crucial role in ensuring the safety and security of personnel involved in the upstream process of the oil and gas industry by providing real-time information to decision-makers located away from the oilfields. In each sector, maintaining standards, quality, and efficiency of the assets is imperative for integral processes of exploration, extraction, refinement, and transportation of the resources (oil and gas). Hence, monitoring and controlling activities are vital to ensure the smooth functioning of these processes, which can be achieved by using SCADA systems. Therefore, this segment is expected to attain the highest year-on-year growth rate in the oil and gas industry during the forecast period.

Fetch actionable market insights on post COVID19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automation solutions market size in the oil and gas industry.

 

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Automation Solutions Market in the Oil and Gas Industry: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automation solutions market growth in the oil and gas industry during the next five years
  • Precise estimation of the automation solutions market size in the oil and gas industry and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automation solutions market in the oil and gas industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automation solutions market vendors in the oil and gas industry 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The automation solutions market growth will increase by $1728.59 million during 2020-2025.
The automation solutions market is expected to grow at a CAGR of 3.32% during 2020-2025.
Technavio has segmented the automation solutions market by product (SCADA, DCS, PLC, and MES) and geographic (North America, APAC, Europe, MEA, and South America).
ABB Ltd., Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corp. are a few of the key vendors in the automation solutions market.
North America will register the highest growth rate of 37.11% among the other regions. Therefore, the automation solutions market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Germany
  • China
  • Japan
  • France
  • Canada
The key factors driving the automation solutions market growth are:
  • Growing regulatory compliance
The automation solutions market vendors should focus on grabbing business opportunities from the scada segment as it accounted for the largest market share in the base year.
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