Industrial Automation Oil & Gas Market
Industrial Automation Oil & Gas Market is expected to grow at a CAGR of around 5 % from 2021-2027.
NOIDA, UTTAR PRADESH, INDIA, November 28, 2022 /EINPresswire.com/ — According to a new report published by UnivDatos Markets Insights the Industrial Automation Oil & Gas Market is expected to grow at a CAGR of around 5 % from 2021-2027. The analysis has been segmented into Process (Upstream, Midstream, Downstream); Solution (Supervisory Control and Data Acquisition (Scada), Programmable Logic Controller (Plc), Human-Machine Interface (Hmi), Plant Asset Management (Pam), Others); Instruments (Field Instruments, Control Valves, Flow Meter, Process Analyzer, Leakage Detection System, Others);
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The industrial automation oil & gas market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the industrial automation oil & gas market. The industrial automation oil & gas market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the industrial automation oil & gas market at the global and regional levels.
The demand for industrial automation oil & gas has been increasing rapidly all over the globe owing to the growing integration of cyber-physical systems, IoT, and cloud computing in the oil and gas industry. For instance, Zyfra builds an Industrial Internet of Things (IoT) Platform, and the startup’s IIoT products for upstream feature the field development platform Geonaft, a software-based precision drill, production scheduling, artificial lift, and predictive maintenance tools among others. Zyfra’s IIoT solutions allow oil companies to optimize their processes in real-time while helping field operators and workers to improve efficiency and safety.
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The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the oil and gas industry and has transformed the way oil and gas are delivered. The COVID-19 pandemic has significantly affected the industrial automation oil & gas market as there has been a decrease in the use of comprehensive surveillance and analysis systems during the lockdown in the industries due to which the demand for industrial automation oil & gas has decreased.
The global industrial automation oil & gas market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
• Based on process, the market is fragmented into upstream, midstream, and downstream. The upstream process will grow significantly in the industrial automation oil and gas market during the forecasted period. This is due to its applications such as tank management, well optimization, well test management, injection control, surface control management, scada system for oil and gas. In addition, drilling is one of the upstream segments that benefited from the industrial automation of oil & gas. Furthermore, IoT solutions backed by analytics will permit upstream solutions to keep track of the extraction process from a distanced location in real-time. Through software integration companies can link the latest technologies to change the entire maintenance process by transforming it into a proactive one. Hence, these factors will drive the market growth of industrial automation oil and gas in the coming years.
• Based on the solution, the market is fragmented into supervisory control and data acquisition (scada), programmable logic controller (plc), human-machine interface (hmi), plant asset management (pam), and others. In 2020, plant asset management (pam) is seen dominating the growth of the industrial automation oil & gas market. This is mainly due to its use in managing long-term and short-term scheduling of operations. In addition, plant asset management (pam) software reduces the cycle time of the operational process, which comprises the production, treatment, transportation, maintenance, and realization of hydrocarbon products. Furthermore, industrial automation oil & gas has several operations such as scheduling, executing, and monitoring. These operations have to be planned well to increase profitability. Moreover, these solutions also help oil and gas plants to reduce operational costs, without increasing any risk pertaining to unplanned downtime or employee and environment safety. Hence, the industry needs plant asset management (pam) solutions to ensure the safety and operational efficiency of oil and gas plants and these factors signify its growth during the forecasted period.
• Based on the instruments, the market is fragmented into field instruments, control valves, flow meters, process analyzers, leakage detection systems, and others. During the forecasted period, the field instruments segment is seen dominating the growth of the industrial automation oil & gas market. This is mainly due to four types of transmitters involved in instrumentation such as pressure, temperature, level, and vibration level switch. In addition, field instruments are the instruments that can adapt to IoT, and field parameter analysis propels the market in industrial automation for the oil & gas market. Hence, pressure transmitters are extensively used in the oil and gas sector for the measurement of flow, level, pressure, density, and viscosity, among which flow measurement is the most common application area.
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Industrial Automation Oil & Gas Market Geographical Segmentation Includes:
• North America (U.S., Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)
• Asia-Pacific (China, India, Australia, Japan, and the Rest of Asia-Pacific)
• Rest of the World
For a better understanding of the market dynamics of the industrial automation oil & gas market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Geographically, the Asia-Pacific region dominated the industrial automation oil & gas market owing to the growth due to large-scale advancements and technological innovations in the oil & gas industry in the region.
The major players targeting the market include
• Cisco Systems Inc.
• Honeywell International Inc.
• Siemens AG
• ABB Ltd.
• Emerson Electric Co.
• Mitsubishi Electric Corp.
• Schneider Electric SE
• Endress+Hauser AG
• Rockwell Automation
• Yokogawa Electric Corp.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the industrial automation oil & gas market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the industrial automation oil & gas market?
• Which factors are influencing the industrial automation oil & gas market over the forecast period?
• What are the global challenges, threats, and risks in the industrial automation oil & gas market?
• Which factors are propelling and restraining the industrial automation oil & gas market?
• What are the demanding global regions of the industrial automation oil & gas market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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