Industry Background:
Oil and gas automation involves digital technologies that help in energy-producing operations providing a safe working environment. This automation in the oil and gas industry also boosts efficiency, productivity, and effectiveness. Automation is involved in drilling, production process, process control, supply chain, logistics, safety, and retail operations. Oil and gas automation includes sensor-based IoT, predictive learning, artificial intelligence system, etc to cover up for the lack of skilled laborers.This growth is primarily driven by Demand for Automation in Every Industry for Efficiency, Productivity, Reduced Human Errors and Increased Laborer Safety.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Key Companies in Study | General Electric Automation (United States), ABB (Switzerland), Siemens AG (Germany), SAP SE (Germany), Eaton Corporation plc (Ireland), Robert Bosch GmbH (Germany), Dassault Systeme (France), Honeywell International Inc. (United States), Rockwell Automation, Inc. (United States), Johnson Controls International plc (Ireland), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Yokogawa Electric Corporation (Japan) and Emerson Electric Co. (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Business Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as General Electric Automation (United States), ABB (Switzerland), Siemens AG (Germany), SAP SE (Germany), Eaton Corporation plc (Ireland), Robert Bosch GmbH (Germany), Dassault Systeme (France), Honeywell International Inc. (United States), Rockwell Automation, Inc. (United States), Johnson Controls International plc (Ireland), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Yokogawa Electric Corporation (Japan) and Emerson Electric Co. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 8th July 2019, Emerson announced it has completed the purchase of Zedi’s software and automation businesses. The addition of Zedi’s cloud supervisory control and data acquisition (SCADA) platform will further enable Emerson, a global leader in automation, to help oil and gas producers increase production and lower operating costs through cloud-based monitoring, control, and optimization.
On 20th March 2020, SAP SE and Accenture launched a co-developed solution for upstream oil and gas companies based on SAP S/4HANA Cloud. Using intelligent technologies such as artificial intelligence (AI), the SAP S/4HANA Cloud solution for upstream oil and gas helps customers to further increase visibility into operations and cash flow. Additionally, the solution includes contributions from leading global oil and gas companies such as ConocoPhillips and Shell.The Oil and Gas Automation companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Market Drivers
- Demand for Automation in Every Industry for Efficiency, Productivity, Reduced Human Errors and Increased Laborer Safety
Market Trend
- Integration of IoT Platform in the Oil and Gas Operations for Avoiding the Hazardous Locations and Enabling Remote Monitoring Capabilities
Restraints
- There are Problems with the Chronic Skills Issues in the Oil and Gas Automation Market
Opportunities
Growing Government Investment in Oil and Gas Projects for Improving the Import and Export Operation will Boost the Oil and Gas Automation Market
Challenges
Issues with the Limited Availablity of Industry-specific Resources in the Oil and Gas Automation Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Oil and Gas Automation Study Sheds Light on
The Oil and Gas Automation Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Oil and Gas Automation industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Oil and Gas Automation industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.