Global Automation Solutions in Oil & Gas Industry was valued at USD 3.09 billion in 2016 and is projected to reach USD 9.70 billion by 2025, growing at a CAGR of 47.65% from 2019 to 2026.
The dependence of the oil and gas (O&G) industry on automation has increased in the last decade, and this is expected further to double by 2023. As a result of project cancellation followed by the fall in crude oil prices from 2014 to 2016, multiple rounds of industry layoffs were announced that left O&G companies with reduced number of skilled workers. This increased the dependence of oil companies on automation in order to complete processes without any delay. Initiatives to digitize oil fields are being implemented, and this has led to investing in instrumentation in order to increase productivity and complete projects within defined budgets and timelines. These initiatives have been found to be extremely beneficial, especially in offshore rigs, to gathering production data in a timely manner. However, the current industry challenge is not the inaccessibility of data, but rather how to make the large volume of gathered data more effective. In response to this challenge, the automation sector has evolved from supplying hardware equipment with aftermarket services to becoming more service-based and offering software tools that can translate huge volumes of data into meaningful, intelligent information that can be leveraged to make important business decisions.
Worker and environment safety in oil fields has to be given utmost priority because it deals with dangerous operations in remote locations. One way to ensure safety is to install safety systems at field locations that can detect unexpected events even before they occur by analyzing the pattern from historic data collected. The trend of selling individual control systems—such as a distributed control system (DCS), supervisory control and data acquisition (SCADA), safety instrumented system (SIS), manufacturing execution system (MES), and industrial asset management (IAM)—has changed as demand for an integrated system with multiple functionalities has found to increase. Currently, automation vendors are working towards building Internet of Things (IoT) platforms to connect plants from various locations. These IoT platforms eliminate the need for workers to go to hazardous locations for standard monitoring purposes by enabling remote monitoring capabilities. These platforms can connect every system in every plant at every location, which improves the plant operations visibility to the service providers, customers, and plant managers are responsible for decision making. With IoT platforms, customers are provided with the option to choose the required services as per their specific needs..
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Prominent Market Key Players:
Emerson Electric Co., General Electric Co., IBM Corp, Intel Corp , Microsoft Corp.& More
Global Automation Solutions in Oil & Gas Industry 2019-2026 in-depth study accumulated to supply latest insights concerning acute options. The report contains different predictions associated with Automation Solutions in Oil & Gas Industry size, revenue, production, CAGR, consumption, profit margin, price, and different substantial factors. Whereas accentuation the key driving and Cloud Based Office Productivity Software restraining forces for this market, the report offers trends and developments. It additionally examines the role of the leading Automation Solutions in Oil & Gas Industry players concerned within the business together with their company summary, monetary outline and SWOT analysis.
The objective of Automation Solutions in Oil & Gas Industry report is to outline, segment, and project the market on the idea of product types, application, and region, and to explain the factors concerning the factors influencing global Automation Solutions in Oil & Gas Industry dynamics, policies, economics, and technology etc.
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Key Highlights of Our Report:
Scope of Automation Solutions in Oil & Gas Industry Report:
Market Segmentation by Technology:
- In-depth analysis of the Automation Solutions in Oil & Gas Industry
- Strategic planning methodologies
- Applicable and effective sales methodologies
- Detailed elaboration on drivers, restraints, and opportunities
- Analysis of different financial aspects
- Tracking of global opportunities
- Latest industry trends and developments
- E&P software
- Big data
- Cloud computing
- Data monetization
The report provides in-depth comprehensive analysis for regional segments that covers North America, Europe, Asia-Pacific, Middle East and Africa and Rest of World in Global Outlook Report with Market definitions, classifications, manufacturing processes, cost structures, development policies and plans.
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The Automation Solutions in Oil & Gas Industry has been examined based on following parameters:
- History Year: 2014-2018
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year 2019 to 2026
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Question Answered??
- What are the top key players of the Automation Solutions in Oil & Gas Industry?
- What are the strengths and weaknesses of the Automation Solutions in Oil & Gas Industry?
- What are the highest competitors in the market?
- What are the different marketing and distribution channels?
- What are the global market opportunities in front of the market?
- What are the key outcomes of SWOT and Porter's five techniques?
- What is the global market size and growth rate in the forecast period?
A 360-degree synopsis of the competitive scenario of the Automation Solutions in Oil & Gas Industry is presented in this report. It has an enormous data allied to the recent product and technological developments in the markets. It has a comprehensive analysis of the impact of these advancements on the market’s future growth, wide-ranging analysis of these expansions on the market’s future growth.
Major TOC Of Report:
PART 01: Executive summary
PART 02: Scope of the report (2019-2026)
PART 03: Research Methodology
PART 04: Introduction (Key market highlights)
PART 05: Market Landscape (Market Overview Size & forecast-2026)
PART 06: Five forces model
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Vendor analysis
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