Global Automation Solutions Market in the Oil and Gas Industry 2016-2020
About Operations in the Oil and Gas Industry
Operations in the oil and gas industry are divided into three major sectors: upstream, midstream, and downstream. Oil and gas companies in this industry are specialized in operations related to either of the three sectors. However, there are large integrated oil and gas companies, such as ExxonMobil, BP, and Chevron that have operations in all three sectors.
Technavio’s analysts forecast the global automation solutions market in the oil and gas industry to grow at a CAGR of 1.1% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global automation solutions market in the oil and gas industry for 2016-2020. To calculate the market size, the report considers the revenue generated from sales and aftermarket services of automation solutions in the oil and gas industry.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automation Solutions Market in the Oil and Gas Industry 2016-2020
Technavio recognizes the following companies as the key players in the global automation solutions market in the oil and gas industry: ABB, Emerson Electric, Honeywell, Rockwell Automation, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Beckhoff, FANUC, GE, Hitachi, IDEC, Koyo Electronics, Mitsubishi Electric, Omron, Parsec Automation, and Yokogawa.
Commenting on the report, an analyst from Technavio’s team said: “Increased acceptance of Ethernet networking protocols in the oil and gas networking sector will be a key trend for market growth. Technological advances have made Industrial Ethernet robust and reliable for harsh applications in the oil and gas industry. For midstream infrastructure, Industrial Ethernet is the de facto solution for communications because it provides easy interoperability and system integration. In a typical SCADA architecture, each compressor station or tank farm controller is referred to as RTU. These RTUs are connected to each other through centralized control and monitoring centers via Industrial Ethernet.”
According to the report, rise in implementation of digital oilfield solutions will be a key driver for market growth. Oil and gas companies are responding to decline in oil prices by focusing on improving efficiencies and cutting costs. They are incorporating digital oil field solutions that incorporate advanced hardware, software, and data analysis techniques to enhance the productivity of oil and gas production.
Further, the report states that threat from open-source industrial automation software will be a challenge for the market. An open-source automation software is an independent platform that provides a set of software development tools, which can be integrated into different ways to produce a unique product and service. The open-source communities offer development libraries, interface applications, mass configuration tools, and front and back-end applications.
ABB, Emerson Electric, Honeywell, Rockwell Automation, Schneider Electric, Siemens, Beckhoff, FANUC, GE, Hitachi, IDEC, Koyo Electronics, Mitsubishi Electric, Omron, Parsec Automation, Yokogawa.
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