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Global Data Historian Industry

Global Data Historian Industry

  • September 2020
  • 350 pages
  • ID: 5798311
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

The global market for Data Historian is projected to reach US$1.1 billion by 2025, driven by the rise of industrial big data and the growing importance of storing process data for time-series analysis to extract phenomena like long-term trends, cyclical fluctuations and anomalies. With modern businesses operating in data-intensive environments, data is at the core of about every vital business decision. Data volumes are increasing at an alarming rate with organizations becoming more scattered and large number of sensors being used. Consolidating and managing the large amount of industrial big data derived from various devices, systems and applications has become a major challenge for industries. On the other hand, rapid expansion of businesses has further increased the need for precise information to make accurate decisions. Growing in popularity under this scenario is data historian also called as operational historian or process historian, and defined as an intelligent software program which captures and retrieves production as well as process data by time and stores data in a time series database. Few of the benefits that strengthen the business case for data historian include  high speed data acquisition; 50x data compression;  reduced storage space;  effective in capturing plant IoT data; complete capture of plant operating data; enables complex event processing; query interfaces that feed into enterprise BI pipes; quicker and informed decision making; and ensures business continuing and disaster recovery.

Among the numerous end-use industries, the oil and gas industry holds the largest share driven by increasing digitalization trend, growing demand for consolidating data for both process as well as performance enhancement.  Process historians have become an integral cog in digital transformation of oil companies, enabling to quickly automate as well as streamline business processes. PI historian software aids oil and gas companies in upstream operations to address key challenges such as production optimization, operational intelligence, condition based & predictive maintenance, real-time equipment monitoring, inspections and integrity management, real time drilling data, down hole measurements, and well integrity & well completions. In the downstream operations, the historian software aids in addressing challenges such as asset utilization, maximizing yield, operational intelligence, condition based & predictive maintenance, condition based & predictive maintenance, and hydrocarbon loss detection. The U.S, Europe and China represent the large markets worldwide with a combined share of 60.3%. China ranks as the fastest growing market with a CAGR of 5.9% over the analysis period supported by the changing attitude of the conventional manufacturing sector towards BI. The Chinese manufacturing and production sector is tactically implementing long-term digitalization strategies to achieve manufacturing success both locally and internationally. Illustrative of this is the fact that the domestic digital sector contributes over 6% to the countrys overall GDP. Asia-Pacific excluding China follows next with a 5.5% CAGR led by India and other Southeast Asian countries.

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