Major players in the scada oil and gas market are ABB Ltd., General Electric Company (GE), Schneider Electric SE, Rockwell Automation Inc., Siemens AG, Emerson Electric Co, ICONICS Inc., Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Honeywell International Inc., PSI Software AG, Orbcomm Inc., Bentek Systems, L&T Technology Services Limited, Omron Corporation.
The global SCADA oil and gas market is expected to grow from $3.87 billion in 2022 to $4.17 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The SCADA oil and gas market is expected to reach $5.44 billion in 2027 at a CAGR of 6.9%.
The SCADA oil and gas market includes revenues earned by entities by providing services such as supervisory control and data acquisition, which is a grouping of technology including uses computers, communication networks, and a computing platform for real-time process management.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
SCADA stands for Supervisory Control and Data Acquisition, which refers to a software system that provides operators with the ability to monitor and communicate oil and gas well production.If there are any issues, automatic notifications and alerts are sent.
By improving performance, the gas and oil industry can remain competitive by maximizing its resources and processes.
North America was the largest region in the SCADA oil and gas market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of SCADA oil and gas are supervisory control systems and data acquisition systems.A data acquisition system refers to a system that consists of sensors, measuring devices, and a computer.
The system provides hardware, software, and services for industrial upstream, midstream, and downstream.
The increasing demand for the oil and gas market is expected to propel the SCADA oil and gas market going forward.Oil and Gas refer to major industries in the energy market that plays an influential role in the world’s primary fuel sources.
SCADA (Supervisory control and data acquisition) is a control system complex that manages real-time processes for application in oil and gas gathering, transmission, and distribution. For instance, in March 2021, according to the International Energy Agency (IEA) Oil 2021 report, a France-based intergovernmental organization, global oil consumption is projected to reach 104.1 mb/d by 2026, which would represent an increase of 4.4 mb/d from 2019 levels. Thus, increasing demand for the oil and gas market is driving the SCADA oil and gas market.
Product innovation has emerged as a key trend gaining popularity in the SCADA oil and gas market.Major companies operating in the SCADA oil and gas market are developing innovative products to strengthen their position in the market.
For instance, in February 2022, GE Digital, a US-based software company launched an updated version of its innovative CIMPLICITY 2022 HMI/SCADA software.It is a proven, secure-by-design automation platform, that provides true client/server visualization and control from single machines to global plant locations thereby assisting industrial companies in managing operations, enabling the connected worker, and achieving fast time to value with no/low code innovation.
This new edition also offers the option to install on-premises, in the cloud, or in a hybrid architecture to save money on infrastructure and maintenance. CIMPLICITY’s operator interfaces innovation and dependable, real-time monitoring help for power utility operators working with GE Gas Power’s gas turbine fleet.
In January 2020, Rockwell Automation Inc., US-based industrial automation, and digital transformation company acquired Avnet Data Security for an undisclosed amount. This acquisition signals that Rockwell Automation is planning on expanding into the field of information solutions and connected services. Avnet Data Security is an Israel-based ICS and SCADA-heavy security firm. It is a provider of cybersecurity solutions such as IT security, compliance, incident response, cyber attack, and so on.
The countries covered in the SCADA oil and gas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The SCADA oil and gas market research report is one of a series of new reports that provides SCADA oil and gas market statistics, including SCADA oil and gas industry global market size, regional shares, competitors with a SCADA oil and gas market share, detailed SCADA oil and gas market segments, market trends, and opportunities, and any further data you may need to thrive in the SCADA oil and gas industry. This SCADA oil and gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.