(MENAFN- GlobeNewsWire - Nasdaq) The growth in the SCADA Oil & gas market is driven by several factors, including the rising demand for automation, increased focus on operational efficiency, and advancements in digital monitoring technologies. Innovations like remote monitoring, predictive analytics, and cloud-based SCADA have expanded their application in oil and gas, supporting more efficient and safer operations.Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The "SCADA Oil & Gas - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for SCADA Oil & Gas was estimated at US$5.7 Billion in 2023 and is projected to reach US$7.5 Billion by 2030, growing at a CAGR of 4.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
How Is SCADA Transforming Operations in the Oil & Gas Industry?
Supervisory Control and Data Acquisition (SCADA) systems play a crucial role in monitoring and controlling industrial processes within the oil and gas sector. SCADA systems allow operators to collect real-time data from field devices and equipment, providing insights that help manage extraction, processing, and distribution efficiently. By integrating with sensors and automation tools, SCADA systems support the management of remote operations, making it easier to monitor pipelines, drilling sites, and refining facilities. SCADA technology enables oil and gas companies to optimize production, enhance safety, and reduce costs, underscoring its importance in today's increasingly digital and automated industrial landscape.
What Are the Key Segments in the SCADA Oil & Gas Market?
Components of SCADA systems include hardware, software, and services, with software representing a significant share due to its critical role in data processing, analytics, and visualization. Hardware, such as sensors and remote terminal units, is also essential as it forms the backbone of data collection in SCADA systems. Services, including implementation, maintenance, and training, are critical to ensuring that SCADA systems are properly configured and optimized for long-term use. Applications of SCADA in oil and gas include upstream, midstream, and downstream operations, with upstream applications holding the largest market share due to the need for precise monitoring and control in exploration and extraction.
SCADA systems in upstream operations are used to monitor wellheads, manage drilling, and ensure safety in remote locations. In midstream, SCADA supports pipeline monitoring and leak detection, while in downstream, it assists in refining and distribution management. Regionally, the SCADA oil and gas market is strongest in North America and the Middle East, driven by extensive oil and gas infrastructure and a focus on advanced automation.
How Are SCADA Systems Applied in Oil & Gas Operations?
In upstream operations, SCADA systems help monitor drilling sites, control well pressure, and manage production rates, allowing for safer and more efficient extraction processes. In midstream, SCADA technology is used for pipeline monitoring, enabling operators to detect leaks, manage flow rates, and ensure compliance with safety standards. Downstream operations benefit from SCADA in refining, where it aids in process optimization and energy management. By providing real-time data, SCADA systems help oil and gas companies make informed decisions, reduce downtime, and maximize production efficiency across the supply chain.
What Factors Are Driving the Growth in the SCADA Oil & Gas Market?
The growth in the SCADA Oil & Gas market is driven by several factors, including the rising demand for automation, increased focus on operational efficiency, and advancements in digital monitoring technologies. Innovations like remote monitoring, predictive analytics, and cloud-based SCADA have expanded their application in oil and gas, supporting more efficient and safer operations. The focus on reducing costs, minimizing risks, and optimizing resource use has further fueled demand, as SCADA systems provide essential data insights and control capabilities. Additionally, growth in oil and gas exploration, infrastructure investments, and digital transformation initiatives have contributed to market expansion, supporting broader adoption of SCADA systems in oil and gas.
Scope of the Study
The report analyzes the SCADA Oil & Gas market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.
Segments
Architecture (Hardware, Software, Service); Stream (Upstream, Midstream, Downstream)
Key Insights:
Market Growth: Understand the significant growth trajectory of the Hardware Component segment, which is expected to reach US$3.7 Billion by 2030 with a CAGR of a 3.3%. The Software Component segment is also set to grow at 5.4% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, estimated at $1.5 Billion in 2023, and China, forecasted to grow at an impressive 4.0% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
Detailed Market Analysis: Access a thorough analysis of the Global SCADA Oil & Gas Market, covering all major geographic regions and market segments. Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies. Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global SCADA Oil & Gas Market. Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
How is the Global SCADA Oil & Gas Market expected to evolve by 2030? What are the main drivers and restraints affecting the market? Which market segments will grow the most over the forecast period? How will market shares for different regions and segments change by 2030? Who are the leading players in the market, and what are their prospects?
Report Features:
Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of major players in the Global SCADA Oil & Gas Market such as ABB Ltd., Bentek Systems, CygNet Software, Inc., Detechtion Technologies, eLynx Technologies, LLC and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 34 companies featured in this Global SCADA Oil & Gas Market report include:
ABB Bentek Systems CygNet Software Detechtion Technologies eLynx Technologies Emerson Electric General Electric Globalogix Honeywell International Iconics Inductive Automation International Business Machines Larsen & Toubro Mitsubishi Electric Orbcomm PetroCloud PSI Quorum Business Solutions Rockwell Automation Schneider Electric Siemens TechnipFMC TRC Advanced Technologies Yokogawa Electric ZTE
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $5.7 Billion |
| Forecasted Market Value (USD) by 2030 | $7.5 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
World Market Trajectories Global Economic Update SCADA Oil & Gas - Global Key Competitors Percentage Market Share in 2024 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
Rising Demand for Real-Time Data Monitoring Drives SCADA Adoption Increasing Focus on Process Automation in Oil & Gas Expands Market Integration of SCADA with IoT and Big Data Strengthens Business Case Growing Need for Predictive Maintenance in Oil & Gas Spurs Adoption Expansion of Cybersecurity Solutions for SCADA Systems Drives Market Advances in Remote Monitoring Capabilities Boost SCADA Market Potential Increasing Demand for Operational Efficiency in Oil & Gas Expands Market Emergence of Cloud-Based SCADA Solutions Expands Market Opportunity Increasing Regulatory Pressure on Safety Standards Drives SCADA Adoption Rising Focus on Energy Efficiency and Sustainability Strengthens Market Expansion of SCADA in Pipeline Monitoring and Control Boosts Market Potential Advances in Wireless SCADA Technologies Drive Adoption in Remote Areas Growing Demand for Resilient Infrastructure in Oil & Gas Strengthens Business Case
FOCUS ON SELECT PLAYERS
ABB Bentek Systems CygNet Software Detechtion Technologies eLynx Technologies Emerson Electric General Electric Globalogix Honeywell International Iconics Inductive Automation International Business Machines Larsen & Toubro Mitsubishi Electric Orbcomm PetroCloud PSI Quorum Business Solutions Rockwell Automation Schneider Electric Siemens TechnipFMC TRC Advanced Technologies Yokogawa Electric ZTE
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