Industrial Automation Oil & Gas Market: Global Industry Outlook and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation and Region.

Industrial Automation Oil & Gas Market Overview & Dynamics:

With more sensors collecting data from rigs around the globe, the oil and gas industry has started to move toward digitization. By allowing engineers to work more efficiently with oil companies to better manage data and project needs, digital technology can increase internal communication and simplify plans. In the oil and gas industry, automation can increase efficiency while reducing prices. Industrial Automation Oil & Gas Market's segment analysis is included by component, solution, stream and region.

 

As part of Industry 4.0, the adoption of big data analytics and the internet of things is expanding as a result of increased industrialization and modernization in process plants. This has increased industrial automation, mainly in the oil and gas industry. The oil and gas business has benefited from industrial automation in a variety of ways, including condition monitoring, data tracking using real-time monitoring, and predictive analytics. The existence of various pipelines and ducts in oil and gas refineries has required the adoption of automation in the industry.

 

 

To get more Insights: Request Free Sample Report

 

Industrial Automation Oil & Gas Market:

The Industrial Automation Oil & Gas Market's future depends on maximising the use of automated technology at all levels of the value chain. At an enterprise level, highly varied offshore and onshore assets may be monitored and managed, as well as field data dissemination (from well heads to the control room). Automation is expected to help operations and management professionals make better, faster, and more informed decisions. The oil and gas industry's workforce is continually changing. Information may now be accessed quickly and simply on small devices such as tablets, smartphones, PCs, and other mobile solutions. Real-time operations management is possible. This operational intelligence optimizes information flow and ensures that it reaches the appropriate person at the appropriate time. As a result, the time it takes to convey information is significantly reduced.

 

ABB's Ability, Honeywell's Sentience, and Siemens' have all developed their own IoT solutions to assist customers in their path to digitise oil fields. Each of these IoT platforms is described in detail below, as each offers a unique IoT service.

 

• Sentience from Honeywell is now available with a new cloud service called Uniformance Cloud Historian. It is feasible to establish a data lake using cloud services by combining data from production, enterprise resource planning (ERP), and other business divisions to execute analytical activities.

 

• MindSphere, a cloud-based IoT platform by Siemens, was unveiled in 2018. It's an open operating system that can link to MindSphere using radio frequency identification (RFID) transponders. It operates by installing sensors in the customer's gear that capture hundreds of data points.

 

• ABB is transforming from an industrial-focused company to a software-services-based company that will assist its clients in gaining access to the digital world. Customers have reported that by using Ability's digital capabilities, they have been able to boost operational performance and productivity. ABB is confident that by expanding its cloud services, it will be able to assist clients who are just getting started with digital transformation in assessing, improving, collaborating on facilities, and automating their projects.

 

Field Instruments Segment is expected to grow at the Largest CAGR Of 5.52% during the 2022-2026.

 

By Component, Field Instruments segment was valued US$ xx Bn. in 2021 and is expected to reach at US$ xx Bn. by 2027 at a CAGR of 6.52% over forecast period. Field instruments are made up of four different types of transmitters: pressure, temperature, level, and vibration level switch, which are used in a variety of instrumentation operations. In the oil and gas industry, pressure transmitters are widely used to monitor flow, level, pressure, density, and viscosity, with flow measurement being the most prevalent application. The capacity of field instruments to adapt to IoT and field parameter analysis drives the market for Industrial Automation Oil & Gas Market.

 

SCADA segment is expected to witness significant growth throughout the forecast period.

 

Based on Solution, SCADA segment held the largest Industrial Automation Oil & Gas Market share of xx% in 2021 and is expected to grow at the highest CAGR of 7.15% to reach US$ xx Bn. by 2027. In the U. S., SCADA is widely used in the upstream, midstream, and downstream oil and gas industries. Its position in the upstream sector is sometimes classified as primarily supporting remote data transfer. This is projected to change, however, due to the widespread and diversified use of SCADA in various industrial areas. Furthermore, owners and operators in the United States appreciate how IT-based automation can effectively manage the upstream oil and gas sector's particular issues.

 

 

APAC is expected to Hold Significant Share 0f 33.56% by 2027:

 

APAC market was valued US$ xx Bn. in 2020 and is expected to reach a value of US$ xx Bn. by 2027, with a CAGR of 6.55% during the forecast period. The growing manufacturing industry, with its constantly changing trends and ongoing improvements in automation technology, is driving this APAC Industrial Automation Oil & Gas Market's growth. Companies are looking for better industrial automation oil & gas solutions, as well as solutions for predictive warnings and system analysis to minimise total operational and maintenance expenses. During the projection period, China, India, and Malaysia are likely to quickly boost their deployment of industrial automation oil & gas components and solutions.

 

Product Launches and Expansions:

The SMR reports cover key developments in the Industrial Automation Oil & Gas Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events.

 

• ABB introduced a new range of color-coded sensors in March 2020, making it simple to select and manage the best pH measuring solution. The sensors will make it easier to determine the pH level of water.

 

The objective of the report is to present a comprehensive analysis of the Industrial Automation Oil & Gas Market to the stakeholders in the industry. The report provides trends that are most dominant in the Industrial Automation Oil & Gas Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Industrial Automation Oil & Gas Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Industrial Automation Oil & Gas Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Industrial Automation Oil & Gas Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Industrial Automation Oil & Gas Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Industrial Automation Oil & Gas Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Industrial Automation Oil & Gas Market is aided by legal factors.

 

Industrial Automation Oil & Gas Marke Scope:

Industrial Automation Oil & Gas Market
Market Size in 2023	USD 18.28 Bn.
Market Size in 2030	USD 26.34 Bn.
CAGR (2024-2030)	5.35%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Component Industrial Robots Control Valves Field Instruments HMI Industrial PC Process Analyzer Intelligent Pigging Vibration Monitoring
	By Solution SCADA PLC DCS MES Functional Safety PAM
	By Stream Upstream Midstream Downstream
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Major Players operating in the Global Industrial Automation Oil & Gas Market are:

• ABB
• SIEMENS
• EMERSON
• SCHNEIDER ELECTRIC
• HONEYWELL
• MITSUBISHI ELECTRIC CORPORATION
• GENERAL ELECTRIC
• ROCKWELL AUTOMATION
• YOKOGAWA ELECTRIC CORPORATION
• ENDRESS+HAUSER
• FANUC CORPORATION
• OMRON CORPORATION
• AZBIL
• KUKA
• VEGA GRIESHABER
• HITACHI
• UNIVERSAL ROBOTS
• AMETEK
• WIKA