Increasing oil and gas demand and production worldwide is expected to be the major driver fueling the growth of the global SCADA oil & gas market during the forecast period. Rising global GDP and fast-climbing population numbers have led to a significant spike in the demand for oil and gas around the world. According to the International Energy Agency (IEA), worldwide oil demand grew by 1.3% in 2018, with the US leading production and China leading consumption. On the other hand, demand for gas globally soared at 4.6%, with China accounting for 18% of this rise. This increase demand and consumption is unlikely to fall in the near future, even when the world is striving to switch to renewables. For example, according to the OPEC’s World Oil Outlook Report 2019, oil and gas will meet most of the global energy demand which is expected to grow by 25% between 2018 and 2040. These developments will lay a strong foundation for the SCADA oil & gas market growth in the forecast period.
Browse Complete Report https://www.fortunebusinessinsights.com/industry-reports/scada-oil-gas-market-101331
Fortune Business Insights covers some of the major players in this market:
- Bentek Systems
- Baker Hughes
- Mitsubishi Electric Automation, Inc.
- Rockwell Automation
- Petro Cloud
- Technical Toolboxes
- Schneider Electric
- Omron Automation-Americas
Key Market Driver – Demand for remote management coupled with increasing E&P activities
Key Market Restraint – Highly expensive technology
Fortune Business Insights, in its report, titled “SCADA Oil & Gas Market Size, Share and Global Trend By System (Hardware, Software, Services), By Industry Segment (Upstream, Midstream, Downstream) and Geography Forecast till 2026”, shares a comprehensive overview of the general industry outlook and an exhaustive analysis of the various drivers, factors, dynamics, and upcoming trends that will influence the market development during the forecast period. The report aims to provide sufficient informational arsenal for companies to take informed decisions and design strategies best suited to the needs of the market.
Supervisory Control and Data Acquisition (SCADA) is a software solution that enables industrial organizations to remotely monitor industrial processes and collect and analyse real-time data. These systems help improve efficiency and reduce downtime through effective communication.
Increasing Shale Gas Production to Fuel the Market
Discovery of shale gas reserves, especially in the US and Canada, is seen as a revolution in the oil and gas industry. According to PricewaterhouseCoopers (PwC), shale oil production can potentially serve 12% of the global oil demand in the next decade. This would be economically beneficial as the extra oil supply could push down world oil prices by about 30% by 2035. Net importers such as India would experience a GDP rise of about 5.5% in the same period, PwC reports. The US alone produced 30.6 trillion cubic feet of shale in 2018, making the country the highest oil and gas producer and consumer in the world, as per the US Energy Information Agency estimates. These projections are expected to augment the SCADA oil & gas market demand during the forecast period.
Asia-Pacific to Present Promising Growth Prospects; Africa and the Middle East to Rise Steadily
Asia-Pacific is anticipated to hold a substantial portion of the SCADA oil & gas market share owing to the increasing refining activities in India and China along with rising national incomes in the countries that will propel the demand for the software. In North America, besides shale gas production, growing adoption of advanced software solutions for real-time data collection will positively impact the market. Lastly, rising investment in new and sophisticated technologies will augur well for the market in the Middle East and Africa region in the forecast period.
Tactical Partnerships and Collaborations to Spur Competition
The SCADA oil & gas market trends point towards key players increasingly collaborating with each other to expand their presence in the market. In addition to this, some big companies are also acquiring other competitors to diversify their product offerings and strengthen their presence.
Key industry developments include:
- May 2018: Bedrock Automation and Wunderlich-Malec teamed up to deliver the latest automation solutions to counter cyber-threats through the Bedrock OSA platform. This platform protects software, including SCADA, from various types of malware that can severely affect any system.
- July 2019: Emerson acquired Zedi’s software and automation business to broaden its offering of cloud-based SCADA services for controlling and monitoring oil and gas data. The level of accuracy offered by Emerson is much higher than its competitors, the company claims.
Key Segmental Overview:
1. By System
2. By Industry Segment
3. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Major Table of Content For SCADA Oil & Gas Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global SCADA Oil & Gas Market Analysis, Insights and Forecast, 2014-2025
- North America SCADA Oil & Gas Market Analysis, Insights and Forecast, 2014-2025
- Europe SCADA Oil & Gas Market Analysis, Insights and Forecast, 2014-2025
- Asia Pacific SCADA Oil & Gas Market Analysis, Insights and Forecast, 2014-2025
- Middle East and Africa SCADA Oil & Gas Market Analysis, Insights and Forecast, 2014-2025
- Latin America SCADA Oil & Gas Market Analysis, Insights and Forecast, 2014-2025
- Competitive Landscape
- Company Profile
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