Oil and Gas SCADA Market Report Overview
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The global oil and gas SCADA market size was USD 2444.2 million in 2021 & the market is expected to reach USD 3495 million in 2031, exhibiting a CAGR of 3.3% during the forecast period.
Oil and gas SCADA (Supervisory Control and Data Acquisition) services are a type of control system used in the oil and gas industry to monitor and control various processes and equipment involved in the extraction, refining, and distribution of oil and gas. These systems utilize various sensors and control devices to collect data and information about processes and equipment, and then use this data to monitor and control these processes remotely.
SCADA systems are used to monitor and control various aspects of the oil and gas industry, including wellhead operations, pipeline operations, and refinery operations. These systems allow operators to monitor equipment and processes in real-time, identify issues before they become major problems, and take corrective actions remotely, reducing downtime and improving efficiency.
In addition to monitoring and control, oil and gas SCADA services also provide data storage and analysis capabilities, enabling operators to track and analyze production data, identify trends and patterns, and make data-driven decisions to optimize operations.
Overall, oil and gas SCADA services are an essential tool for ensuring the safe and efficient operation of the oil and gas industry, and play a critical role in maintaining the global energy supply chain.
COVID-19 Impact: Pandemic decreased the Market Demand
The pandemic led to a reduction in global demand for oil and gas, resulting in lower prices and reduced exploration and production activities. This, in turn, affected the demand for SCADA services in the oil and gas sector. The pandemic disrupted global supply chains, leading to delays in the delivery of SCADA equipment and services, which impacted the implementation of new projects. To comply with social distancing guidelines, many oil and gas companies had to shift to remote working and operations, which led to a greater reliance on digital technologies, including SCADA systems.
Latest Trends
"Integration with IoT and cloud technologies to Fuel Market Growth"
The integration of SCADA systems with Internet of Things (IoT) and cloud technologies is a major trend in the oil and gas industry. This integration enables remote monitoring and control of equipment and processes, real-time data analysis, and predictive maintenance, improving operational efficiency and reducing downtime. The use of wireless communication protocols, such as Wi-Fi and cellular networks, is increasing in the oil and gas industry. This enables remote access to SCADA systems and real-time data monitoring and analysis, improving decision-making and reducing response times.
Oil and Gas SCADA Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Hardware, Software, Service. The hardware segment dominates the market share globally.
- By Application Analysis
Based on application, the market can be divided into Onshore Oil & Gas, Offshore Oil & Gas. The onshore segment dominates the market share globally.
Driving Factors
"Rising Demand for Pipeline Networks to Stimulate Market Growth"
The market is likely to develop as a result of rising pipeline network costs and deteriorating reservoirs. The demand for remote administration of oil and gas pipelines, expanding pipeline networks, and increasing SCADA cloud computing utilization are the key market growth drivers. The adoption of IoT technology in SCADA raises the worldwide GDP to about USD 816 billion, which expands the use of SCADA in the oil and gas sector.
"Factors Related to Cost Optimization Will Boost the Market Growth"
The price of integration, the processing of real-time data, the dependability of the system, and asset optimization are a few more reasons that contribute to the oil and gas SCADA market growth. In addition, a growing propensity for process optimization is anticipated to promote expansion of the market forecast through automation and digitalization. Plant asset management is anticipated to increase between 2022 and 2030. The increased use of PAM solutions to collect comprehensive data about the many types of equipment deployed in plants, such as their uptime performance and life cycle cost assessments, has made this growth possible.
Restraining Factors
"Varied Compatibility of System to Restrict Market Growth"
The development of the Oil & Gas SCADA Market may be hampered by the compatibility of various system components provided by various solution providers. Moreover, the SCADA system was exceedingly expensive, which restrained market expansion. In addition, worries over data security may impede the development of market trends. The market may slow down as a result of the fluctuating and falling price of oil and gas. Many dangerous switches, sensors, and other components are present in the automation system for oil and gas plants, and the data are gathered by means of the components. Huge amounts of data can get muddled if they are not properly organized. Systems that are quite sophisticated are required for data sharing and collaboration. It demands trained operators and pricey systems.
Oil and Gas SCADA Market Regional Insights
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"Growing Demand in North America Anticipated to Boost Market Expansion"
North America is a significant market for oil and gas SCADA services, driven by the large shale gas and tight oil reserves in the United States and Canada. The market is highly mature, with a focus on technology upgrades and integration with IoT and cloud technologies. The market is focused on the adoption of advanced technology and increasing automation to improve efficiency and reduce costs. This anticipated the region to contribute in great oil and gas SCADA market share.
Key Industry Players
"Adoption Innovative Strategies by Key Players Influencing Market Development"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- ABB Ltd. (Switzerland)
- Schneider Electric SE (France)
- Rockwell Automation (U.S.)
- Yokogawa Electric Corporation (Japan)
- General Electric Company (U.S.)
- Honeywell International Inc. (U.S.)
- CygNet Software (U.S.)
- Siemens AG (Germany)
- Quorum Business Solutions (U.S.)
- Larsen & Toubro Limited (India)
- ZTE Corporation (China)
- PSI AG (Germany)
- Mitsubishi Electric Corporation (Japan)
- Orbcomm Inc. (U.S.)
- Iconics (U.S.)
- Detechtion Technologies (U.S.)
- eLynx Technologies, LLC (U.S.)
- Globalogix (U.S.)
- TRC Advanced Technologies Inc. (U.S.)
- Inductive Automation (U.S.)
- International Business Machines Corporation (U.S.)
- TechnipFMC plc (U.K.)
- Emerson Electric Co. (U.S.)
- Bentek Systems (Canada)
- PetroCloud, LLC (U.S.)
Report Coverage
This report examines an understanding of the Oil and gas SCADA market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 2444.2 Million in 2021 |
Market Size Value By |
US$ 3495 Million by 2031 |
Growth Rate |
CAGR of 3.3% from 2021 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global oil and gas SCADA market expected to touch by 2031?
The global oil and gas SCADA market is expected to touch USD 3495 million in 2031.
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What CAGR is the oil and gas SCADA market expected to exhibit during 2022-2031?
The oil and gas SCADA market is expected to exhibit a CAGR of 3.3% over 2022-2031.
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Which are the driving factors of the oil and gas SCADA market?
Rising demand for pipeline networks is the driving factor of the oil and gas SCADA market.
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Which are the top companies operating in the oil and gas SCADA market?
ABB Ltd., Schneider Electric SE, Rockwell Automation, Yokogawa Electric Corporation are the top companies operating in the oil and gas SCADA market.