Industrial Automation Market for Oil & Gas Growth, Structure, Share, Analysis and Forecasts 2023

1. Industrial Automation Market for Oil & Gas Growth, Structure, Share, Analysis and Forecasts 2023 “The Industrial Automation Market for Oil & Gas is expected to reach USD 15.52 Billion by 2023, at a CAGR of 3.2% between 2017 and 2023.” The Industrial Automation Market for Oil & Gas is expected to reach USD 15.52 Billion by 2023, at a CAGR of 3.2% between 2017 and 2023. The growth of this market is propelled by the Internet of Things, adding value to the industrial automation for oil & gas and the need for optimum and effective exploration of aging reservoirs. Distributed control systems (DCSs) are expected to hold the largest share of the overall industrial automation market for oil & gas in 2017. DCS is connected to sensors, actuators, controllers, and control valves to control set point and complete the processing at oil & gas plants efficiently. The set point helps control the flow of material through the plant. Deep sea exploration and extraction along with shale gas further drive the demand for the implementation of DCS. The market for manufacturing execution systems (MESs) is expected to grow at the highest rate between 2017 and 2023. MES is an online tool used for prioritizing and scheduling the processes of manufacturing according to the requirements. It prioritizes and manages the processes in oil & gas plants to carry out the process in an optimum manner. Field instruments held the largest share of the industrial automation market for oil & gas. The industrial automation is carried out with the help of field instruments for measuring, transmitting, and controlling the processes. The instruments can be controlled and automated from a control room, making them a vital part of the industrial automation. The market for leakage detection system is expected to grow at the highest rate during the forecast period. The industrial automation system is applied across various processes in the oil & gas industry, which include a huge number of pipelines and transportation of oil & gas over long distances. The leakage detection system helps the operator to detect, analyze, and take the correct steps of action required to curb the leakage of these precious and hazardous petroleum liquids and gases. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=1289

2. “The industrial automation market for oil & gas for manufacturing execution system expected to grow at the highest rate between 2017 and 2023” The manufacturing execution system (MES) in industrial automation is a core solution for gathering real- time data, analyzing the data, and storing them for current and future decision-making process. MES helps maintain the updated data pertaining to product life cycle, product quality, order execution and dispatch, resource scheduling, downtime management for overall equipment effectiveness (OEE), and production analysis. These factors are expected to continue to gain a large share in the industrial automation market for oil & gas. “Market for leakage detection system is expected to grow at the highest rate during the forecast period” The industrial automation market for oil & gas for leakage detection system is expected to grow at the highest rate during the forecast period. As pipelines transport a huge amount of oil and condensate over long distances, they require the most accurate technique for leakage monitoring and detection. E-RTTM is one of the widely used technologies incorporated in the modern leak detection systems, which have applications in the oil and natural gas industry. Therefore, the market for this technology is expected to grow at the highest rate during the forecast period. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=1289 “The Middle East and Africa expected to hold the largest share of the industrial automation market for oil & gas during the forecast period” The growing competition in the global market is forcing companies in the process industries in the Middle Eastern countries to adopt innovative cost reduction techniques and solutions along with increasing productivity. This is expected to boost the demand for industrial automation market for oil & gas in the Middle East and Africa. The various exhibitions held in this region further boost the market. For example, in 2015, from January to April, ISA Saudi Arabia planned to deliver a total of 11 educational and networking sessions in the field of automation to promote the field of automation and train professionals, solving their technical problems and enhancing leadership skills. The major players involved in the industrial automation market for oil & gas are ABB (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International Inc. (US), Rockwell Automation Inc. (US) Schneider Electric SE (France), Endress+Hauser AG (Switzerland), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).

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