SCADA is an automation framework that obtains information from remote devices, such as pumps, transmitters, and valves, installed in the oilfield. SCADA software platform provides remote control and management, and helps to operate the devices accordingly. SCADA system for oil & gas provides various solutions such as electronic gas flow measurement, dynagraph monitoring, maintenance and asset management, pipeline monitoring and control, and integration with ERP (Enterprise Resource Planning) systems.
Various benefits offered by SCADA systems such as reduction in time and human efforts, and its ability to monitor and control equipment remotely is a major factor driving growth of the global SCADA system for oil & gas market. Additionally, increasing investments in digitization of oil & gas pipeline systems is another factor expected to propel growth of the global market over the forecast period. But, high installation costs and data security threats are major factors expected to restrict growth of the global market over the forecast period.
The global SCADA system for oil & gas market is segmented on the basis of architecture, stream, and region. On the basis of architecture, the target market is segmented into hardware, software, and service. Among the architecture segments, the hardware segment accounted for major revenue share in the target market over the forecast period, owing to increasing investment in automation of oil and gas infrastructure.
On the basis of stream, the target market is segmented into upstream, midstream, and downstream. On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Do Inquiry of the Report Here: https://marketresearch.biz/report/scada-system-for-oil-gas-market/#inquiry
North America market accounted for highest share in terms of revenue in the global market, as compared to that of markets in other regions. This can be attributed to presence of prominent market players in countries in the region. The market in Asia Pacific is expected to witness considerable growth and is expected to register a CAGR of X.X% over the forecast period, owing to increasing adoption of SCADA system in oil & gas industry, for better monitoring and control and for accurate and timely decisions. Furthermore, markets in Latin America and Middle East & Africa are expected to register moderate growth in the global market over the forecast period.
Key players in the global SCADA system for oil & gas market include ABB Ltd., Schneider Electric S.E., Rockwell Automation, Inc., Mitsubishi Electric Corporation, Siemens AG, Yokogawa Electric Corporation, PSI Software AG, Larsen & Toubro Limited, Emerson Electric Co., and TechnipFMC plc.