Hardware is Expected to Dominate the Global Oil Gas Scada Market
The global network of oil and gas pipelines is
growing rapidly, as countries around the world look to expand their access to
energy resources. This is driving the demand for SCADA systems.
According
to TechSci Research report, “Global Oil Gas Scada Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Oil Gas Scada is anticipated to project robust
growth in the forecast period with a CAGR of 5.66% through 2028. The leading oil & gas
companies are adapting superior technology for enhanced production by omitting
bottlenecks in the processing line. Supervisory Control & Data Acquisition
(SCADA) is one of the most powerful tools for monitoring and controlling
real-time data. It is vital in acquiring real-time operational data from the
field to calibrate equipment, schedule maintenance activities, and coordinate
with third party vendors to keep the flow of product moving.The primary role of
the SCADA system in the upstream sector is remote data transmission in which it
collects the crucial real-time data from oil wells and sends them to the head
office where an organization can analyze it. The system is essential in
acquiring the condition of products and equipment during operations that will
help to prevent blowouts and verifies the safety of pumping.
Accurate
and real-time data is most important to monitor and control the processing line
to avoid downtime. Many companies turn to SCADA to oversee the operation,
improve efficiency, and minimize downtime that will assist management in
calculating production values, generate trends for decision making, and project
company profits.SCADA oil and gas market segmentation is based on system and
industry segment. The system segment is further divided into hardware,
software, and services. SCADA system is composed of several subsystems in which
remote terminal units (RTU) and programmable logic controllers (PLC’s) are most
important.The hardware segment is expected to dominate the system architecture,
as many sensors and equipment are deployed in the process line to acquire
real-time data. While the software-based solution assists in monitoring and
controlling the processing line by observing real-time data, cloud-based
services are also used to transmit and access the data.
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The
software-based solution helps to avoid the frequent visit of personnel to plant
as real-time data can be observed in the control room.Industry segment includes
upstream, midstream, and downstream. In upstream, the data transmission is
crucial in which various parameters are observed such as pressure and condition
of the wellbore, and expected first oil production. While in midstream, the
companies are investing in transporting oil and gas from well sites to
downstream plant.Oil pipeline spans thousands of miles, traversing harsh
terrain and underwater condition. The growth in shale gas and demand for
hydrocarbon increased in the recent period that created the need to expand the
networks of pipelines and terminals.SCADA system offers highly reliable and
real-time data that helps to monitor and control the processing line to
increase the overall efficiency of the plant. At the same time, the increasing
demand for oil and gas has raised the E&P activities that drive the SCADA
oil and gas market. The large scale adoption of technology to optimize the
processing cost, digitalization, and increasing penetration of cloud services
are expected to fuel the demand for SCADA oil and gas market.
Recent
Developments
In
March 2020, ABB launched the color-coded sensors which reduce the burden of
understanding and choosing the optimal pH measurement solution. It analyses the
pH level of water in a very effective manner.Emerson launches advanced
technologies two Rosemount 628 Universal Gas Sensors.
In
July 2019 for measuring carbon monoxide and oxygen depletion along with the
capability of monitor hydrogen sulfide. It may lead to a hazardous situation
which is avoided by this Rosemount 928 Wireless Gas Monitor platform.
Rockwell
Automation launches Avnet Data Security, a cybersecurity service provider in
January 2020. It serves a large number of customers globally and accelerates
the company’s portfolio development in various developing markets. Emerging big
data analytics is one of the opportunities for the growth of the market. Growth
in the R&D in the wireless sensor network may increase the demand for the
market. Control valves are expected to grow the demand for the market. These
are directed by PLC that manages the flow passage of fluids and also controls
pressure, temperature, and liquid levels. Remote monitoring and regulating the
flow of process are done by the control valves and hence increases the growth
of the automation oil & gas market value.
Key
market players in the Global Oil Gas
Scada Market are following:-
- Schneider
Electric
- Siemens
- General
Electric
- Rockwell
Automation
- ABB
- Emerson
Electric
- Yokogawa
Electric
- Honeywell
International
- Indra
Sistemas
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“The
increasing application of SCADA in the oil and gas sector to minimise
inefficiencies, bolster safety, and to monitor pipeline and gas well
production, is a key trend in the SCADA oil and gas market. Growing
reliance on IT-based automation across the upstream, downstream and midstream
sector, to counter data transmission challenges, and to facilitate real-time
gas measurement analysis, is further bolstering the market for SCADA oil and
gas. Rising demand for remote management of oil and gas networks by major
players is expected to surge the demand for SCADA oil and gas systems. These
systems also provide real-time communication, further increasing their demand.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management
consulting firm.
Oil Gas Scada
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented
By System (Hardware, Software, Services), By Industry Segment (Upstream,
Midstream, Downstream), By Region, Competition 2018-2028 has evaluated the future growth
potential of Global Oil Gas Scada Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Oil Gas Scada Market.
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