Oil and Gas Automation Market will witness a CAGR of 8.02% through 2023 |Top Key Players- ABB, HONEYWELL INTERNATIONAL, ROCKWELL AUTOMATION, MITSUBISHI CORPORATION, SCHNEIDER ELECTRIC SE, EMERSON ELECTRIC

The oil and gas automation market was valued at USD 11.23 billion in 2017 and is expected to reach a value of USD 18.03 billion by 2023 at a CAGR of 8.02% over the forecast period (2018 - 2023). The scope of the study covers several types of control systems and associated instrumentation used for industrial oil & gas control, such systems can range from large interconnected and interactive distributed control systems with many thousands of field connections to a few modular panel-mounted controllers.

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The increasingly diverse energy market and a shortage of skilled labor the automation of daily operations will be a key factor for sustainable growth in the oil & gas industry. With a growing worldwide population, the demand for new energy sources will increase as well as increase the costs for energy companies. By automating portions of daily operations, both on the job site and in the office, oil & gas companies can not only create efficiencies within their business but will also mitigate the effects caused by a lack of skilled labor currently available in the market.

Key Developments
• November 2017 - Rockwell Automation announced its investment in The Hive, a Silicon Valley innovation fund and co-creation studio, to gain access to an ecosystem of innovators and technology start-ups with a focus on applications of artificial intelligence (AI) to industrial automation.
• November 2017 - Schneider Electric launched a new service designed to help industrial manufacturers modernize their PLC systems safely. By reducing downtime and disruption to the operation, the service may provide an easier migration to the company’s Modicon M580 programmable automation controllers.
• October 2017 - Mitsubishi electric announced that it will launch its newest MELSEC iQ-R Series general-purpose programmable controller, the IEC 61508 SIL 2-compliant redundant programmable controller paired with a redundant-function SIL2 CPU set for high performance and extra reliability
• September 2017 - Dassault Systems acquired EXA Corporation, a global innovator in simulation software for product engineering. This acquisition strengthens the company's Simulation Portfolio with next-generation fluid dynamics capabilities on the 3DEXPERIENCE Platform.
• June 2017 - GE launched New Solutions Purpose Built for Industrial Assets. GE Digital launched an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax which is company's cloud-based field service management solution, with its intelligent Asset Performance Management portfolio to develop service operations, reduce cost and eliminate unplanned downtime.

The major players include –
ABB LTD, HONEYWELL INTERNATIONAL INC., ROCKWELL AUTOMATION INC., MITSUBISHI CORPORATION, SCHNEIDER ELECTRIC SE, EMERSON ELECTRIC CO., EATON CORPORATION, DASSAULT SYSTEMS, YOKOGAWA ELECTRIC CORPORATION, SIEMENS CORPORATION, ROBERT BOSCH GMBH, TEXAS INSTRUMENTS INC., AND JOHNSON CONTROLS INC., amongst other.

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Need For Higher Productivity and Efficiency
The current oil price environment is forcing major change along with difficult decisions within the oil & gas industry. New operating models and approaches that improve CAPEX and OPEX are required to respond to short-term and mid-term market supply and demand dynamics. The longer-term market dynamics need sustainable solutions that bolster safety as well as keep environmental performance an evergreen priority. From drill pad to refinery, Automation helps operators achieve this unique balance through a spectrum of upstream, midstream, and downstream technological innovations and solutions. The oil & gas industry is faced with several challenges including price volatility, uncertain energy policy, cost containment, worsening fiscal terms, and day-to-day operational challenges. Successful operation requires the ability to respond quickly and efficiently to these dynamic conditions. Upstream companies are challenged by severe resource constraints while struggling to increase production and replace proven reserves. Meanwhile, downstream companies are facing working capital and profit margin pressures. The processes and systems involved in the industry are exploration, production, refining, and marketing, therefore, the oil & gas industry is highly complex, capital-intensive, and requires state-of-the-art technology. Needless to say that the oil & gas companies are pressurized to adapt to dynamic technological advancements, increase productivity, and yet keep costs under control. This brings forward the urgent need for a higher-than-ever degree of collaboration and data-driven decision-making to optimize costs and maximize effectiveness and efficiency.

Distributed Control Systems to Hold a Significant Market Share
Distributed control systems (DCSs) are dedicated systems used to control manufacturing processes in the oil & gas industry. The control architecture comprises of a supervisory level of control, overseeing multiple integrated sub-systems, which are responsible for controlling the details of a localized process. These are connected to sensors and actuators, and they use setpoint control in order to control the flow of material through the plant. To achieve greater precision and control in process industries, such as the oil & gas industry, there is rising demand for controllers which offer specified process tolerance around an identified setpoint. These requirements have driven the adoption of DCS, as these systems offer lower operational complexity and project risk, as well as functionalities, like flexibility for agile manufacturing in highly-demanding applications. However, to deploy these DCS networks there is a difficulty in interoperability of various equipment in factories (from different manufacturers), as well as, checking the imposed requirements of the physical network.

UAE to hold the Largest Market Share in the Middle East
The UAE has the world's seventh largest reserves of both oil and natural gas, estimated at 97.8 million barrels and 215 trillion cubic feet, respectively. Most of the UAE' reserves are in Abu Dhabi (95% of the nation’s oil reserves and about 94% of its gas reserves), both offshore and onshore. A heavy program of investment in Abu Dhabi, amounting to more than USD 70 billion, continues as the Emirate's Supreme Petroleum Council (SPC) and the Abu Dhabi National Oil Company (ADNOC) are estimated to have achieved a target of 3.5 million bpd by 2017.Besides oil exploration, gas production is another prominent industry arm. Abu Dhabi's gas production has increased significantly in recent years due to major projects to integrate offshore and onshore production of associated gas from large oil fields and reduce gas flaring. By 2020, crude oil production is expected to amount 3.5 million bpd, especially as Abu Dhabi plans to invest USD 40-60 billion to reach this target. The country’s future does not include major oil discoveries. Increase in production will be due mainly to enhanced oil recovery (EOR) techniques for the country’s mature oil fields.

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