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Industrial Automation Oil And Gas Market Report 2023-2032: Market Size, Trends, Share And Analysis | Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc
Industrial Automation Oil And Gas Market
The Business Research Company's Industrial Automation Oil And Gas Global Market Report 2023 identifies increasing usage of the Internet of Things (IoT) as the major driver for the Industrial Automation Oil And Gas market's growth in the forecast period. The Internet of Things (IoT) is a networked system of interconnected computing devices, mechanical and electronic machinery with unique identities (UIDs), and the capacity to transfer data without needing human-to-human or human-to-computer contact.
The global industrial automation oil and gas market is expected to grow from $15.59 billion in 2022 to $16.82 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The industrial automation oil and gas market is expected to reach $22.18 billion in 2027 at a CAGR of 7.2%.
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Major competitors in the Industrial Automation Oil And Gas market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc.
A key trend in the Industrial Automation Oil And Gas market includes Product innovations. Major companies operating in the industrial automation oil and gas market are introducing best-in-class software tools in the oil and gas industry to sustain their position in the market. For instance, in June 2022, GE Digital LLC, a US-based company that provides data analysis and services related to software development, launched the Accelerator tools, which include best-in-class software tools to assist companies in asset-intensive energy industries in quickly configuring their asset performance management (APM) and other offerings. It is intended to accelerate time to value, scale APM to a wider variety of assets, and assist organizations in gaining financial value at their facilities and throughout the enterprise. It is applicable throughout the whole energy value chain, from oil and gas to power-generating assets ranging from renewable energy to more typical gas power and nuclear production facilities. Companies may rapidly build up enterprise-level asset reliability and performance programs using advanced pre-built product configurations, incorporating prioritized actionable information into everyday operations.
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The Industrial Automation Oil And Gas market is segmented -
1. By Component: Industrial Robots, Control Valves, Field Instruments, Human Machine Interference (HMI), Industrial PC, Process Analyzer, Intelligent Pigging, Vibration Monitoring.
2. By Stream: Upstream, Midstream, Downstream
3. By Solutions: Supervisory Control And Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control Systems (DCS), Manufacturing Execution System (MES), Functional Safety, Plant Asset Management (PAM)
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Automation Oil And Gas market.
The Business Research Company's "Global Industrial Automation Oil And Gas Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Automation Oil And Gas Market Include:
1. Executive Summary
2. Industrial Automation Oil And Gas Market Characteristics
3. Industrial Automation Oil And Gas Market Trends And Strategies
4. Industrial Automation Oil And Gas Market - Macro Economic Scenario
5. Global Industrial Automation Oil And Gas Market Size and Growth
……
32. Global Industrial Automation Oil And Gas Market Competitive Benchmarking
33. Global Industrial Automation Oil And Gas Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Automation Oil And Gas Market
35. Industrial Automation Oil And Gas Market Future Outlook and Potential Analysis
36. Appendix
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