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Rising Oil And Gas Demand Fueling Growth In Scada Oil And Gas Market: An Emerging Driver Transforming The SCADA Oil And Gas Market Landscape
SCADA Oil And Gas
What Is the SCADA Oil And Gas Market Size and Projected Growth Rate?
The market size for scada oil and gas has seen robust growth in the recent past. It is projected to rise from $4.42 billion in 2024 to reach $4.72 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. The surge during the historical period can be attributed to the increasing complexities of oil and gas operations, obligations for pipeline monitoring, necessities for asset management, safety and compliance measures, as well as enhancements in efficiency and productivity.
The market size for SCADA in the oil and gas sector is anticipated to experience robust expansion in the coming years, ballooning up to $6.43 billion by 2029 with a CAGR of 8.1%. The predicted growth in the forecast period may be linked to several factors such as initiatives for digital transformation, the incorporation of renewable energy, the use of predictive analytics, a focus on ecological sustainability and the need for remote operations. The forecast period should also witness several trends including the combination with industrial IIoT, improvements in cybersecurity, the evolution of cloud-based SCADA systems, remote observation and control, high-level data analytics and AI, as well as edge computing for real-time processing.
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What Are the Different SCADA Oil And Gas Market Segments?
The SCADA oil and gas market covered in this report is segmented -
1) By Type: Supervisory Control System, Data Acquisition System
2) By System: Hardware, Software, Services
3) By Industry: Upstream, Midstream, Downstream
Subsegments:
1) By Supervisory Control System: Centralized Supervisory Control Systems, Decentralized Supervisory Control Systems
2) By Data Acquisition System: Remote Terminal Units (RTUs), Programmable Logic Controllers (PLCs), Data Communication Systems
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What Are the Primary Drivers Shaping the SCADA Oil And Gas Market?
The SCADA oil and gas market is forecasted to be driven forward by the growing demand in the oil and gas market. The oil and gas industries are significant players in the energy sector, providing the primary sources of fuel globally. The SCADA system, which stands for Supervisory Control and Data Acquisition, is a sophisticated control system managing real-time processes in oil and gas collection, transmission, and distribution. For example, in April 2024, the U.S. Energy Information Administration, a government agency, reported that the most significant growth in natural gas consumption came from the electric power sector. In 2023, there was a 7% increase (2.2 Bcf/d) from 33.2 Bcf/d in 2022, reaching a record-setting 35.4 Bcf/d. As a result, the escalating demand in the oil and gas market is fuelling the SCADA oil and gas market's expansion.
Which Companies Are Leading in the SCADA Oil And Gas Market?
Major companies operating in the SCADA oil and gas market include ABB Ltd., General Electric Company, Schneider Electric SE, Rockwell Automation Inc., Siemens AG, Emerson Electric Co., ICONICS Inc., Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Honeywell International Inc., PSI Software AG, Orbcomm Inc., Bentek Systems, Larsen & Toubro Technology Services Limited, Omron Corporation, Inductive Automation, Weatherford International plc, Technical Toolboxes Inc., Avanceon Limited, TRC Advanced Technologies Inc., International Business Machines Corporation, Honeywell Process Solutions, Parametric Technology Corporation, AVEVA Group plc, CGG SA, Aucotec AG, eLynx Technologies LLC, Petrolink Services Inc., Apergy Corporation, Petrotechnics Ltd, Kepware Technologies, EnergySys Limited, Genscape Inc., P2 Energy Solutions LLC, Quorum Business Solutions Inc., Zedi Inc., WellAware Holdings Inc.
What Are the Major Trends Shaping the SCADA Oil And Gas Market?
The emergence of product innovation as a key driver for the SCADA oil and gas industry is a major trend. Market-leading companies are focusing on introducing innovative products to secure their position in the SCADA oil and gas market. Case in point, GE Digital, a renowned US software company, introduced an advanced iteration of their groundbreaking CIMPLICITY 2022 HMI/SCADA software in February 2022. This secure-by-design automation platform is capable of providing authentic client/server visualization and control, ranging from individual machines to worldwide plant locations, aiding industrial entities in operation management, worker connectivity, and quick value realization through no/low code innovation. The latest version also comes with the flexibility to be installed onsite, in the cloud, or using a hybrid arrangement, resulting in significant savings on infrastructure and maintenance costs. The innovative operator interfaces and reliable real-time monitoring by CIMPLICITY are valuable aids to power utility operators who are managing GE Gas Power's gas turbine fleet.
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What Are the Top Revenue-Generating Geographies in the SCADA Oil And Gas Market?
North America was the largest region in the SCADA oil and gas market in 2024. The regions covered in the SCADA oil and gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the SCADA Oil And Gas Market?
2. What is the CAGR expected in the SCADA Oil And Gas Market?
3. What Are the Key Innovations Transforming the SCADA Oil And Gas Industry?
4. Which Region Is Leading the SCADA Oil And Gas Market?
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Table of Contents
1 SCADA Market Overview
1.1 Product Overview and Scope of SCADA
1.2 SCADA Segment by Type (Product Category)…
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