Global Industrial Automation Oil And Gas Industry Outlook 2025-2029: Market Set to Cross $25.75 Billion Milestone

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How Large Will the Industrial Automation Oil And Gas Market Size By 2025?_x000D_
Over the past few years, the industrial automation market in the oil and gas sector has shown significant growth. The market is expected to rise from $17.74 billion in 2024 to $18.75 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. Factors driving this growth during the past period include digitization in the oil and gas industry, a stronger emphasis on operational efficiency, an uptick in exploration and production activities, a heightened demand for safety and compliance, along with the increase in offshore drilling._x000D_
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How Big Is the Industrial Automation Oil And Gas Market Size Expected to Grow by 2029?_x000D_
The market size of the industrial automation oil and gas sector is anticipated to exhibit robust growth over the forthcoming years, rising to a value of $25.75 billion in 2029 with a compound annual growth rate (CAGR) of 8.2%. This growth during the projected period can be ascribed to several factors, including the need for remote control and monitoring, the uptake of SCADA systems, unconventional oil and gas resources development, the application of advanced process control (APC), the expansion of industrial Internet of Things (IIOT), a focus on the cybersecurity aspect of industrial automation, a move towards cloud-based automation solutions, and a surge in the use of wireless sensor networks. The forecast period will also witness certain key trends comprising advancements in control systems and sensors, the incorporation of artificial intelligence in automation processes, the rise of robotics and self-directed systems, an emphasis on energy efficiency and sustainability, partnerships between automation providers and oil firms, the establishment of digital twins for asset management and augmented reality's application in training and maintenance operations._x000D_
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Which Key Market Drivers Powering Industrial Automation Oil And Gas Market Expansion and Growth?_x000D_
The escalating utilization of the Internet of Things (IoT) is predicted to fuel the expansion of the industrial automation oil and gas market in the future. The IoT, a web of interconnected computational devices, mechanical and electronic machinery equipped with unique identifiers (UIDs), offers the ability to convey information without the requirement for human-to-human or human-to-computer interaction. The assimilation of IoT devices and sensors into various components and procedures within the oil and gas sector enables real-time surveillance and data collection. Such integration provides efficient monitoring of equipment performance, environmental conditions, and safety parameters, thereby enhancing predictive maintenance and decreasing equipment downtime. For instance, a report released by the Global Mobile Supplier Association (GSA), a nonprofit industry group representing suppliers in the mobile communication industry based in the UK, indicated that global IoT connections had reached 13.2 billion in 2022 and were anticipated to rise by 18% to 34.7 billion by 2028. Consequently, the augmented utilization of the Internet of Things (IoT) stimulates the progress of the industrial automation oil and gas market._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Industrial Automation Oil And Gas Market?_x000D_
A crucial trend in cementing popularity within the industrial automation oil and gas market pertains to product innovations. Leading enterprises within this market have been focusing on the introduction of superior software tools within the oil and gas sector for maintaining their market standing. For instance, US-based GE Digital LLC, known for offering data analysis and software development services, launched the Accelerator tools in June 2022. This suite of top-tier software tools aims to help firms within the energy-rich sectors swiftly configure their asset performance management (APM) and other related services. The objective is to expedite value realization, widen the scope of APM to an extended range of assets, and help companies extract financial value at their respective facilities as well as across the enterprise. This tool is versatile, capable of being used across the entire energy value chain- from oil and gas all the way to assets producing power, vis-a-vis renewable energy, traditional gas power and nuclear production units. Companies can efficiently develop company-wide asset reliability and performance programs through these advanced pre-built product configurations, that fold in prioritized actionable data into daily operations._x000D_
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What Are the Emerging Segments in the Industrial Automation Oil And Gas Market?_x000D_
The industrial automation oil and gasmarket covered in this report is segmented - _x000D_
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1) By Component: Industrial Robots, Control Valves, Field Instruments, Human Machine Interference (HMI), Industrial PC, Process Analyzer, Intelligent Pigging, Vibration Monitoring_x000D_
2) By Stream: Upstream, Midstream, Downstream_x000D_
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)_x000D_
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Subsegments:_x000D_
1) By Industrial Robots: Articulated Robots, SCARA Robots, Collaborative Robots (Cobots) _x000D_
2) By Control Valves: Ball Valves, Gate Valves, Globe Valves, Butterfly Valves _x000D_
3) By Field Instruments: Pressure Transmitters, Flow Meters, Temperature Sensors _x000D_
4) By Human Machine Interface (HMI): Software HMI, Hardware HMI _x000D_
5) By Industrial PC: Panel PCs, Rack-Mount PCs _x000D_
6) By Process Analyzer: Gas Analyzers, Liquid Analyzers _x000D_
7) By Intelligent Pigging: Magnetic Flux Leakage (MFL) Pigs, Ultrasonic Pigs _x000D_
8) By Vibration Monitoring: Portable Vibration Analyzers, Online Vibration Monitoring Systems _x000D_
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Who Are the Global Leaders in the Industrial Automation Oil And Gas Market?_x000D_
Major companies operating in the industrial automation oil and gas market include Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corp., Emerson Electric Co., Rockwell Automation Inc., FANUC CORPORATION, Fuji Electric Co. Ltd., Omron Corporation, AMETEK Inc., Phoenix Contact, Festo Group, Endress+Hauser Group, Yokogawa Electric Corporation, AZBIL North Americas Inc., KUKA AG, WAGO Corp., Krohne Group, Pepperl+Fuchs SE, Beckhoff Automation LLC, Yokohama Industries Americas, Hitachi Industrial Equipment Systems Co. Ltd., VEGA Grieshaber KG _x000D_
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Which are the Top Profitable Regional Markets for the Industrial Automation Oil And Gas Industry?_x000D_
Asia-Pacific was the largest region in the industrial automation oil and gas market in 2024. The regions covered in the industrial automation oil and gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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