SCADA Oil & Gas Market – Projected To Reach US$4.5 Billion By 2022

SCADA Oil & Gas Market - Projected To Reach US$4.5 Billion By 2022

Dublin, Ireland: The “SCADA Oil & Gas Market  – Trends and Global Forecast to 2022” report has been added to Research and Markets’offering.

The SCADA oil & gas market is projected to grow at a CAGR of 5.77 percent from 2017 to 2022, to reach a market size of US$4.52 Billion by 2022. Increased investments in pipeline networks, rising demand for remote management of oil & gas pipelines, and increased thrust on process optimisation through automation and digitalisation is expected to drive the SCADA oil & gas market during the forecast period.

The report segments SCADA oil & gas market based on architecture into hardware, software, and services. The hardware segment dominated the SCADA oil & gas market, by architecture, in 2016 accounting for the largest share in the total project spending. Hardware segment is followed by the software and services segments in terms of market share. Rising investments focused on automated devices in the oil & gas infrastructure is expected to drive the hardware segment.

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Based on stream, the SCADA oil & gas market is segmented into upstream, midstream, and downstream. Midstream is the largest segment for the SCADA oil & gas market, by value stream. Rising investments in pipeline infrastructure from countries, such as, the US, Canada, Russia, China, and India, is expected to drive the market during the forecast period.

In this report, the SCADA oil & gas market has been analysed with respect to seven regions, namely, North America, Europe, Asia Pacific, South-East Asia, South America, the Middle East, and Africa. North America is expected to dominate the SCADA oil & gas market during the forecast period, due to increase in investments in the pipeline infrastructure and increased adoption of cloud services in the region. Growing investments in refineries and exploration of new oil & gas fields in the US and Canada is also expected to drive the demand for SCADA in the oil & gas industry in North America.

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