According to a new report published by UnivDatos, the SCADA Oil & Gas Market was valued at USD 4 billion in 2020 and is expected to grow at a CAGR of 5% from 2022-2028. The analysis has been segmented into Architecture System (Hardware, Software, Services); Sector (Upstream, Midstream, Downstream); Region/Country.

The SCADA Oil & Gas market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the SCADA Oil & Gas market. The SCADA Oil & Gas market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the SCADA Oil & Gas market at the global and regional levels.

Market Overview

SCADA oil & gas market is witnessing a surge in the recent year owing to the growing adoption of IoT in the oil and gas industry coupled with the soaring need to improve the production process in the industry. In oil and gas SCADA software provides operators with the ability to monitor pipelines and gas well production. If there are any issues, automatic notifications and alerts are sent. The improvement in performance enables the gas and oil industry to remain competitive by maximizing its resources and processes.

Moreover, SCADA provides numerous benefits to companies in the gas and oil sector at every operational level. It reduces human errors and offers the precision necessary for improving efficiency and effectively decreasing expensive downtime risk. SCADA collects data in the oil and gas industry on a real-time basis that helps in exceuting the strategic responses instantly which in turn correctly anticipates the trends for effective decision making

ABB Ltd., General Electric Company, Honeywell International Inc., CygNet Software, Inc., Siemens AG, Schneider Electric SE, Rockwell Automation, Inc., PSI AG, Mitsubishi Electric Corporation, and Orbcomm Inc.

COVID-19 Impact

During Coronavirus Pandemic in 2020, the SCADA Oil & Gas market was severely impacted. It is mainly owing to the shutdown of the manufacturing industry and restriction by the government to maintain social distancing that has halted works in oil and gas sector which severely impacted the market growth of the SCADA Oil & Gas market.

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The global SCADA Oil & Gas market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on the architecture system, the SCADA Oil & Gas market is segmented into hardware, software, and services. The hardware segment caters substantial share of the market. It is mainly due to the increasing investment in the oil and gas industry which in turn is escalating the adoption of sensors and equipment in the process that crucial for collecting data from SCADA. Whereas the software segment also acquired a significant share as software-based solution assists in monitoring and controlling the process.

·        Based on sector, the SCADA Oil & Gas market is bifurcated into upstream, midstream, and downstream. The upstream segment caters considerable share of the market. SCADA monitors telecommunication networks and physical wellheads for upstream applications. In addition, upstream, the data transmission is crucial in which various parameters are observed such as pressure and condition of the wellbore and expected first oil production. Moreover, rising government investment in pipeline infrastructure from countries such as the U.S., Canada, Russia, China, and India is boosting the midstream segment share in the market.

SCADA Oil & Gas Market Geographical Segmentation Includes:

·        North America (United States, Canada, and Rest of North America)

·        Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·        Rest of the World

North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the increasing investment in the pipeline infrastructure and the adoption of cloud services in the region is escalating the market size of SCADA oil & gas. In addition, declining and fluctuating oil and gas prices are expected to slow down the demand for the market in the years to come. However, the growth in R&D in the wireless sensor network and increased use of big data analytics offer lucrative opportunities for the market.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the SCADA Oil & Gas market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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