Industrial Automation Oil And Gas Market Overview: Market Size, Major Drivers And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global industrial automation oil and gas market size 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 industrial automation oil and gas market is expected to reach $22.18 billion in 2027 at a CAGR of 7.2%.
What will drive the industrial automation oil and gas market?
The increasing usage of the Internet of Things (IoT) is expected to propel the growth of the industrial automation oil and gas market going forward.
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Who are the major players in the market?
Major players in the industrial automation oil and gas market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd.
Which trend is gaining popularity in the industrial automation oil and gas market?Product innovations are a key trend for gaining popularity in the industrial automation oil and gas market. 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.
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How is the industrial automation oil and gas market segmented?
Global Industrial Automation Oil And Gas Market Segments Include:
- By Component: Industrial Robots, Control Valves, Field Instruments, Human Machine Interference (HMI), Industrial PC, Process Analyzer, Intelligent Pigging, Vibration Monitoring
- By Stream: Upstream, Midstream, Downstream
- 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)
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global industrial automation oil and gas market in 2021.
The Industrial Automation Oil And Gas Global Market Report 2023 provides an overview of the industrial automation oil and gas market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial automation oil and gas market forecast analyzes industrial automation oil and gas market size, industrial automation oil and gas market share, leading competitor and their market positions.
Industrial automation in oil and gas refers to applying advanced technologies and control systems to automate various processes involved in the extraction, production, refining, and distribution of oil and gas. Using industrial automation in the oil and gas sector increases efficiency, safety, and productivity while reducing operational costs and human intervention.
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