Overview and Scope
SCADA stands for Supervisory Control and Data Acquisition, which refers to a software system that provides operators with the ability to monitor and communicate oil and gas well production. If there are any issues, automatic notifications and alerts are sent. By improving performance, the gas and oil industry can remain competitive by maximizing its resources and processes.
Sizing and Forecast
The scada oil and gas market size has grown strongly in recent years. It will grow from $4.19 billion in 2023 to $4.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growing complexity of oil and gas operations, pipeline monitoring requirements, asset management needs, safety and compliance, efficiency and productivity improvements..
The scada oil and gas market size is expected to see strong growth in the next few years. It will grow to $5.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to digital transformation initiatives, renewable energy integration, adoption of predictive analytics, focus on environmental sustainability, demand for remote operations.. Major trends in the forecast period include integration with industrial iot (iiot), cybersecurity enhancements, cloud-based scada solutions, remote monitoring and control, advanced data analytics and ai, edge computing for real-time processing..
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Segmentation & Regional Insights
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
North America was the largest region in the SCADA oil and gas market in 2023. 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
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Major Driver Impacting Market Growth
The increasing demand for the oil and gas market is expected to propel the SCADA oil and gas market going forward. Oil and Gas refer to major industries in the energy market that plays an influential role in the world’s primary fuel sources. SCADA (Supervisory control and data acquisition) is a control system complex that manages real-time processes for application in oil and gas gathering, transmission, and distribution. For instance, in March 2021, according to the International Energy Agency (IEA) Oil 2021 report, a France-based intergovernmental organization, global oil consumption is projected to reach 104.1 mb/d by 2026, which would represent an increase of 4.4 mb/d from the current levels. Thus, increasing demand for the oil and gas market is driving the SCADA oil and gas market.
Key Industry Players
Major companies operating in the SCADA oil and gas market are focused on introducing advanced electronic devices, such as remote terminal units (RTUs), to gain a competitive edge in the market. RTUs are essential components of SCADA systems, providing monitoring and control capabilities, data transmission, integration with existing systems, resistance to harsh environments, and reliability in data collection and transmission. For instance, in May 2023, Schneider Electric SE, a France-based company that specializes in digital automation and energy management, launched SCADAPack 470i and 474i Smart RTUs (remote terminal units) to encompass the control and monitoring of assets in the oil and gas sector. With this new approach, remote asset operators will be able to simplify the architecture of their telemetry network by using SCADAPack as a data concentrator and impressing data from their remote locations onto a smaller package that can be transferred across data radios. By combining a real-time operating system (RTOS) with a Linux-based applications processor, the SCADAPack 470i and 474i provide a specialized platform for complex edge computing services and protocols. The SCADAPack 470i and 474i are compatible with both old and next-generation solutions.
The scada oil and gas market report table of contents includes:
1. Executive Summary
2. SCADA Oil And Gas Market Characteristics
3. SCADA Oil And Gas Market Trends And Strategies
4. SCADA Oil And Gas Market – Macro Economic Scenario
5. Global SCADA Oil And Gas Market Size and Growth
….
31. Global SCADA Oil And Gas Market Competitive Benchmarking
32. Global SCADA Oil And Gas Market Competitive Dashboard
33. Key Mergers And Acquisitions In The SCADA Oil And Gas Market
34. SCADA Oil And Gas Market Future Outlook and Potential Analysis
35. Appendix
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