Future growth of SCADA Oil and Gas Market by Schneider Electric Se, Mitsubishi Electric Corporation

Seattle, Mar 8, 2019 (Issuewire.com) – Flairinsights has announced the addition of the “Global SCADA Oil & Gas Market Size Status and Forecast 2025″, The report classifies the Global SCADA Oil & Gas Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

The Global SCADA Oil & Gas Market was valued at USD 3.34 billion in 2016 and is projected to reach USD 5.55 billion by 2025, growing at a CAGR of 5.81% from 2017 to 2025. 

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SCADA is a highly configurable set of industrial software applications that can be used to support management of any form of process production. SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors. Benefits of SCADA oil & gas system includes – better control and coordination, enhance safety, asset optimization, increase in the reliability, reductions in the time, effort and cost of integration, gather and process real-time data.

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Market Dynamics:
1. Market Drivers
1.1 Rising adoption of big data analytics and cloud computing services
1.2 Increased R&D in the wireless sensor networks in SCADA systems
1.3 Rising demand for remote management of oil & gas pipelines
1.4 Growing pipeline networks
1.5 Optimum and effective exploration of ageing reservoirs
1.6 Growing focus on process optimization through automation and digitalization
2. Market Restraints
2.1 Increasing cyber security threats
2.2 Issues with the interoperability of multiple system components from different solutions providers
2.3 Changing oil & gas prices
2.4 High investment cost

Market Segmentation:
The Global SCADA Oil & Gas Market is segmented on the stream, component, and region.

1. Stream:
1.1 Upstream
1.2 Midstream
1.3 Downstream 

2. By Component:
2.1 Software
2.2 Hardware
2.3 Services 

3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America) 
3.5 Middle East & Africa

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Competitive Landscape:
The major players in the market are as follows:
1. Schneider Electric Se 
2. Mitsubishi Electric Corporation 
3. General Electric Company 
4. PSI AG 
5. Emerson Electric Co. 
6. Honeywell International Inc. 
7. Technipfmc, PLC
8. ABB Ltd. 
9. Rockwell Automation, Inc. 
10. Siemens AG 
11. Yokogawa Electric Corporation 
12. Larsen & Toubro Limited 
13. IBM Corporation 

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Source :flairinsights

This article was originally published by IssueWire. Read the original article here.

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