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TMCNet:  Industrial Automation Market for Oil and Gas Worth 15.52 Billion USD by 2023

[June 16, 2017]

Industrial Automation Market for Oil and Gas Worth 15.52 Billion USD by 2023

PUNE, India, June 16, 2017 /PRNewswire/ --

According to the new market research report "Industrial Automation Market for Oil & Gas by Solution (Distributed Control System, Programable Logic Controller, SCADA), Instruments (Field Instruments, Control Valve, Leakage Detection System, Flow Computer), and Geography - Global Forecast to 2023", published by MarketsandMarkets�, the industrial automation market for oil & gas is expected to reach USD 15.52 Billion by 2023, growing at a CAGR of 3.2% between 2017 and 2023. Factors that are driving the growth of the market include value addition to the industrial automation for oil & gas by the Internet of Things, and optimum and effective exploration of aging reservoirs.

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Browse 74 market data tables and 89 figures spread through 192 pages and in-depth TOC on"Industrial Automation Market for Oil & Gas - Global Forecast to 2023".

http://www.marketsandmarkets.com/Market-Reports/process-automation-instrumentation-market-1289.html

Early buyers will receive 10% customization on this report

"The industrial automation market for oil & gas for manufacturing execution system expected to grow at the highest rate between 2017 and 2023"

The manufacturing execution system (MES) in industrial automation is a core solution for gathering real-time data, analyzing the data, and storing them for current and future decision-making process. MES helps maintain the updated data pertaining to product life cycle, product quality, order execution and dispatch, resource scheduling, downtime management for overall equipment effectiveness (OEE), and production analysis. These factors are expected to continue to gain a large share in the industrial automation market for oil & gas.

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"Market for leakage detection system is expected to grow at the highest rate during the forecast period"

The industrial automation market for oil & gas for leakage detection system is expected to grow at the highest rate during the forecast period. As pipelines transport a huge amount of oil and condensate over long distances, they require the most accurate technique for leaage monitoring and detection. E-RTTM is one of the widely used technologies incorporated in the modern leak detection systems, which have applications in the oil and natural gas industry. Therefore, the market for this technology is expected to grow at the highest rate during the forecast period.

"The Middle East and Africa expected to hold the largest share of the industrial automation market for oil & gas during the forecast period"

The growing competition in the global market is forcing companies in the process industries in the Middle Eastern countries to adopt innovative cost reduction techniques and solutions along with increasing productivity. This is expected to boost the demand for industrial automation market for oil & gas in the Middle East and Africa. The various exhibitions held in this region further boost the market. For example, in 2015, from January to April, ISA Saudi Arabia planned to deliver a total of 11 educational and networking sessions in the field of automation to promote the field of automation and train professionals, solving their technical problems and enhancing leadership skills.

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The major players involved in the industrial automation market for oil & gas are ABB (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International Inc. (US), Rockwell Automation Inc. (US) Schneider Electric SE (France), Endress+Hauser AG (Switzerland), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).

Browse Related Reports

SCADA Market by Component (Programmable Logic Controller, Remote Terminal Unit, Human Machine Interface, Communication Systems), Architecture (Hardware, Software, Services), Application, and Geography - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/scada-market-19487518.html

Terminal Automation Market by Offering (Hardware (SCADA, PLC, Security System, Field Devices, Tank Loading Area), Software & Services),Project Type (Brownfield, and Greenfield), Vertical and Geography - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/oil-gas-terminal-automation-market-37561320.html

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About MarketsandMarkets�

MarketsandMarkets� provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets� for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets� are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets� now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets� is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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SOURCE MarketsandMarkets


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