According to a new market research report of "Oil & Gas Automation & Instrumentation Market (SCADA, DCS, PLC & MES), Instrumentation, Analyzers, Flow Computers, Leakage Detection, Operation & Geography – Analysis & Forecast (2013 - 2020)", the market is expected to grow at a CAGR of 8.23% from 2013 to 2020, and reach $31.24 billion in 2020.
The overall Global oil & gas automation & instrumentation market by industry is segmented into three major segments; namely technologies, operation, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately classified in the report. The global process automation & instrumentation market in the oil & gas industry is expected to reach up to $31.24 billion by 2020, at an estimated CAGR of 8.23% from 2013 to 2020.
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Process automation & instrumentation market in the oil & gas industry are segmented into five technologies; namely process automation, process instrumentation, process analyzer, flow computer, and leakage detection system. The other segmentation is done on the basis of the operational activities, namely the upstream operation, midstream operation, and downstream operation.
Process automation & instrumentation market in the oil & gas industry is expected to reach $31.24 billion by 2020, at an estimated CAGR of 8.23% from 2013 to 2020.
The overall process automation & instrumentation market in the oil & gas industry is segmented into three major segments, namely technology, operation, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report. Geography-wise segmentation is also done for the oil & gas automation & instrumentation market. The market by geography is segmented on the basis of the six major regions, namely the Americas, the Middle East, Europe, APAC, Africa, and Rest of the World (ROW).
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The main drivers for the process automation and instrumentation market in oil and gas industry include:- exploration and extraction of shale gas, rising demand of oil and gas, upgrading old oil and gas platform, exploration and extraction from aging oil and gas wells, and the increasing emphasis on safety and security. Development of oil and gas in the emerging economies is expected to be a major growth opportunity with regards to the process automation and instrumentation market in the oil and gas industry. Moreover, major restraints for the market include matured and saturated developed economies, and issues of integration of the data generated by installed automation products.
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