The Business Research Company’s Industrial Automation Oil And Gas Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Industrial Automation Oil And Gas Global Market Report 2023 evaluates industrial automation oil and gas market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global industrial automation oil and gas market 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The industrial automation oil and gas market is expected to reach $22.18 billion in 2027 at a CAGR of 7.2%.
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. The Internet of Things (IoT) is a networked system of interconnected computing devices, mechanical and electronic machinery with unique identities (UIDs), and the capacity to transfer data without needing human-to-human or human-to-computer contact. The oil and gas industry can achieve real-time monitoring and data collection by integrating IoT devices and sensors into various components and processes. It allows for efficient tracking of equipment performance, environmental conditions, and safety parameters, resulting in better predictive maintenance and reduced downtime. For instance, in March 2023, according to a report published by the Global Mobile Supplier Association (GSA), a UK-based not-for-profit industry organization representing suppliers in the mobile communication industry, the global IoT connections reached 13.2 billion in 2022 and are expected to increase by 18% to 34.7 billion by 2028. Therefore, the increasing usage of the Internet of Things (IoT) drives the industrial automation oil and gas market.
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The industrial automation oil and gas market segments in the report are:
1) By Component: Industrial Robots, Control Valves, Field Instruments, Human Machine Interference (HMI), Industrial PC, Process Analyzer, Intelligent Pigging, Vibration Monitoring
2) By Stream: Upstream, Midstream, Downstream
3) 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)
The table of contents in TBRC’s industrial automation oil and gas market report includes:
1. Executive Summary
2. Industrial Automation Oil And Gas Market Characteristics
3. Industrial Automation Oil And Gas Market Trends And Strategies
4. Industrial Automation Oil And Gas Market – Macro Economic Scenario
5. Global Industrial Automation Oil And Gas Market Size and Growth
32. Global Industrial Automation Oil And Gas Market Competitive Benchmarking
33. Global Industrial Automation Oil And Gas Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Automation Oil And Gas Market
35. Industrial Automation Oil And Gas Market Future Outlook and Potential Analysis
Top Major Players:
General Electric Company
Mitsubishi Electric Corporation
Schneider Electric SE
Honeywell International Inc.
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