Frost & Sullivan: Oil and Gas Firms in Southeast Asia, Australia, New Zealand Adopt More Automation Solutions to meet need for Energy Efficiency
27 Feb, 2013, 03:32 GMT
- Need to reduce operating costs and optimize efficiency sustains automation and software product uptake
KUALA LUMPUR, Malaysia, Feb. 27, 2013 /PRNewswire/ -- Rising energy needs are compelling oil and gas companies in Southeast Asia (SEA) as well as Australia and New Zealand (ANZ) to decrease operating costs and improve efficiency through automation and software solutions. With a large number of oil and gas-based projects in the pipeline, the SEA and ANZ automation and software solutions market is expected to continue its steady growth.
New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), SE Asia and ANZ Automation and Software Solutions Market for the Oil & Gas Industry, finds that the market earned revenues of over US$282.1 million in 2011 and estimates this to reach US$447.8 million in 2018.
Low-cost manufacturing facilities in developing economies have enabled automation solution providers to establish a global supply chain network and expand their market in SEA.
"The demand for energy efficiency in emerging countries such as Indonesia, Thailand, and Malaysia has increased uptake of automation and software solutions," said Frost & Sullivan Research Analyst Vineeth Purushotham. "Distributed control systems are the most popular among oil and gas companies in both SEA and ANZ."
Energy corporations tend to opt for a single solution provider to meet all their automation requirements. Therefore, automation vendors look to provide one-stop solutions and expand their product base through strategic mergers and acquisitions, which intensifies competition.
Another challenge for vendors is the integration of advanced information technologies and modern control systems into the automation platform. The lack of personnel with control system and IT skills in end-user firms further hinders the installation and maintenance of automation systems.
"To maintain efficiency, oil and gas enterprises require engineers with both control systems knowledge and IT skills," noted Purushotham. "Multinational automation providers should train automation engineers in-house and work with universities to create specific, industry-related courses."
Manufacturing execution systems, which effectively manage resources to improve plant efficiency and productivity, will generate additional revenues.
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
SE Asia and ANZ Automation and Software Solutions Market for the Oil & Gas Industry is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Automation & Software Solutions for Power Industry, North American Submersible Pump Market, and Middle East Advanced Process Control (APC) and Process Optimization (PO) Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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SE Asia and ANZ Automation and Software Solutions Market for the Oil & Gas Industry
P6E5-10
Contact:
Donna Jeremiah
Corporate Communications - Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com
Carrie Low
Corporate Communications - Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Jessie Loh
Corporate Communications - Asia Pacific
P: +65 6890 0942
F: +65 6890 0988
E: jessie.loh@frost.com
SOURCE Frost & Sullivan