The report forecasts the global SCADA market in oil and gas industry to grow at a CAGR of 3.02% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend that is boosting market growth is the increased use of unconventional resources. The rising demand from India, China, and the Middle East countries are pushing the oil and gas industry to explore the various unconventional forms of energy such as shale gas. According to the IEA's World Energy Outlook, the demand for energy may rise by more than a third by 2035 owing to rising standards of living in India, China, and the Middle Eastern countries - together accounting for 60% increase. IEA predicted that the US would overtake Russia and Saudi Arabia by 2017 and aims to become the net explorer of oil by 2030.
According to the report, a key growth driver is the demand for real-time information. Exploration and production are key activities of the oil and gas industry that demand continuous maintenance and well integrity to ensure the safety of employees, oil and gas equipment, and the natural environment. SCADA systems enable the oil and gas industry to share real-time information on well site conditions with the decision maker, that work from a remote location. The data collected from RTU or PLC by SCADA enable companies to simultaneously monitor, visualize, and analyze oilfield operations.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?