London, 13 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the Automation and Instrumentation Market in Europe in Oil and Gas Industry 2015-2019, which is expected to grow steadily at a CAGR of 5.63% during the forecast period of 2014-2019.
“Vendors have started offering cloud-based SCADA solutions and other automation solutions to the oil and gas industries,” says Faisal Ghaus, Vice President of TechNavio.
“Cloud-based automation helps in the sharing of real-time information, removing time and location constraints.”
Key Market Drivers
- Increased exploration activities
- Upgrades of existing systems
- Government regulations
Key Market Trends
- Development of cloud-based automation solutions
- Blurring lines of distinction between DCS, PLC, and SCADA
- Increased number of smart oil and gas fields
- Increase in R&D
Key Market Vendors
- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Rockwell Automation Inc.
- Siemens AG
- Yokogawa Electric Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Automation and Instrumentation Market in Europe in Oil and Gas Industry 2015-2019; please send an e-mail to media@TechNavio.com.
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