London, 10 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the PLC Market in the Oil and Gas Industry in the Americas 2015-2019, which is expected to grow at a CAGR of 7.2 percent during the forecast period of 2014-2019.
The PLC system is in great demand from the Oil and Gas industry because of the increasing demand for oil and gas. To balance this supply and demand, oil and gas producers are adopting automation solutions so as to efficiently extract, store, and transport oil and gas. Various environmental regulations are also forcing oil and gas producers to implement automation solutions in the extraction process.
“Many manufacturing companies need enterprise-wide integrated PLC applications, especially PLCs that are integrated with ERP software,” says Faisal Ghaus, Vice President of TechNavio.
“Enterprise-wide PLC applications increase the efficiency and effectiveness of a manufacturing plant. They also enable operators to manage the entire plant automation system with real-time information.”
Key Market Drivers
- Increased Exploration and Production Activities
- Need to Improve Decision-making Process
- Need to Comply with Stringent Government Policies and Environmental Regulations
- Growing Need to Reduce Machine Downtime
Key Market Trends
- Increased Adoption of Integrated PLCs
- Increased Demand for Cyber-secured PLCs
- Blurring Lines of Distinction among DCS, PLC, and SCADA Solutions
Key Market Vendors
- ABB Ltd.
- GE Co.
- Mitsubishi Electric Corp.
- Rockwell Automation Inc.
- Schneider Electric Co.
- Siemens AG
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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
