Product category:
Process Control: SCADA, ERP, MES and networks
News Release from: ARC Advisory Group | Subject: Scada market in O+G
Edited by the Processingtalk Editorial
Team on 19 July 2007
Dynamic SCADA systems in the oil and gas
industry
The worldwide market for SCADA Systems for the oil and gas industry is expected to grow at a compound annual growth rate (CAGR) of 8.9% over the next five years, to over USD1141M in 2011
The far-reaching impact of technology and a quantum change in the way companies are restructuring and streamlining business processes are transforming the global Supervisory Control and Data Acquisition (SCADA) markets: in the oil and gas industries the market in 2006 was USD745M The latest SCADA systems encompass a new generation of technology components
This article was originally published on Processingtalk on 21 Nov 2003 at 8.00am (UK)
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"These new generations of SCADA components are easier to integrate and provide vastly improved capabilities and functionalities.
SCADA systems are now being considered in a wide range of applications and true business processes for a variety of purposes, including business performance management," according to Research Director Russ Novak, the principal author of the ARC "SCADA Systems for the oil and gas industry".
ARC has analysed the SCADA market by geographic region, project size, and component type, including hardware, software, and services.
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The worldwide SCADA market for the oil and gas industry is expanding as upstream development and new production occurs in remote and newly developed regions, and the existing oil and gas infrastructure utilises the enhanced functionalities of SCADA to improve its core business processes of managing global disparate assets.
The market presently exceeds USD745 million.
New SCADA technology enables energy companies to conduct their business in remote and increasingly hostile environments.
Exploration activities and new production fields are developed, monitored, controlled, and optimised globally using advanced technologies, including SCADA.
The oil and gas industry in developed regions is using SCADA as a core technology to support new business processes in response to changing industry dynamics.
Developing regions are seeing increased exploration and production activities for which SCADA is used to link the geographically separated facilities.
SCADA will be at the core of technology adoptions as the world economy strengthens, and as the industry moves to improve business processes to meet growing energy demand and economic challenges.
In both the upstream and midstream portions of the oil and gas industry, SCADA will play an increasingly important role in the realtime dissemination of knowledge and management control of assets.
North America and Europe, the Middle East, and Africa continue to dominate.
The market focus is also drawn to developing regions of the world, where numerous major Greenfield energy projects are occurring at a pace that exceeds that of the developed regions.
For more information on this study, go to the ARC website.
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