Industrial Automation Market

Siemens AG (Germany) and ABB Ltd. (Switzerland) are Some of the Leading Players in the Industrial Automation Market

Industrial automation is a system that operates various processes in an industry using control systems such as computers and information technologies to reduce human intervention. This system is used in the oil & gas industry for automating various processes. Various solutions in industrial automation for oil & gas include SCADA, PLC, DCS, HMI, safety automation, advanced process control, and MES. The industrial automation market for oil & gas is expected to reach USD 15.52 Billion by 2023 growing at a CAGR of 3.2% between 2017 and 2023. The growth of this market is propelled by the increased demand for optimum and effective exploration of aging reservoirs and Internet of Things, adding value to the industrial automation market for oil & gas.

Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Co. (US), Schneider Electric SE (France), and Honeywell International Inc. (US) are some of the leading players in the industrial automation market for oil & gas. Some of the key strategies adopted by the major players to gain a competitive edge in the market include product launches and developments, partnerships, agreements, contracts, joint ventures, collaborations, expansions, and acquisitions.

Siemens AG (Germany) is one of the major players in the industrial automation market for oil & gas. The combination of SIMATIC SCADA systems and SIMATIC Industrial PCs of Siemens provides a high-performance and reliable platform for the acquisition, evaluation, and visualization of data. The company adopted organic growth strategies such as product launches and developments to gain a maximum share of the industrial automation market. In September 2016, the company developed the largest geared compressor rotor in the world at its facility in Germany. It has upgraded its model SGT-800 industrial gas turbine. The company is also focused on the acquisition strategy; for example, in November 2016, it acquired Mentor Graphics, which is a leader in design automation software ranging from integrated circuit (IC) and system-on-chip (SoC) designs to automotive electronics solutions. It also increased the funding of joint innovation investment program with Atos by USD 257.96 million (€230 million). A major portion of its revenue is invested in R&D for the development of new and competitive products in the industrial automation market for oil & gas. The technological innovation helps the company gain a competitive advantage in the industrial automation market for oil & gas.

ABB (Switzerland) was the leading company in the industrial automation market for oil & gas in 2016. The company has established a strong brand name owing to its innovative strength, technological excellence, high sustainability, and quality of products. To maintain its position in the market, the company has been focusing on inorganic growth strategies such as joint venture and acquisition to gain a maximum share of the industrial automation market for oil & gas. In February 2017, the company acquired Spanish start-up company NUB3D (Barcelona). It also acquired ABB acquired SVIA (Sweden) for its specialization in industrial automation.

Other companies involved in the development of industrial automation systems for oil & gas include General Electric Co. (US), Endress+Hauser AG (Switzerland), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (US), and Yokogawa Electric Corporation (Japan).

Related Reports:

Industrial Automation Market for Oil & Gas by Solution (Distributed Control System, Programable Logic Controller, SCADA), Instruments (Field Instruments, Control Valve, Leakage Detection System, Flow Computer), and Geography - Global Forecast to 2023

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Report Code
SE 2169
Published ON
Jun, 2017
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