Oil & Gas Automation & Instrumentation Market Worth $31.24 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) January 30, 2014 -- According to a new market research report of "Oil & Gas Automation & Instrumentation Market (SCADA, DCS, PLC & MES), Instrumentation, Analyzers, Flow Computers, Leakage Detection, Operation & Geography – Analysis & Forecast (2013 - 2020)", the market is expected to grow at a CAGR of 8.23% from 2013 to 2020, and reach $31.24 billion in 2020.
Browse more than 123 market data tables with 98 figures spread through 393 pages and in-depth TOC on "Oil & Gas Automation & Instrumentation Market": http://www.marketsandmarkets.com/Market-Reports/process-automation-instrumentation-market-1289.html.
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Global process automation & instrumentation market in the oil & gas industry is a fast developing market, which includes five segments namely process automation, process instrumentation, process analyzer, flow compute, and leakage detection system. Process automation & instrumentation market in the oil and gas industry is completely dependent on the oil & gas market growth. In the future, process automation & instrumentation market in the oil and gas industry is expected to control the growth of the oil & gas market because of its high quality service offerings.
The overall Global oil & gas automation & instrumentation market by industry is segmented into three major segments namely technologies, operation, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately classified in the report. The global process automation & instrumentation market in the oil & gas industry is expected to reach up to $31.24 billion by 2020, at an estimated CAGR of 8.23% from 2013 to 2020.
The two major driving factors for the process automation & instrumentation market in oil & gas market are upgrading old oil and gas platform, and the rising demand of oil and gas, both of which, are expected to boost the market; the growing emphasis on safety & security is considered to be of strategic importance in the oil and gas market. In the report, different technologies are discussed such as SCADA, DCS, PLC, MES, analyzer, flow computers, and leakage detection system.
Process automation & instrumentation market in the oil & gas industry is growing. Various innovations are taking place to develop the oil & gas automation market; such as the introduction of advanced computer software and improved hardware.
Geographical split for the oil & gas automation & instrumentation market is included in the report. It presents the market share of the different geographies of the oil & gas automation & instrumentation market. This report divides the overall market on the basis of the six major geographical segments, namely Americas, Middle East, Africa, Europe, APAC, and ROW. Middle East is the market leader in the overall oil & gas automation & instrumentation market, followed by Americas and ROW.
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