SCADA Oil and Gas Global Market Report 2024

The scada oil and gas market size has grown strongly in recent years. It will grow from $4.19 billion in 2023 to $4.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed in the historical period can be attributed to the increasing complexity of oil and gas operations, the need for pipeline monitoring, requirements for asset management, concerns related to safety and compliance, and efforts to enhance efficiency and productivity.

The scada oil and gas market size is expected to see strong growth in the next few years. It will grow to $5.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to digital transformation initiatives, the integration of renewable energy, the adoption of predictive analytics, a heightened focus on environmental sustainability, and an increased demand for remote operations. Major trends expected in this forecast period include the integration with Industrial IoT (IIoT), enhancements in cybersecurity, the adoption of cloud-based SCADA solutions, remote monitoring and control capabilities, advanced data analytics and AI applications, and the implementation of edge computing for real-time processing.

The anticipated surge in demand for the oil and gas market is poised to drive the SCADA (Supervisory Control and Data Acquisition) oil and gas market in the foreseeable future. The oil and gas industry holds significant sway as a major player in the global energy market, serving as a primary source of fuel. SCADA, a complex control system, plays a pivotal role in real-time process management within the realms of oil and gas gathering, transmission, and distribution. A notable projection from the International Energy Agency (IEA) in March 2021 indicates a forecasted global oil consumption of 104.1 million barrels per day by 2026, signifying a substantial increase of 4.4 million barrels per day from current levels. Thus, the escalating demand for the oil and gas market serves as a driving force for the SCADA oil and gas market.

The burgeoning demand for power generation is poised to fuel the growth of the SCADA oil and gas market. Power generation involves the conversion of various forms of primary energy, such as heat, kinetic energy, or chemical energy, into electricity. SCADA systems are instrumental in monitoring, controlling, and optimizing diverse processes, ensuring the efficient and secure operation of power generation facilities. Notably, a January 2022 report from the International Energy Agency (IEA) revealed a 6% increase in global energy demand in 2021, marking the most significant growth ever recorded at over 1,500 terawatt-hours. The report also forecasts an average annual increase in electricity demand of 2.7% for the period 2022-2024. Consequently, the growing demand for power generation is a key driver for the growth of the SCADA oil and gas market.

Product innovation emerges as a prominent trend gaining traction in the SCADA oil and gas market, with major companies actively developing innovative solutions to fortify their market positions. A case in point is GE Digital, a U.S.-based software company, which introduced an updated version of its CIMPLICITY 2022 HMI/SCADA software in February 2022. This secure-by-design automation platform offers client/server visualization and control capabilities for industrial operations, supporting connected workers and facilitating rapid time-to-value through no/low code innovation. Furthermore, the product's flexibility allows installation on-premises, in the cloud, or in a hybrid architecture, providing cost savings on infrastructure and maintenance.

Major players in the SCADA oil and gas market are strategically introducing advanced electronic devices such as remote terminal units (RTUs) to gain a competitive advantage. RTUs play a crucial role in SCADA systems by providing monitoring and control functionalities, data transmission, integration with existing systems, resilience in harsh environments, and reliability in data collection and transmission. Schneider Electric SE, a France-based digital automation and energy management company, launched SCADAPack 470i and 474i Smart RTUs in May 2023 for the control and monitoring of assets in the oil and gas sector. These Smart RTUs simplify telemetry network architecture, serving as data concentrators and efficiently transferring data from remote locations via data radios. The SCADAPack 470i and 474i boast a real-time operating system (RTOS) combined with a Linux-based applications processor, providing a specialized platform for complex edge computing services and protocols, compatible with both legacy and next-generation solutions.

In June 2022, Power Factors, a U.S.-based software company, acquired Inaccess Ltd. for an undisclosed amount. This strategic move involves integrating Inaccess' SCADA software, power plant and battery control, and market trading services with Power Factors' asset performance management solutions. This integration aims to drive the global renewable energy market toward dynamism and market-driven operations. Inaccess Ltd., based in the UK, is a provider of SCADA software in the oil and gas industry.

Major companies operating in the scada oil and gas market report are ABB Ltd., General Electric Company, Schneider Electric SE, Rockwell Automation Inc., Siemens AG, Emerson Electric Co., ICONICS Inc., Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Honeywell International Inc., PSI Software AG, Orbcomm Inc., Bentek Systems, Larsen & Toubro Technology Services Limited, Omron Corporation, Inductive Automation, Weatherford International plc, Technical Toolboxes Inc., Avanceon Limited, TRC Advanced Technologies Inc., International Business Machines Corporation, Weatherford International Ltd., Honeywell Process Solutions, Parametric Technology Corporation, AVEVA Group plc, CGG SA, Aucotec AG, eLynx Technologies LLC, Petrolink Services Inc., Apergy Corporation, Petrotechnics Ltd, Kepware Technologies, EnergySys Limited, Genscape Inc., P2 Energy Solutions LLC, Quorum Business Solutions Inc., Zedi Inc., WellAware Holdings Inc.

North America was the largest region in the SCADA oil and gas market in 2023. The regions covered in the scada oil and gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the scada oil and gas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of SCADA systems in the oil and gas sector include supervisory control systems and data acquisition systems. A data acquisition system comprises sensors, measuring devices, and a computer. It provides a comprehensive solution encompassing hardware, software, and services for the industrial processes in upstream, midstream, and downstream operations.

The SCADA oil and gas market research report is one of a series of new reports that provides SCADA oil and gas market statistics, including SCADA oil and gas industry global market size, regional shares, competitors with a SCADA oil and gas market share, detailed SCADA oil and gas market segments, market trends, and opportunities, and any further data you may need to thrive in the SCADA oil and gas industry. This SCADA oil and gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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