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(IT-NEWSWIRE.COM, September 18, 2018 ) According to Verified Market Intelligence, the Global Industrial Automation Market for Oil & Gas Market is projected to reach 14.71 billion by 2025 from an estimated value of 12.22 billion in 2017, growing at a CAGR of 2.4% from 2018 to 2025.
With rapid industrialization and modernization in the process plants, the adoption of big data analytics and internet of things is growing as a part of Industry 4.0. This has boosted the industrial automation, especially in the oil & gas sector. The industrial automation has benefitted the oil & gas industry in several ways such as condition monitoring, tracking data using real-time monitoring and predictive analytics. The presence of multiple pipelines and ducts in the oil & gas refineries has made it important to implement automation in the industries.
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Increased usage of the internet of things (IoT) in Industrial Automation Market for Oil & Gas market and optimum and effective exploration of aging reservoirs are the two main factors driving the global Industrial Automation Market for Oil & Gas market. Other than this, declining oil & gas prices could hamper the overall growth rate of the market at a global level.
The “Global Industrial Automation Market for Oil & Gas Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as ABB Ltd., Emerson Electric Co., Honeywell International Inc., Schneider Electric SE, Siemens AG, Endress+Hauser AG, General Electric Co. and Mitsubishi Electric Corp. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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About Us: Verified Market Research Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and littler, more expert concerns.
Contact Information: Verified Market Research Contact Person: Ankush Tel: +1650781 4080 Email us: sales@verifiedmarketresearch.com
Verified Market Research
Amaan Kazi
+1 (650) 781 4080
amaankazi@verifiedmarketresearch.com
Source: EmailWire.Com
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