The Oil & Gas Automation Market was valued at USD 17.05 billion in 2020 and expected to reach USD 24.9 billion by 2026 and grow at a CAGR of 6.47% over the forecast period (2021 - 2026). The oil & gas industry has begun the move toward digitization with more sensors accumulating data from rigs around the world. Adopting digital technologies can improve internal communication and simplify plans by allowing engineering teams to work more efficiently with the oil & gas companies to better manage data and project requirements. Automation in the Oil & gas industry can improve efficiency and bring down costs.

- After the events of the Deepwater Horizon oil spill, the measurement of pressure and flow of oil is seen as a task that could be significantly improved through automation. The pressure, flow, and level of oil can be reported remotely from the field without any on-site crew, using smart sensors, which are connected to centralized monitoring software. With the help of this information, rig crews can monitor and adjust settings as needed.
- Declining sensor costs could also offer several cost-cutting measures to implement automation technologies in the oil & gas industry to improve productivity and eliminate any possible hindrances in the business model.
- Deployment of Internet of Things (IoT) Solutions is aiding the oil and gas industry, starting from downhole sensors to the surface control valves relaying real-time data into boardrooms for analysis. This not only helps improve operations but also creates a safer working environment for the entire oilfield. According to Cisco, by 2020, it is expected that 50 billion assets will use IoT and the Oil & Gas Industry is expected to leverage the same.
- Additionally, the oil & gas industry is suffering from a skilled labor shortage. The shallow talent pool has made it complicated for oil & gas companies to hire new employees with the technical skills required to work on new energy sources. Moreover, stress with the oil prices declining over 2020, in the wake of COVID-19 & price war between Saudi Arabi and Russia, is expected to drive the oil-producing companies to improve their production efficiency and is expected to drive the demand in the sector.

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Key Market Trends

Distributed Control Systems to Have Significant Share

- Distributed Control Systems (DCS) is integrated as a control architecture comprising a supervisory level of control overseeing multiple, integrated sub-systems that are responsible for managing the details of a localized process. The significant usage of DCS is to control industrial processes such as oil and gas refineries, oil production, etc.
- Some of the major drivers of DCS include increased use of renewable and nuclear energy for power generation and adoption of the industrial internet of things (IIoT) for real-time decision making.
- DCS is also flexible enough to integrate various hardware solutions to provide a comprehensive solution. DCS also has the capability to incorporate traditional SIMATIC ET 200 distributed I/O stations as well as use modern smart devices with the Internet Of Things (IoT) technology.

North America Holds a Significant Market Share

- The United States is the largest market for oil and gas in North America. In 2019, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continue to rise, which aligned perfectly with the new administration’s motto of “energy dominance†for the United States.
- In September 2019, the country exported 140,000 bpd more crude oil and petroleum products than imported. According to the Energy Information Agency, the total crude oil and petroleum net exports are expected to rise up to an average of 750,000 bpd in 2020 as compared with the net imports of 520,000 bpd in 2019.
- Baker Hughes uses the InForce surface control system, which combines the hydraulic power to activate downhole tools and the control logic to govern an intelligent well system. PLC controls system functions for more complex completion configurations. It is primarily used where remote operations must be done through existing SCADA.
- Chevron Corporation is also one of the significant American multinational energy organization that cuts across the energy spectrum with its varied applications, such as coal mining, oil and gas exploration, and refining. Chevron, in collaboration with Microsoft, undertook a project in which it used wireless sensors with heat exchangers to collect and send real-time data from the heat exchanger to the cloud. Chevron is also leveraging its partnership with Emerson for this heat exchange pilot program.

Competitive Landscape

The Oil & Gas Automation Market is fragmented and competitive in nature. Some of the players are Honeywell International Inc., Siemens Corporation, ABB Ltd, Rockwell Automation Inc., among others.

- March 2020 - Emerson and Quantum Reservoir Impact announced a partnership to develop and market next-generation applications for artificial intelligence-based analytics and decision-making tools designed for oil and gas exploration and production.
- February 2019 - Emerson launched a new campaign named “We See†global to showcase breakthrough innovation and positive opportunities for the company to improve the productivity and performance of its customers worldwide. The new campaign focuses on the challenges it solved in oil and gas, power, food safety, environmentally friendly refrigerants, and pharmaceutical manufacturing.

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