Industrial Automation Market for Oil and Gas Growing at a CAGR of 3.2% During 2017 to 2023 - ReportsnReports.com

PUNE, India, June 22, 2017 /PRNewswire/ --

Industrial Automation Market for Oil & Gas report provide premium insights of top 25 Vendors and companies' Business Overview, Market Ranking Analysis, Dive Chart, Innovators, Product Offerings, Business Strategy, Competitive Situation and Trends that is New Product Launches and Developments Partnerships, Agreements, Contracts, Joint Ventures, and Collaborations, Acquisitions, Expansions.

Browse 68 tables and 102 figures, 12 Company profiles spread across 201 pages available at:

http://www.reportsnreports.com/reports/1069215-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-st-to-2023.html .

"The industrial automation market for oil & gas is expected to exhibit significant growth potential between 2017 and 2023" 

The industrial automation market for oil & gas is expected to reach USD 15.52 billion by 2023,at a CAGR of 3.2% between 2017 and 2023. Key driving factors for the growth of the industrial automation market for oil & gas are the need for optimum and effective exploration of aging reservoirs and the Internet of Things adding value to the industrial automation for the oil & gas industry. However, the instability of the oil & gas market in Middle Eastern countries, increasing shift toward the adoption of renewable energy sources, and declining and fluctuating oil and gas prices are considered to be major restraints for the industrial automation market for oil & gas.

The objective of the report is to provide a detailed analysis of the industrial automation market for oil & gas on the basis of solution, instrument, and geography. The report provides detailed information regarding the major factors influencing the growth of the industrial automation market for oil & gas. The report also provides a detailed overview of the value chain in the industrial automation market for oil & gas.

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"DCS is expected to hold a major share of the industrial automation market for oil & gas during the forecast period." 

Distributed control system (DCS) is expected to hold a major share of the market by 2023. The distributed control system controls various components that are distributed in the overall system of industrial automation for oil & gas, enabling the maintenance of digital communication between various components such as distributed controllers, workstations, and other computing elements. The DCS controls processes such as oil & gas refineries, pipeline transport, and extraction in the oil & gas industry.