SCADA market for oil & gas propelled by Asia’s sprinting economy
Following the global recession of 2008-2009, the Asia market for supervisory control and data acquisition (SCADA) has rebounded strongly, growing at a near double-digit rate. Asia’s fast-growing economy is further boosting the market for SCADA oil and gas systems.
Today’s SCADA systems offer a new generation of technology components that are easier to integrate and provide improved capabilities and functionalities. As demand for oil escalates and investments increase, the industry is projected to return to robust levels in the coming years, according to a new ARC Advisory Group study.
Factors driving the Asia SCADA market in the oil and gas industry include continuing Asia demand for additional energy from carbon-based fuels, the shifting of exploration and production locations to more remote and hostile environments, and end user requirements to link SCADA to information technology and business systems. Operating companies are placing an increasing emphasis on vendor services over the entire value chain and asset lifecycle, and are looking for additional functionalities in application software.
Key issues include addressing the need to integrate SCADA systems with business systems, delivering advanced applications to help manage an increasingly complex business environment, and solutions to maintain system security and the integrity of both upstream and midstream assets.
“Asia’s Supervisory Control and Data Acquisition (SCADA) market reflects the impact of new technology on SCADA components and cost-effective communications for both data and knowledge transfer,” says G. Ganapathiraman, co-author of ARC’s “SCADA Systems for the Oil & Gas Industry Asia Market Research Study.”