Rising energy needs are compelling oil and gas companies in Southeast Asia (SEA) as well as Australia and New Zealand (ANZ) to decrease operating costs and improve efficiency through automation and software solutions. With a large number of oil and gas-based projects in the pipeline, the SEA and ANZ automation and software solutions market is expected to continue its steady growth.
New analysis from Frost & Sullivan (industrialautomation.frost.com), SE Asia and ANZ Automation and Software Solutions Market for the Oil & Gas Industry, finds that the market earned revenues of over US$282.1 million in 2011 and estimates this to reach US$447.8 million in 2018.
Low-cost manufacturing facilities in developing economies have enabled automation solution providers to establish a global supply chain network and expand their market in SEA.
"The demand for energy efficiency in emerging countries such as Indonesia, Thailand, and Malaysia has increased uptake of automation and software solutions," said Frost & Sullivan Research Analyst Vineeth Purushotham. "Distributed control systems are the most popular among oil and gas companies in both SEA and ANZ."
Energy corporations tend to opt for a single solution provider to meet all their automation requirements. Therefore, automation vendors look to provide one-stop solutions and expand their product base through strategic mergers and acquisitions, which intensifies competition.
Another challenge for vendors is the integration of advanced information technologies and modern control systems into the automation platform. The lack of personnel with control system and IT skills in end-user firms further hinders the installation and maintenance of automation systems.
"To maintain efficiency, oil and gas enterprises require engineers with both control systems knowledge and IT skills," noted Purushotham. "Multinational automation providers should train automation engineers in-house and work with universities to create specific, industry-related courses."
Manufacturing execution systems, which effectively manage resources to improve plant efficiency and productivity, will generate additional revenues.
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
SE Asia and ANZ Automation and Software Solutions Market for the Oil & Gas Industry is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Automation & Software Solutions for Power Industry, North American Submersible Pump Market, and Middle East Advanced Process Control (APC) and Process Optimization (PO) Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on "the next big thing" | Register: Gain access to visionary innovation
SE Asia and ANZ Automation and Software Solutions Market for the Oil & Gas Industry / P6E5-10
Contact: Jessie Loh, Corporate Communications Asia Pacific
P: +65 6890 0942 / F: +65 6890 0988 - E: jessie.loh[.]frost.com.