However, the market faces major challenges in the form of Russia’s unstable economic and political landscape and end-user perceptions of ACS (automation and control solutions) being non-critical in the manufacturing process.
New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Strategic Analysis of Automation and Control Solutions in the Russian Oil and Gas Industry, finds that the market earned revenues of $1,107.9 million in 2011 and estimates this to reach $1,822.0 million in 2016. The research covers six major segments: programmable logic controller (PLC), distributed control system (DCS), safety instrumented systems (SIS), supervisory control and data acquisition (SCADA), industrial asset management (IAM), and manufacturing execution system (MES).
As demand for oil and gas soars, oil and gas companies have started implementing ACS to make the industrial process more effective and save on production costs.
As a result of such trends, oil and gas customers have started to recognise ACS as a strategic investment. At the same time, one of the major restraints to market expansion has been the end-user perception of these solutions being non-critical in the manufacturing process.
On their part, vendors need to undertake marketing activities to generate greater awareness about newer technological offerings and their benefits. Oil and gas companies need to be educated about the basic features of ACS and the advantages and opportunities that it can offer.
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