The oil and gas automation market share in Latin America is set to post an incremental growth of USD 179.76 million, accelerating at a CAGR of 3.66% during the forecast period. Technavio's research report provides a detailed understanding of the key players as well as their product portfolios and upcoming pipelines. These insights will enable marketers to gauge potential growth opportunities and thus design their business strategy.
Some of the major oil and gas automation market vendors in Latin America are ABB Ltd., Andritz AG, Emerson Electric Co., FURUKAWA Co. Ltd., General Electric Co., Honeywell International Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Wipro Ltd. View the Free Sample Report
The oil and gas automation market in Latin America is segmented by Product (SCADA, DCS, PLC, and MES) and Geography (Brazil, Mexico, Argentina, and Rest of Latin America ). The growing importance of big data analytics and IoT are the major oil and gas automation market trends in Latin America which will positively influence market growth.
Brazil led the market with 33% of the market growth set to originate from this region during the forecast period. Growing cybersecurity concerns is one of the challenges that will need to be overcome to drive growth. The research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
Growth in shale oil production is one of the primary factors driving the growth of the oil and gas automation market in Latin America. However, the growing cybersecurity concerns are hindering the oil and gas automation market growth in Latin America.
The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable marketers to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.