AN analysis by independent business information provider Visiongain indicates that the global oil and gas automation and control systems market will reach a value of $8.63 billion in 2013, with safety and optimisation of oil and gas processes driving expenditure.

According to Visiongain’s forecast, the global oil and gas automation and control systems market will record moderate and continuous growth over the next decade, as oil, gas and power companies try to increase productivity, reduce costs and improve their safety standards. Automation and control systems are used throughout the industry from oil and gas field operations, to production and processing plants, and distribution and retailing of petroleum products. Integrated monitoring and control systems raise efficiency, speed and performance of companies’ operations.

The lead analyst of The Oil & Gas Automation & Control Systems Market 2013-2023 report commented: “Oil and gas industry leaders are investing in automation and control systems to ensure that their facilities are running at maximum efficiency and at the highest safety standards.”