Frost & Sullivan: Southeast Asian Automation Services Market Benefits from the Growth of the Oil & Gas Industry

Frost & Sullivan: Southeast AsianFrost & Sullivan: Southeast Asian Automation Services Market Benefits from the Growth of the Oil & Gas Industry PR Newswire SINGAPORE, March 27, 2014 - Evolving demands create opportunities for vendors offering cutting- edge services The abundance of critical resources such as coal and oil in Southeast Asia has made the oil & gas industry one of the biggest markets for automation services. The rapid development of this industry has triggered several changes. Oil and gas companies constantly have to invest in integrated automation technology for better transparency, as the regulations related to performance and carbon emission are becoming increasingly stringent. New analysis from Frost & Sullivan, Southeast Asia Automation Services Market, finds that the market earned revenues of US$328.4 million in 2013 and estimates this to reach US$508.1 million in 2018, with most of the growth expected from developing countries such as Indonesia and Thailand. Apart from oil & gas, investors are also evincing keen interest in chemicals and petrochemicals, and water industries, indicating considerable opportunities for automation vendors in these sectors. Frost & Sullivan expects retrofits to play a vital role in future, as companies look to meet large-scale demand.