A&S Market to Boom
End users are increasingly gravitating toward suppliers that can offer them superior overall satisfaction.
New analysis from Frost & Sullivan - “Customer Satisfaction Analysis for Automation and Software Solutions in the Southeast Asian Chemical and Petrochemical Industry”, examines numerous market parameters to gauge the end-user satisfaction levels on product quality, technical support, training, after-sales service, and delivery time. In addition to this, it also presents customer hot button analysis, brand familiarity analysis, purchase decision making, and source of information analysis.
Customers of A&S products have categorically asserted that quality is the most important purchase decision factor, followed by after-sales service and pricing. Apart from addressing their requirements, suppliers could also get a leg up from factors such as improvement in process efficiency, cost reduction, quality sustenance, retro-fitment as well as upgrading of systems, and environmental regulations.
A&S products are all set to experience a boom in demand with the oil and gas sector in the Southeast Asian region attracting growing interest from major oil and gas-consuming countries.
“Considering about 21.6% of the total A&S revenues are estimated to come from the chemical and petrochemical sector and with soaring energy demands (especially from India and China), the market is expected to boom,” said Nookala Vinod, senior analyst of Frost & Sullivan. “Many oil and gas companies have embarked on a cost-reduction strategy, and A&S products can reduce the total marginal variable costs of plants or refineries in the long term.”
Also, stringent environmental regulations and minimum safety requirements compel oil and gas companies to invest in state-of-the-art refining assets. These companies will rely on automation and control systems (ACSs) to help them mitigate many of the current environmental issues, many of which are their doing.
Suppliers will have to market the benefits of their products well if they are to break through the customer inertia toward adoption of new systems. End users tend to concentrate on daily production needs and do not see the need for a better or upgraded system. They are content with their legacy systems, which help them meet targets.
“Short-term goals prevail over long-term advantage,” observes Vinod. “However, this situation can be remedied once it is proven that automation solutions with advanced analytics techniques can help overcome some of the fundamental operational and human resources challenges faced by the industry.”
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