Digital Oilfield Market Size, Growth, Analysis, Outlook and Share by 2019 – Trends, Outlook Opportunities and Forecast to 2024

Market Study Report Provides A Detailed Overview Of Digital Oilfield Market With Respect To The Pivotal Drivers Influencing The Revenue Graph Of This Business Sphere. The Current Trends Of Digital Oilfield Market In Conjunction With The Geographical Landscape, Demand Spectrum, Remuneration Scale, And Growth Graph Of This Vertical Have Also Been Included In This Report.

Executive Summary

The Global Digital Oilfield Market Size, Share was valued at USD 23,235.15 Million in the year 2018. Growing Exploration & Production (E&P) activities across the globe, exploration of shale resources as well as CAPEX improvement in upstream sector, technological advancements coupled with the rising demand for reduction in production costs as well as growing safety concerns are the major factors impelling the market growth. Further, environmental benefits include reduction in CO2 emission and avoiding oil spills which has been propelling the digital oilfield market.

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Global Digital Oilfield market has gained importance as increasing consumption requirement influences the exploration of offshore oilfields using digital technologies like Big Data, IIoT (Industrial Internet of Things), SCADA system, sensors, real-time data analysis, robots and drones. These markets are influenced by many factors including fluctuating crude oil and natural gas prices, changing consumer preferences, growing concern to reduce greenhouse emission and the overall strength of the economy.

Based on the End Process, the Production Optimization is estimated to account for the largest share over the forecast period. It includes measuring, modelling, analyzing and prioritizing functions to implement in a well or reservoir to improve its productivity.

Among the regions, Americas currently leads the Digital Oilfield market owing to considerable investments planned in offshore deep water and ultra-deep water drilling activities and growing number of oil and gas wells. Moreover, countries like China, Russia, Saudi Arabia, Iran are expected to grow faster owing to increased investment in the upstream sector.

Scope of the Report

Global Digital Oilfield Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)

  • Digital Oilfield Market – Size, Growth, Forecast
  • Analysis by Technology: Hardware, Software & Services, Data Storage Solutions
  • Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others
  • Analysis by Application: Offshore, Onshore

Regional Digital Oilfield Market – Americas, Europe, APAC, MEA (Actual Period: 2014-2018, Forecast Period: 2019-2024)

  • Digital Oilfield Market – Size, Growth, Forecast
  • Analysis by Technology: Hardware, Software & Services, Data Storage Solutions
  • Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others
  • Analysis by Application: Offshore, Onshore

Country Analysis – U.S., Canada, Mexico, Russia, Norway, United Kingdom, India, China, Saudi Arabia, Iran (Actual Period: 2014-2018, Forecast Period: 2019-2024)

  • Digital Oilfield Market – Size, Growth, Forecast
  • Analysis by Technology: Hardware, Software & Services, Data Storage Solutions
  • Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others
  • Analysis by Application: Offshore, Onshore

Other Report Highlights

  • Competitive Landscape
  • Leading Companies
  • Market Dynamics – Drivers and Restraints.
  • Market Trends
  • Porter Five Forces Analysis.
  • SWOT Analysis.
  • Company Analysis – Kongsberg Gruppen, Schlumberger, Halliburton, Weir Group, National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International, Weatherford International.

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Table of Contents:

  1. Report scope & Methodology

1.1 Scope of the Report

1.2 Research Methodology

1.3 Executive Summary

  1. Strategic Recommendations

2.1 Ongoing Collaborations including joint ventures, mergers and acquisitions to expand the business

2.2 Contribution in Research and Development activities to expand the implementation of digitalization in oilfields.

  1. Global Oil & Gas Industry Outlook
  1. Global Digital Oilfield Market: Sizing and Forecast

4.1 Market Size, By Value, Year 2014-2024

  1. Global Digital Oilfield Market Segmentation By Technology (By Value)

5.1 Competitive Scenario of Global Digital Oilfield: By Technology

5.2 Hardware – Market Size and Forecast (2019-2024)

5.3 Software & Services – Market Size and Forecast (2019-2024)

5.4 Data Storage Solutions – Market Size and Forecast (2019-2024)

  1. Global Digital Oilfield Market Segmentation By End-Process (By Value)

6.1 Competitive Scenario of Global Digital Oilfield: By End Process

6.2 Reservoir Optimization – Market Size and Forecast (2019-2024)

6.3 Production Optimization – Market Size and Forecast (2019-2024)

6.4 Drilling Optimization – Market Size and Forecast (2019-2024)

6.5 Others – Market Size and Forecast (2019-2024)

  1. Global Digital Oilfield Market Segmentation By Application (By Value)

7.1 Competitive Scenario of Global Digital Oilfield: By Application

7.2 Offshore Application – Market Size and Forecast (2019-2024)

7.3 Onshore Application – Market Size and Forecast (2019-2024)

  1. Global Digital Oilfield Market: Regional Analysis

8.1 Competitive Scenario of Global Digital Oilfield: By Region

  1. Americas Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)

9.1 Americas Digital Oilfield Market: Size and Forecast (2019-2024)

9.2 Americas Digital Oilfield Market – Prominent Companies

9.3 Market Segmentation By Technology (Hardware, Software & Services, data Storage Solutions)

9.4 Market Segmentation By End-Process (Reservoir Optimization, Production Optimization, Drilling Optimization, Others)

9.5 Market Segmentation By Application (Offshore, Onshore)

9.6 Americas Digital Oilfield Market: Country Analysis

9.7 Market Opportunity Chart of Americas Digital Oilfield Market – By Country, By Value (Year-2024)

9.8 Competitive Scenario of Americas Digital Oilfield: By Country

9.9 United States Digital Oilfield Market: Size and Forecast (2019-2024)

9.10 United States Digital Oilfield Market Segmentation By Technology, End-Process, Application

9.11 Canada Digital Oilfield Market: Size and Forecast (2019-2024)

9.12 Canada Digital Oilfield Market Segmentation By Technology, End-Process, Application

9.13 Mexico Digital Oilfield Market: Size and Forecast (2019-2024)

9.14 Mexico Digital Oilfield Market Segmentation By Technology, End-Process, Application

9.15 Rest Of Americas Digital Oilfield Market: Size and Forecast (2019-2024)

9.16 Rest Of Americas Digital Oilfield Market Segmentation By Technology, End-Process, Application

  1. Europe Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)

10.1 Europe Digital Oilfield Market: Size and Forecast (2019-2024)

10.2 Europe Digital Oilfield Market – Prominent Companies

10.3 Market Segmentation By Technology (Hardware, Software & Services, data Storage Solutions)

10.4 Market Segmentation By End-Process (Reservoir Optimization, Production Optimization, Drilling Optimization, Others)

10.5 Market Segmentation By Application (Offshore, Onshore)

10.6 Europe Digital Oilfield Market: Country Analysis

10.7 Market Opportunity Chart of Europe Digital Oilfield Market – By Country, By Value (Year-2024)

10.8 Competitive Scenario of Europe Digital Oilfield: By Country

10.9 Russia Digital Oilfield Market: Size and Forecast (2019-2024)

10.10 Russia Digital Oilfield Market Segmentation By Technology, End-Process, Application

10.11 Norway Digital Oilfield Market: Size and Forecast (2019-2024)

10.12 Norway Digital Oilfield Market Segmentation By Technology, End-Process, Application

10.13 United Kingdom Digital Oilfield Market: Size and Forecast (2019-2024)

10.14 United Kingdom Digital Oilfield Market Segmentation By Technology, End-Process, Application

10.15 Rest Of Europe Digital Oilfield Market: Size and Forecast (2019-2024)

10.16 Rest Of Europe Digital Oilfield Market Segmentation By Technology, End-Process, Application

  1. Asia Pacific Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)

11.1 Asia Pacific Digital Oilfield Market: Size and Forecast (2019-2024)

11.2 Asia Pacific Digital Oilfield Market – Prominent Companies

11.3 Market Segmentation By Technology (Hardware, Software & Services, data Storage Solutions)

11.4 Market Segmentation By End-Process (Reservoir Optimization, Production Optimization, Drilling Optimization, Others)

11.5 Market Segmentation By Application (Offshore, Onshore)

11.6 Asia Pacific Digital Oilfield Market: Country Analysis

11.7 Market Opportunity Chart of Asia Pacific Digital Oilfield Market – By Country, By Value (Year-2024)

11.8 Competitive Scenario of Asia Pacific Digital Oilfield: By Country

11.9 China Digital Oilfield Market: Size and Forecast (2019-2024)

11.10 China Digital Oilfield Market Segmentation By Technology, End-Process, Application

11.11 India Digital Oilfield Market: Size and Forecast (2019-2024)

11.12 India Digital Oilfield Market Segmentation By Technology, End-Process, Application

11.13 Rest Of Asia Pacific Digital Oilfield Market: Size and Forecast (2019-2024)

11.14 Rest Of Asia Pacific Digital Oilfield Market Segmentation By Technology, End-Process, Application

  1. Middle East & Africa Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)

12.1 Middle East & Africa Digital Oilfield Market: Size and Forecast (2019-2024)

12.2 Middle East & Africa Digital Oilfield Market – Prominent Companies

12.3 Market Segmentation By Technology (Hardware, Software & Services, data Storage Solutions)

12.4 Market Segmentation By End-Process (Reservoir Optimization, Production Optimization, Drilling Optimization, Others)

12.5 Market Segmentation By Application (Offshore, Onshore)

12.6 Middle East & Africa Digital Oilfield Market: Country Analysis

12.7 Market Opportunity Chart of Middle East & Africa Digital Oilfield Market – By Country, By Value (Year-2024)

12.8 Competitive Scenario of Middle East & Africa Digital Oilfield: By Country

12.9 Saudi Arabia Digital Oilfield Market: Size and Forecast (2019-2024)

12.10 Saudi Arabia Digital Oilfield Market Segmentation By Technology, End-Process, Application

12.11 Iran Digital Oilfield Market: Size and Forecast (2019-2024)

12.12 Iran Digital Oilfield Market Segmentation By Technology, End-Process, Application

12.13 Rest Of MEA Digital Oilfield Market: Size and Forecast (2019-2024)

12.14 Rest Of MEA Digital Oilfield Market Segmentation By Technology, End-Process, Application

  1. Global Digital Oilfield Market Dynamics

13.1 Global Digital Oilfield Market Drivers

13.2 Global Digital Oilfield Market Restraints

13.3 Global Digital Oilfield Market Trends

  1. Market Attractiveness and Strategic Analysis

14.1 Market Attractiveness

14.1.1 Market Attractiveness Chart of Global Digital Oilfield Market – By Technology (Year 2024)

14.1.2 Market Attractiveness Chart of Global Digital Oilfield Market – By End-Process (Year 2024)

14.1.3 Market Attractiveness Chart of Global Digital Oilfield Market – By Application (Year-2024)

14.1.4 Market Attractiveness Chart of Global Digital Oilfield Market – By Region, By Volume, (Year-2024)

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Digital Oilfield Market Evolving Technology, Segmentation and Industry Analysis 2019 to 2026

MarketStudyReport.com offers 2019 report on Global Digital Oilfield Market that evaluates industry growth trends through historical data and estimates prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2026.

Global Digital Oilfield Market is valued approximately USD 22.8 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2019-2026. The Digital oilfield market is on the surging trend considering the global scenario.

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The regional analysis of global Digital Oilfield Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the novel technological advancements in the digital oilfield and enhance return on investment in the digital oilfield sector in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Owing to the surging need from oil & gas operators to upgrade production region.

For instance, January 2019, Osprey Informatics (a provider of intelligent monitoring solutions for industrial operations) Secured about $3.75 million investment led by the Evok innovations and Shell venture LLC. & InterGen capital towards development of intelligent visual monitoring platform including methane detection.

However, delay in decision making process due to deploying several analytic tools along with cybersecurity threat are acting as restraining factors for the growth and development of digital oilfield market.

The Digital oilfield market is primarily driven owing to novel technological advancements precisely in the digital oilfield, surging return on investment in the digital oilfield, introduction of digital trends in digital oilfield and enhanced need from oil & gas operators to upgrade production from mature wells on the global scenario.

The Digital oilfield provided advantages which precisely include optimized production rate of hydrocarbons, environmental protection and ease of finding reserves along with exploiting them to the full optimization and utilization.

The Digital oilfield is referred as the automation of upstream, midstream & downstream oilfield activities. The Digital oilfield is considered as the part of energy sector which has incorporated several advanced software along with data analysis techniques into its operations to offer better outputs & enhance the profitability of the production process.

Major market player included in this report are:

  • Qinetiq Group PLC
  • Halliburton Co.
  • Schlumberger NV
  • Baker Hughes, Inc.
  • Future Fibre Technologies Ltd.
  • Northrop Grumman Corp.
  • Fotech Solutions Ltd
  • Omnisens Sa
  • Silixa Ltd
  • Ziebel as

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Fiber Type:

  • Single Mode Fiber
  • Multimode Fiber

By End-User:

  • Oil & Gas
  • Military
  • Infrastructure
  • Transportation
  • Others

By Region:

  • North America
  • S.
  • Canada
  • Europe
  • UK
  • Germany
  • Asia Pacific
  • China
  • India
  • Japan
  • Latin America
  • Brazil
  • Mexico
  • Rest of the World

Furthermore, years considered for the study are as follows:

  • Historical year – 2016, 2017
  • Base year – 2018
  • Forecast period – 2019 to 2026

Target Audience of the Global Digital Oilfield Market in Market Study:

  • Key Consulting Companies & Advisors
  • Large, medium-sized, and small enterprises
  • Venture capitalists
  • Value-Added Resellers (VARs)
  • Third-party knowledge providers
  • Investment bankers
  • Investors

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Table of Content:

Chapter 1.       Executive Summary

1.1.      Market Snapshot

1.2.      Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)

1.2.1.   Digital Oilfield Market, by Region, 2017-2026 (USD Billion)

1.2.2.   Digital Oilfield Market, by Solutions, 2017-2026 (USD Billion)

1.2.3.   Digital Oilfield Market, by Processes, 2017-2026 (USD Billion)

1.2.4.   Digital Oilfield Market, by Application, 2017-2026 (USD Billion)

1.3.      Key Trends

1.4.      Estimation Methodology

1.5.      Research Assumption

Chapter 2.       Global Digital Oilfield Market Definition and Scope

2.1.      Objective of the Study

2.2.      Market Definition & Scope

2.2.1.   Scope of the Study

2.2.2.   Industry Evolution

2.3.      Years Considered for the Study

2.4.      Currency Conversion Rates

Chapter 3.       Global Digital Oilfield Market Dynamics

3.1.      Digital Oilfield Market Impact Analysis (2018-2026)

3.1.1.   Market Drivers

3.1.2.   Market Challenges

3.1.3.   Market Opportunities

Chapter 4.       Global Digital Oilfield Market Industry Analysis

4.1.      Porter’s 5 Force Model

 

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Digital Oilfield Market Report Research and Global Outlook 2020 to 2024: National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International

Global Digital Oilfield Market Report 2020 is a comprehensive, professional report provides a detailed overview of major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the global market. The report provides with CAGR value changeability during the forecast period for the market. The report covered key aspects like the existing market conditions, the pace of growth and CAGR in the forecast period.

The Global Digital Oilfield Market was valued at USD 23,235.15 Million in the year 2018.

(Avail a Up-to 20% discount on this report)

Click the link to get a free Sample Copy of the Report:

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Top Leading Companies are: Kongsberg Gruppen, Schlumberger, Halliburton, Weir Group, National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International, Weatherford International.

Analysis by Technology: Hardware, Software & Services, Data Storage Solutions

Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others

Analysis by Application: Offshore, Onshore

Regional and Country-level Analysis Market: 

The report offers an exhaustive geographical analysis of the global Digital Oilfield market, covering important regions, viz, Americas, Europe, APAC, MEA. It also covers key countries (regions), viz, U.S., Canada, Mexico, Russia, Norway, United Kingdom, India, China, Saudi Arabia, Iran, etc.

Among the regions, Americas currently leads the Digital Oilfield market owing to considerable investments planned in offshore deep water and ultra-deep water drilling activities and growing number of oil and gas wells. Moreover, countries like China, Russia, Saudi Arabia, Iran are expected to grow faster owing to increased investment in the upstream sector.

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Executive Summary:

Global Digital Oilfield market has gained importance as increasing consumption requirement influences the exploration of offshore oilfields using digital technologies like Big Data, IIoT (Industrial Internet of Things), SCADA system, sensors, real-time data analysis, robots and drones. These markets are influenced by many factors including fluctuating crude oil and natural gas prices, changing consumer preferences, growing concern to reduce greenhouse emission and the overall strength of the economy.

Based on the End Process, the Production Optimization is estimated to account for the largest share over the forecast period. It includes measuring, modelling, analyzing and prioritizing functions to implement in a well or reservoir to improve its productivity.

Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Digital Oilfield Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

Research uses a bottom-up approach to assess the overall size of the market. Data from different industries and end-user industries and their applications across different product types are recorded and forecast during the forecast period. These segments and sub-segments are documented by industry experts and experts, as well as company representatives, and by analyzing data from these segments and sub-segments over the last few years, Externally verified to gain market size.

Customization of the Report

The report can be further customized according to the clients specific research requirements. No additional charges will be added for limited additional research.

We also offer customization on reports based on specific client requirement:

1-Free country level analysis for any 5 countries of your choice

2- Free Competitive analysis of any 5 key market players.

3- Free 40 analyst hours to cover any other data points.

About Us:

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Us: Digital Oilfield

Irfan Tamboli (Head of Sales) – Market Insights Reports

Phone: + 1704 266 3234 | +91-750-707-8687

sales@marketinsightsreports.com | irfan@marketinsightsreports.com

Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

At 5.2% CAGR, Digital Oilfield Market Size | Development Factors, Latest Opportunities and Forecast 2026

Market Study Report Provides A Detailed Overview Of Digital Oilfield Market With Respect To The Pivotal Drivers Influencing The Revenue Graph Of This Business Sphere. The Current Trends Of Digital Oilfield Market In Conjunction With The Geographical Landscape, Demand Spectrum, Remuneration Scale, And Growth Graph Of This Vertical Have Also Been Included In This Report.

Global Digital Oilfield Market is valued approximately USD 22.8 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2019-2026.

Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/2496534/?utm_source=marketwatch.com&utm_medium=ADS

The Digital oilfield market is on the surging trend considering the global scenario. The Digital oilfield is referred as the automation of upstream, midstream & downstream oilfield activities. The Digital oilfield is considered as the part of energy sector which has incorporated several advanced software along with data analysis techniques into its operations to offer better outputs & enhance the profitability of the production process. The Digital oilfield provided advantages which precisely include optimized production rate of hydrocarbons, environmental protection and ease of finding reserves along with exploiting them to the full optimization and utilization.

The Digital oilfield market is primarily driven owing to novel technological advancements precisely in the digital oilfield, surging return on investment in the digital oilfield, introduction of digital trends in digital oilfield and enhanced need from oil & gas operators to upgrade production from mature wells on the global scenario. For instance, January 2019, Osprey Informatics (a provider of intelligent monitoring solutions for industrial operations) Secured about $3.75 million investment led by the Evok innovations and Shell venture LLC. & InterGen capital towards development of intelligent visual monitoring platform including methane detection. However, delay in decision making process due to deploying several analytic tools along with cybersecurity threat are acting as restraining factors for the growth and development of digital oilfield market.

The regional analysis of global Digital Oilfield Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the novel technological advancements in the digital oilfield and enhance return on investment in the digital oilfield sector in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Owing to the surging need from oil & gas operators to upgrade production region.

Major market player included in this report are:

Qinetiq Group PLC

Halliburton Co.

Schlumberger NV

Baker Hughes, Inc.

Future Fibre Technologies Ltd.

Northrop Grumman Corp.

Fotech Solutions Ltd

Omnisens Sa

Silixa Ltd

Ziebel as

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Fiber Type:

Single Mode Fiber

Multimode Fiber

By End-User:

Oil & Gas

Military

Infrastructure

Transportation

Others

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017

Base year – 2018

Forecast period – 2019 to 2026

Target Audience of the Global Digital Oilfield Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/2496534/?utm_source=marketwatch.com&utm_medium=ADS

About Us:

Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:

Market Study Report LLC

4 North Main Street,

Selbyville, Delaware 19975

USA

Phone: 1-302-273-0910

US Toll Free: 1-866-764-2150

Email: sales@marketstudyreport.com

Website: https://www.marketstudyreport.com

Blog: https://www.marketstudyreport.com/blog/

3 noteworthy trends that may fuel digital oilfield market outlook through 2025

The digital oilfield market is set to witness exponential growth in the wake of increasing oil production & exploration activities and recovering crude oil prices. Ongoing technological innovations and the availability of digitalized solutions like cloud computing, Internet of Things (IoT) and advanced analytics could optimize the production process of oilfields.

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Key participants functioning across the digital oilfield market include Halliburton, Schlumberger, Weatherford, ABB, Rockwell, Siemens, General Electric, National Oil Varco, Kuwait Oil Company, Accenture, Schneider, Infosys and Intel.

Along with this, numerous advancements made through Industry 4.0 or Fourth Industrial Revolution alongside respective federal measures to improve the abilities of domestic technology could stimulate the digital oilfield industry outlook. On this note, Global Market Insights, Inc., predicts that the digital oilfield market may exceed USD 39 billion by 2025.

Rise in number of mature oilfields coupled with a mounting need for economic recovery of hydrocarbon resources is aiding product penetration. Regions like Russia and Romania are expected to see an exponential rise in system deployment pertaining to proliferating number of mature oilfields. Moreover, numerous advanced oil recovery systems being developed could revive the dwindling oil production.

As of now, companies like ABB, Weatherford, Halliburton, Schlumberger, Rockwell, Siemens, National Oil Varco, Intel, General Electric, Accenture, Infosys Schneider and Kuwait Oil Company are driving new strides in the digital oilfield market.

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Mentioned below are some of the ongoing developments in the digital oilfield industry:
Optimizing oil recovery methods:
Rising adoption of pioneering solutions like reservoir management and well testing facilities is helping operators to save a fortune on oil recovery methods, giving them a cost-effective alternative from expensive recovery processes.

Industrial developments like expanding rig counts and discoveries of new oilfields could massively advance digital oilfield industry outlook. In 2018, the number of rig counts in the U.S. went up to 945 from 900 in 2017.

Escalating demand from the Middle East:
Heavy reliance on oil & gas production and trade is estimated to drive the Middle East digital oilfield industry growth. The sector’s business operation is increasingly driven by technological advancements. Middle Eastern countries like Saudi Arabia and Kuwait are currently making massive investments in digitalization.

In order to maximize their return and advance oil recovery, companies like Abu Dhabi National Oil Company, Kuwait Oil Company and Saudi Aramco are employing new technologies. Taking 2019 for instance, the Kuwait Oil Company had initiated phase two of its KwIF project. Reportedly, the project intends to integrate its operations with modelling, field assets, and real-time surveillance.

Advancements in drilling operations:

Surging need for high capital investments and strategically planned drilling processes could fuel new demand in the digital oilfield market. Essential factors like low oil prices, increased competition, and well complexity may play a pivotal role in boosting the adoption of latest drilling technologies. Moreover, its capability to reduce drilling risk, nonproductive time as well as improve overall work safety may impel digital oilfield industry share.

Digital Oilfield Market 2019 Strategic Assessments – Benchmarking, Emerson, BHGe, Schlumberger, ABB, Weatherford, Siemens, National Oilwell Varco

The global Digital Oilfield market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 5.2% in the forecast period of 2020 to 2025 and will expected to reach USD xx million by 2025, from USD xx million in 2019.

The Digital Oilfield Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Digital Oilfield Market: Benchmarking, Emerson, BHGe, Schlumberger, ABB, Weatherford, Siemens, National Oilwell Varco, Halliburton, Rockwell, Digi International, EDg, Honeywell, Petrolink, Pason, CGg, Kongsberg, OleumtecH, Redline, IHS Markit, Katalyst and others.

Market segmentation

Digital Oilfield market is split by Type and by Application. For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Global Digital Oilfield Market Split by Product Type and Applications:

This report segments the market on the basis of Types are:

Reservoir Optimization
Drilling Optimization
Production Optimization
Others

On the basis of Application, the market is segmented into:

Onshore
Offshore

Regional Analysis For Digital Oilfield Market:

For comprehensive understanding of market dynamics, the global Digital Oilfield market is analyzed across key geographies namely:

North America (United States, Canada and Mexico)
Europe
(Germany, France, UK, Russia and Italy)
Asia-Pacific
(China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa
(Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Digital Oilfield Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger and acquisitions along with trending innovation and business policies are reviewed in the report. The report contains basic, secondary and advanced information pertaining to the Market global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2019–2024.

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Following are major Table of Content of Digital Oilfield Market:

– Global Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Global Market competition by top Players

– Analysis by Regions

– Consumption by Regions

– Consumption, By Types, Revenue and Market share by Types

– Consumption, By Applications, Market share (%) and Growth Rate by Applications

– Complete profiling and analysis of Players

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Global Market Effect Factors Analysis

– Global Market Forecast

– Global Market Research Findings and Conclusion, Appendix, methodology and data source

Finally, all aspects of the Global Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis.

We Offer Customization On Report Based On Specific Client Requirement:

– Free country Level analysis for any 5 countries of your choice.

– Free Competitive analysis of any 5 key market players.

– Free 40 analyst hours to cover any other data point.

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