Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Digital Oilfield Market is expected to generate a revenue of USD 38.04 Billion by 2030, Globally, at 5.31% CAGR: Verified Market Research®

This image opens in the lightbox

News provided by

Verified Market Research

13 Sep, 2022, 15:15 GMT

Share this article

Share toX

Share this article

Share toX

The market is expanding primarily due to increased demand for mature oil and gas assets as well as developments in technology. The implementation of digital oilfield services in many industries is another factor fueling market expansion.

JERSEY CITY, N.J., Sept. 13, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Digital Oilfield Market" By Application (Onshore, Offshore), By Solution (Hardware Solution, Software & Service Solution), By Process (Safety Management, Reservoir Optimization), and By Geography.

Verified Market Research conducted a high-quality study that revealed the size of the global digital oilfields market was estimated at USD 23.91 billion in 2022 and is expected to reach USD 38.04 billion by 2030, increasing at a CAGR of 5.31% from 2023 to 2030.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=5739

Browse in-depth TOC on "Digital Oilfield Market"

202 - Pages

126 – Tables

37 – Figures

Global Digital Oilfield Market Overview

In order to reduce the risk involved with oil and gas operations, boost productivity, and save costs, a combination of business process management approaches and the use of digital technology to connect tasks are referred to as "digital oilfields." It makes use of cutting-edge software and data analytics techniques to boost output. Some of the cutting-edge elements include cloud computing, network sensors, artificial intelligence, and big data analytics. In the oil and gas industries, it is used for a variety of purposes.

The market is expanding primarily due to increased demand for mature oil and gas assets as well as developments in technology. The adoption of digital oil services in various industries is another factor fueling the market rise. Oil prices fluctuate wildly and are unknown. Both the price of E&P and the demand for oil are growing. Because of the digital oilfield, high production efficiency is attained and operating expenses are reduced. The development of seismic imaging, IoT, AI, and ML is contributing to the expansion and increased use of the digital oilfield market. It is thus expected that operators' focus will shift to digital oilfield systems.

The global digital oilfield market is segmented on the basis of application into offshore and onshore, the offshore segment has the largest market share. On the other hand, by solutions, the market is segmented into hardware solutions, software and services, and data storage. Software and services are anticipated to have a good CAGR. Based on process, the market is bifurcated into safety management, reservoir optimization, production optimization, drilling optimization, and others. Production optimization held the largest market share.

Key Developments

  • In Sept 2021, Schlumberger and NOV launched a partnership to improve oil and gas operators' and drilling contractors' adoption of automated drilling technologies. This collaboration with NOV combines the rig automation interface with drilling automation to help corporations and drilling construction firms achieve improved performance.
  • In Oct 2020, ForeSite Sense is a sophisticated reservoir monitoring technology developed by Weatherford International that displays real-time data and critical down-hole analysis to uncover profit from pressure, temperature, and stream.
  • In June 2019, Baker Hughes and C3.ai announced their collaboration to deliver digital transformation strategies. C3. ai's artificial intelligence solutions and software are combined with BH's experienced and long-standing oil and gas assets under the JV agreement.

Key Players

The major players in the market are Weatherford, National Oilwell Varco, Schlumberger, Halliburton, BHGE, ABB, Emerson, Rockwell, Siemens AG, CGG, Kongsberg.

Verified Market Research has segmented the Global Digital Oilfield Market On the basis of Application, Solution, Process, and Geography.

  • Digital Oilfield Market, By Application
    • Onshore
    • Offshore
  • Digital Oilfield Market, By Solution
    • Hardware Solution
    • Software & Service Solutions
    • Data Storage Solutions
  • Digital Oilfield Market, By Process
    • Safety Management
    • Reservoir Optimization
    • Production Optimization
    • Drilling Optimization
    • Others
  • Digital Oilfield Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

Hazardous Location Lighting Market By Type (LED, Fluorescent, Incandescent), By Application (Oil & Gas, Mining & Steel, Railway), By Geography, And Forecast

Industrial Actuators Market By Product (Linear Actuators, Rotary Actuators), By System (Mechanical Actuators, Hydraulic Actuators), By End-User (Oil And Gas, Chemical), By Geography, And Forecast

Industrial Automation Oil And Gas Market By Process (Upstream Process, Midstream Process, Downstream Process), By Solution (Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC)), By Instruments (Field Instruments, Control Valves), By Geography, And Forecast

Oilfield Corrosion Inhibitor Market By Product (Organic Corrosion Inhibitor, Inorganic Corrosion Inhibitors), By Application (Oilfield Drilling System, Oilfield Gathering and Transportation Systems) By Geography, And Forecast

9 Largest Oil And Gas Companies, in the USA, solving energy-related problems

Visualize Digital Oilfield Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg

Modal title

Also from this source

Automotive Heat Exchanger Market is expected to generate a revenue of USD 43.65 Billion by 2031, Globally, at 6.45% CAGR: Verified Market Research®

Automotive Heat Exchanger Market is expected to generate a revenue of USD 43.65 Billion by 2031, Globally, at 6.45% CAGR: Verified Market Research®

The Global Automotive Heat Exchanger Market Size is projected to grow at a CAGR of 6.45% from 2024 to 2031, according to a new report published by...

Data Center Colocation Market is expected to generate a revenue of USD 13.88 Billion by 2032, Globally, at 13.22% CAGR: Verified Market Research®

Data Center Colocation Market is expected to generate a revenue of USD 13.88 Billion by 2032, Globally, at 13.22% CAGR: Verified Market Research®

The Global Data Center Colocation Market Size is projected to grow at a CAGR of 13.22% from 2026 to 2032, according to a new report published by...

More Releases From This Source

Explore

Utilities

Utilities

Oil & Energy

Oil & Energy

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.