PUNE, India, Dec. 4, 2019 /PRNewswire/ -- The Global Digital Oilfield Market 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.
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.
Company Analysis - Kongsberg Gruppen, Schlumberger, Halliburton, Weir Group, National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International, Weatherford International.
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.
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Among the regions, Americas currently lead 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)
Regional Digital Oilfield Market - Americas, Europe, APAC, MEA (Actual Period: 2014-2018, Forecast Period: 2019-2024)
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
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Table of Contents:
- Report scope & Methodology
- Strategic Recommendations
- Global Oil & Gas Industry Outlook
- Global Digital Oilfield Market: Sizing and Forecast
- Global Digital Oilfield Market Segmentation By End-Process (By Value)
- Global Digital Oilfield Market Segmentation By Application (By Value)
- Global Digital Oilfield Market: Regional Analysis
- Americas Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)
- Europe Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)
- Asia Pacific Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)
- Middle East & Africa Digital Oilfield Market: Segmentation By Technology, End-Process, Application (2019-2024)
- Global Digital Oilfield Market Dynamics
- Market Attractiveness and Strategic Analysis
- Competitive Landscape
- Company Profiles (Business Description, Financial Analysis, Business Strategy)
Another Related Research Report:
Global Digital Oilfield Technology Market Growth (Status and Outlook) 2019-2024 - Digital oilfield technology is the integration of networking, communication, and automation with oilfield processes such as surveying, drilling, and production. Production optimization was the largest category in the market. This report presents a comprehensive overview, market shares and growth opportunities of Digital Oilfield Technology market by product type, application, key companies and key regions. The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Schlumberge, Halliburton Company, Baker Hughes, National Oilwell Varco, Weatherford International, Siemens, Honeywell International, Kongsberg Gruppen ASA, Emerson Electric, Petrolink International.
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