DUBLIN, May 12, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Oilfield Communications Market by Solution, Communication Network Technology (Cellular Communication, VSAT, Fiber Optic, Microwave, and Tetra Network), Field Site, Service, and Region - Global Forecast to 2022" report to their offering.
Forecasts suggest the oilfield communications market to grow from USD 3.05 Billion in 2017 to USD 4.46 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.9%
Integration of departments in the oil & gas industry and increasing significance of cyber security are some of the driving factors of the market.
The objectives of the report are to define, describe, and forecast the oilfield communications market size on the basis of solutions, communication network technologies, services, field sites, and regions. Based on the solutions in oilfield communications market, M2M communication is the fastest growing market that helps in driving the oilfield communication market during the forecast period. This is due to the solution that allows quick exchange of information without any data loss.
The fleet management communication and pipeline Supervisory Control and Data Acquisition (SCADA) have the largest market share in the oilfield communications solution market during the forecast period. The market share is expected to grow due to the adoption of advanced communication solutions and increasing investment in cost-effective digital oilfield solutions by the oil & gas industry.
In the oilfield communications network technology market, the microwave communication network segment is expected to grow at the highest rate whereas VSAT communication network is the second fastest growing market during the forecast period. The market share is expected to grow due to an increase in the cyber-attacks that could lead to the loss of information due to which there is a need for cyber security in the oil & gas industry.
In the oilfield communications services market, professional services segment is expected to grow at the highest rate as well as holds the largest market share during the forecast period. Based on field site, offshore communication is expected to grow at the highest rate in the oilfield communication market while onshore communication is expected to have the largest market size during the forecast period.
North America is expected to hold the largest market share in the oilfield communications market during the forecast period. North America is the pioneer in this market and is expected to grow at a highest rate as it is the largest oil and gas producer with companies seeking advanced digital communication solutions for their onshore and offshore field operations.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Oilfield Communications Market Analysis, By Solution
8 Oilfield Communications Market Analysis, By Communication Network Technology
9 Oilfield Communications Market Analysis, By Field Site
10 Oilfield Communications Market Analysis, By Service
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- ABB Ltd
- Airspan Networks, Inc.
- Alcatel-Lucent S.A.
- Baker Hughes Incorporated
- Ceragon Networks Ltd.
- Commscope, Inc.
- Commtel Networks Pvt. Ltd.
- Huawei Technologies Co. Ltd.
- Hughes Network Systems LLC
- Inmarsat PLC
- Rad Data Communications, Inc.
- Rignet, Inc.
- Siemens AG
- Speedcast International Limited
- Tait Communications
For more information about this report visit http://www.researchandmarkets.com/research/mlqfpc/oilfield
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SOURCE Research and Markets