FORT WORTH, Texas, December 17, 2014 /PRNewswire/ --
The North America oilfield communication market report defines and segments the Oilfield Communication market in North America with analysis and forecast of revenue. This market is projected to reach $947.2 million by 2019 with a CAGR of 7.2% between 2014 and 2019.
Browse through the TOC of the North America Oilfield Communication Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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North America is home to two developed economies, the U.S. and Canada. The growing vehicular, domestic, and international air traffic in this region has led to the rapid increase in the oil consumption. In the U.S., the high standard of living has led to the increase in vehicular traffic. The leading players in oilfield exploration and production have growth opportunities in this region due to large consumption of oil. In order to set up onshore and offshore drilling activities, these companies would need real-time data communications to check the feasibility of the reserves. Moreover, they would prefer that end-to-end data transfer should be secure and should provide reliable information. All these factors are posing lucrative growth opportunities for the oilfield communication market in North America.
On the other hand, stringent governmental regulations have affected the growth of oilfield communication market in this region. The National Energy Board regulates the international and interprovincial aspects of oil and gas in Canada. The telecom systems operate under various strict laws, rules, guidelines, and memorandums. Thus, offshore telecommunication remains under intense scrutiny.
The North America Oilfield Communication Market is segmented on the basis of Solutions and Services. The solutions market is further segmented on the basis of Upstream Communication, Midstream Communication, and Downstream Communication. The services market is further segmented into professional services, cloud hosting services, and system integration services.
The report studies the market and presents expert insights with respect to the market trends, market size estimations, leading and emerging segments, and the competitive landscape of the market.
The Asia-Pacific Oilfield Communication Market is expected to grow from $355.0 million in 2014 to $454.6million by 2019, at a CAGR of 5.1%, for the given period. The expansion of the existing oil industry is a promising driver for the oil & gas communication market.
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