Product Code: RP-ID-10175461 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Energy & Power |
Report ID: 10175461
Market Overview:
Global Digital Oilfield Market - Analysis By Technology, End-Process, Application, By Region, By Country (2019 Edition): Opportunities and Forecast (2019-2024) - By Technology (Hardware, Software and Services, Data Storage Solutions), By End Process (Reservoir, Production and Drilling Optimization)
Executive Summary
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.
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.
Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
Kongsberg Gruppen, Schlumberger, Halliburton, Weir Group, National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International, Weatherford International.
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