ReportsnReports Offers “Digital Oilfield Market Research Report”. The key players in the digital oilfield market include integrators such as Schlumberger (US), Weatherford (Switzerland), Halliburton(US), BHGE (US), National Oilwell Varco (US), and equipment providers such as ABB (Switzerland), Emerson (US), Rockwell(US), and Siemens (Germany).
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The digital oilfield market is projected to grow from an estimated USD 21.14 billion in 2017 to USD 27.10 billion by 2022, at a CAGR of 5.09%, from 2017 to 2022. Increasing adoption of digitization techniques in oil & gas fields for enhancing the production outputs and optimizing workflow process has enabled the companies to meet the production targets and eliminate non productive time in oilfields.
Europe and North America are expected to be the largest markets for digital oilfield during the forecasted year. Data security and cyber threats are key pain points for oil field operate that restrain the growth of the market during the forecast year.
- Digital oilfield equipment manufacturing and integrator companies
- Consulting companies in the oil & gas sector
- Government and research organizations
- Oil & Gas Industry Forum
- State- or government-owned corporations
The hardware segment of the global digital oilfield market is expected to grow at a fast pace during the forecast period. The capital investment by oilfield operators toward technology enhancement and process automation enables the companies to eliminate non-productive time, optimize production and enhanced control, and monitor oil & gas fields.
Scope of the report:
- By Process
- Reservoir Optimization
- Drilling Optimization
- Production Optimization
- By Application
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- By Solutions
- Hardware Solutions
- Distributed Control System
- Supervisory Control & Data Acquisitions
- Smart Well
- Safety System
- Wireless Sensor
- Programmable Logic Controller
- Computer Equipment & Application
- Others (process automation manager and human-machine interaction)
- Software & Service Solutions
- IT Outsourcing
- IT servicing & Commissioning
- Collaborative Product Management
- Data Storage solutions
- Hardware Solutions
The Middle East is the largest market for digital oilfield, followed by North America and Asia Pacific. The region consists of major oil & gas producing countries such as Saudi Arabia, the UAE, Kuwait, Iraq, and Iran, which have some of the largest petroleum reserves in the world.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 55%, Tier 2- 25%, Tier 3- 20%
- By Designation: C-Level- 35%, D-Level- 30%, Others- 35%
- By Region: North America- 15%, Europe- 20%, Asia Pacific- 25%, South America- 10%, Middle East- 25%, and Africa- 5%
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The report provides a complete view of the digital oilfield market across the oil & gas industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as process, application, solutions, and region.
Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.