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    Digital Oilfield Market - Size, Share, Trend & Forecast Analysis

    Digital Oilfield Market - Size, Share, Trend & Forecast Analysis
    Report code - SROG117 Delivery - 2 Weeks
    Digital Oilfield Market Size, Share, Trend, Forecast, & Competitive Analysis.
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    Digital Oilfield Market Insights

    Digital Oilfield Market is likely to witness an impressive CAGR of 7.2% during the forecast period. The rising production activities in the Middle Eastern region, the prevalence of alternative reserves, and the increasing investments in offshore in Asia-Pacific are the factors that are bolstering the growth of the digital oilfield market globally.

    Digital Oilfield Market - Snapshot

    Growth

    7.2% for the next five years

    Major Process Type

    Production optimization

    Major Solutions Type

    Hardware solutions

    Dominant Application Type

    Onshore

    Region with the highest demand

    Europe

    Key Players

    Schlumberger Limited, Weatherford International, Halliburton Company, National Oilwell Varco Corporation, ABB Group, The Emerson Electric Company, Rockwell Automation, Inc., Siemens AG, Honeywell International Inc., and Digi International.

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    Market Share Analysis

    Digital Oilfield Market Share: By Process Type

    Based on the process type, the market is segmented as production optimization, drilling optimization, reservoir optimization, and others. The production optimization segment is estimated to lead the market in the coming five years. The real-time techniques for production optimization augment the recovery of oil and minimize the non-productive time.

    Digital Oilfield Market Share: By Solutions Type

    Based on the solutions type, the market is segmented as hardware solutions, software & service solutions, and data storage solutions. The hardware solutions segment is expected to grow at the fastest rate during the forecast period. Investments by oilfield operators towards technology enhancement and process mechanization are helping companies to eradicate non-productive time and scale-up production.

    Digital Oilfield Market Share: By Application Type

    Based on the application type, the market is segmented as onshore and offshore. The onshore segment is expected to lead the market in the coming five years. The market is driven by the large-scale oil & gas exploration activities in the Middle Eastern and the North American regions.

    Digital Oilfield Market Share: By Region

    In terms of regions, Europe is estimated to dominate the digital oilfield market in the coming five years. This growth is owing to the presence of large oilfields in the North Sea. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.   

    Digital Oilfield Market: Key Players

    Some of the digital oilfield manufacturers are Schlumberger Limited, Weatherford International, Halliburton Company, National Oilwell Varco Corporation, ABB Group, The Emerson Electric Company, Rockwell Automation, Inc., Siemens AG, Honeywell International Inc., and Digi International.

     

    Market Scope & segmentation

    Digital Oilfield combines digital technologies along with a business process system for the automation of workflow to maximize productivity and reduce cost. Also, this system is known to be a perfect one in reducing risks that may happen in the operations of oil and gas.

    Digital Oilfield has several processes such as production optimization, drilling optimization, reservoir optimization, and others. Onshore and offshore, both are the application areas where digital oilfield is used.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Digital Oilfield Market Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The digital oilfield market is segmented into the following categories. 

    Digital Oilfield Market Size, Share, & Forecast, by Process Type:

    • Production Optimization (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Drilling Optimization (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Reservoir Optimization (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Digital Oilfield Market Size, Share, & Forecast, by Solutions Type:

    • Hardware Solutions
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Solutions Type Analysis: Distributed Control System, Supervisory Control and Data Acquisition, Smart Well, Wireless Sensor, Safety Systems, Programable Logic Controller, Computer Equipment & Application Hardware, and Others)
    • Software & Service Solutions
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Solutions Type Analysis: IT Outsourcing, Software, IT Services & Commissioning, and Collaborative Product Management)
    • Data Storage Solutions
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Solutions Type Analysis: On-Premises and Hosted)

    Digital Oilfield Market Size, Share, & Forecast, by Application Type:

    • Onshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Digital Oilfield Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the process types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    General Frequently Asked Questions (FAQs)

    What is Digital Oilfield?

    Digital Oilfield combines digital technologies along with a business process system for the automation of workflow to maximize productivity and reduce cost. Also, this system is known to be a perfect one in reducing risks that may happen in the operations of oil and gas. Digital Oilfield has several processes such as production optimization, drilling optimization, reservoir optimization, and others. Onshore and offshore, both are the application areas where digital oilfield is used.

    What will be the CAGR of the Digital Oilfield Market?

    Digital Oilfield Market is likely to witness an impressive CAGR of 7.2% during the forecast period. The rising production activities in the Middle Eastern region, the prevalence of alternative reserves, and the increasing investments in offshore in Asia-Pacific are the factors that are bolstering the growth of the digital oilfield market globally.

    Which country/region is expected to remain the largest Digital Oilfield Market?

    In terms of regions, Europe is estimated to dominate the digital oilfield market in the coming five years.

    Who are the key players in the Digital Oilfield Market?

    Some of the digital oilfield manufacturers are Schlumberger Limited, Weatherford International, Halliburton Company, National Oilwell Varco Corporation, ABB Group, The Emerson Electric Company, Rockwell Automation, Inc., Siemens AG, Honeywell International Inc., and Digi International.

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