Digital Oilfield Market Scenario

Technological advancements in the field of digital oilfield and increased return on investment (ROI) in the digital oilfield are some of the major factors propelling the digital oilfield market globally. Furthermore, increased need from oil & gas operators to scale up production from mature wells is also one of the factor propelling the growth of digital oilfield market. However, delay in decision making process by deploying various analytic tools is one of the major factor expected to hamper the global growth of the digital oilfield market.   

Digital Oilfield Market Segmentation

The Digital oilfield Market is segmented by Solutions, Process, Application and Geography. Various Solutions of digital oilfield market are Hardware Solutions (Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Smart Wells, Safety Systems, Wireless Sensors, Programmable Logic Controller (PLC), Computer Equipment & Application Hardware, Process Automation Manager and Human Machine Interaction Instrument), Software & Service Solutions (It Outsourcing, Software, It Services & Commissioning and Collaborative Product Management (CPM)) and Data Storage Solutions (Hosted and On-Premise). Furthermore, the Process studied in the report are Production Optimization, Drilling Optimization, Reservoir Optimization, Safety Management and Others. Likewise, various Applications of this market are Onshore and Offshore. Based on Geography, the Digital Oilfield Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW.

Digital Oilfield Market by Geography

Geographically, the digital oilfield market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the Middle East is the largest market for digital oilfields, followed by North America. The region comprises 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.

Digital Oilfield Market Key Players

Some of the major players operating in the global digital oilfield market includes Schlumberger, Weatherford, Bhge, Halliburton, National Oilwell Varco, ABB, Emerson, Rockwell, Siemens, Honeywell, Kongsberg, CGG, DIGI International, Pason, Redline, EDG, Oleumtech, Petrolink, Katalyst, IBM, Accenture, Oracle and Intel. These players focus on inorganic strategies such as acquisitions, partnerships, agreements, and collaborations as well as organic strategies such as expansions and product launches & approvals to sustain their positions in the market.

Digital Oilfield Market Report Key Benefits

• The report offers changing market dynamics in the digital oilfield market, presenting historical, current and projected market size in terms of value (USD Million)
• The report comprises a detailed analysis of the factors that drive and restrict the growth of the global digital oilfield market.
• The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of digital oilfield
• It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the digital oilfield market performance
• Key players within the global digital oilfield market are profiled to understand the competitor scenario.

Research Objectives of Digital Oilfield Market Report:

• Analysing the outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the Digital oilfield Market.
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.