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