Digital Oilfield Solutions - Global Market Outlook (2016-2022)
According to Stratistics MRC, the Global Digital Oilfield Solutions market is expected to grow from $28.31 billion in 2016 to reach $40.61 billion by 2022 with a CAGR of 6.1%. Growing exploration & production activities, increasing demand to minimize production costs, and raising safety concerns are some of the factors fueling the market growth. In addition, recent technological developments in oilfield solutions are bolstering the market growth. However, fluctuating oil prices, low adoption of new technologies are limiting the market growth.
Automation & Instrumentation segment is expected to witness a highest growth rate during the forecast period due to limited human capital in industry and optimize the costs of automated oilfield process. Middle East is one of the key markets for digital oilfield solutions. North America region has a significant share in the overall global market and is anticipated to provide lucrative growth opportunities for the market in the next few years. Asia Pacific region is expected to be the fastest growing region, with the industrialization & expansion of oil & gas industry.
Some of the key players in global digital oilfield solutions market include Baker Hughes Inc., CGG S.A., DIGI International Inc., Halliburton Company, Honeywell International Inc., IHS Inc., Katalyst Data Management, Kongsberg Gruppen Asa, National Oilwell Varco, Inc., Ovation Data Services, Inc., Paradigm Limited, Pointcross Inc., Rockwell Automation, Inc., Schlumberger Ltd., Siemens AG, and Weatherford International PLC.
• Information technology
• Automation & Instrumentation technology
o Supervisory Control & Data Acquisition (SCADA)
o Programmable Logical Controller (PLC)
o Distributed Control System (DCS)
o Other Technologies
• Drilling optimization
• Production optimization
• Reservoir optimization
• Other Process
o Predictive Maintenance
o Asset Management
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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