Press release
Digital Oilfield Market Boost Market Growth by 2023; growing CAGR 5.11% with key players- Baker Hughes, Rockwell Automation, Siemens, Schlumberger, Emerson Electric, ABB, Halliburton Technology Centre, Weatherford International and National Oilwell Varco.
Digital Oilfield Market
growth trend. The report comprises comprehensive research based study executive summary with primary and secondary research.
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Competitive Insights
The major players in the market are
Baker Hughes, Rockwell Automation, Siemens, Schlumberger, Emerson Electric, ABB, Halliburton Technology Centre, Weatherford International and National Oilwell Varco. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Regional Outlook and Trend Analysis:
Europe is anticipated to rule the digital oilfield market amid the figure time frame as the area has a few develop fields in the North Sea which require expanded usage of technological prowess to produce oil. The high number of mature oil & gas fields prompts the expanding interest for digital oilfield solutions, for example, well intervention and upgraded oil recuperation (EOR) methods.
Market Highlights:
The Digital Oilfield Market was worth USD 18.56 billion in 2014 and is expected to reach approximately USD 29.07 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.11% during the forecast period. The primary function of the digital oilfield is to boost the recovery of oilfield, diminish non-productive time, and increment gainfulness through the deployment and design of integrated work processes. Digital oilfield work processes combine business process management with cutting edge information technology and designing skill to streamline and, in several cases, mechanize the execution of assignments performed by cross-functional groups.
Digital Oilfield Market-Application outlook
The complications in deep-water drilling, alongside the expanding adoption of digital oilfield techniques in several regions where the maximum of the oilfields are located onshore, are foreseen to drive the onshore fragment. Consequently, the expanding production exercises in these locales and diminishment of non-productive time is anticipated to drive the onshore portion at the most astounding rate amid the conjecture time frame.
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The Digital Oilfield Market Is Segmented As Follows:
Digital Oilfield Market-By Process
Drilling Optimization
Reservoir Optimization
Production Optimization
Others
Digital Oilfield Market-By Application
Offshore
Onshore
Digital Oilfield Market-By Solutions
Software & Service Solutions
Hardware Solutions
Data Storage solutions
Solution Outlook and Trend Analysis
The hardware section is evaluated to develop at a speedier rate over the forecast period. The investments by oilfield operators towards technology upgrade and process mechanization empower the organizations to dispense with non-productive time, improve generation, and improve control and monitoring of oil and gas fields, accordingly driving the equipment market amid the figure time frame.
What Our Report Offer:
1) An extensive research study on the global digital oilfield market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the digital oilfield market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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Table of Contents:
1. Introduction
2. Executive Summary
3. Market Overview
4. Market Analysis by Regions
5. Digital Oilfield Market, By Process
5.1. Introduction
5.2. Global Digital Oilfield Revenue and Market Share by Process (2014-2018)
5.2.1. Global Digital Oilfield Revenue and Revenue Share by Process (2014-2018)
5.3. Reservoir Optimization
5.3.1. Global Reservoir Optimization Revenue and Growth Rate (2014-2018)
5.4. Drilling Optimization
5.4.1. Global Drilling Optimization Revenue and Growth Rate (2014-2018)
5.5. Production Optimization
5.5.1. Global Production Optimization Revenue and Growth Rate (2014-2018)
5.6. Other Processes
5.6.1. Global Other Processes Revenue and Growth Rate (2014-2018)
6. Digital Oilfield Market, By Application
6.1. Introduction
6.2. Global Digital Oilfield Revenue and Market Share by Application (2014-2018)
6.2.1. Global Digital Oilfield Revenue and Revenue Share by Application (2014-2018)
6.3. Onshore
6.3.1. Global Onshore Revenue and Growth Rate (2014-2018)
6.4. Offshore
6.4.1. Global Offshore Revenue and Growth Rate (2014-2018)
7. Digital Oilfield Market, By Solution
8. Digital Oilfield Market, By Region
………..CONTINUED FOR TOC
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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