Digital Oil-Field Market Comprehensive Study 2018: Schlumberger, Weatherford, Baker Hughes, a GE company, Halliburton, National Oilwell Varco, ABB, Emerson, Rockwell, Siemens Gamesa, KONGSBERG, IHS Markit- Energy Solutions, CGG and Digi InternationalOil-Field market Report deliver comprehensive analysis of the market structure along with forecast of the various segments and sub-segments of the market. This analysis gives an examination of various segments that are relied upon to witness the quickest development amid the estimate forecast frame. It helps in imagining the arrangement of the Digital Oil-Field market complete analysis regarding type and applications, featuring the key business resources and key players. Recognize the most recent Digital Oil-Field improvements, share, and systems utilized by the significant market.
Global Digital Oil-Field Market valued approximately USD 21.0 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2018-2025. The advanced software and data analysis techniques are used to improve the profitability of oil & gas production operations in order to increase the demand for Digital Oil-Field Market. Improved safety, optimized production rate of hydrocarbons, environmental protection, and ease in finding reserves and exploiting them to the fullest are some of the key drivers of the market. The process of automation of upstream, midstream, and downstream oilfield activities is called Digital oilfield. In order to provide better outputs and improve the profitability of the production process by software and data analysis techniques, digital oilfield is used. Digitization of oilfields is the implementation of resources to bring cost-effective and efficient results as well as optimum utilization of available resources.
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On the basis of process, the digital oilfield market is segmented into drilling optimization, reservoir optimization, production optimization, and others. The asset management, maintenance & repair, and safety management are included in other segment. The maximum utilization of resource and time as well as the fine recovery of oil is leading the market by production optimization. On the basis of solutions, the digital market is categorized into hardware solutions, software & service solutions, and data storage solutions. The optimization of production and control & monitoring of oil & gas fields has lead the demand of the market to its great extent. The hardware segment estimated to dominate the market in forecast period. On the basis of application, the digital oilfield market is classified into onshore and offshore. The onshore segment has been increasing the market by faster growth rate. On the basis of region, the digital oilfield market is segmented into Europe, North America, Asia Pacific, the Middle East, South America, and Africa. Europe is estimated to dominate the market to its great extent.
The industry is seeming to be fairly competitive. Some of the leading market players include Benchmarking, Schlumberger, Weatherford, BHGE, Halliburton, National Oilwell Varco, ABB, Emerson, RockWell, Siemens, Honeywell, Kongsberg, IHS Markit, CGG, Digi International and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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The detailed segments and sub-segment of the market are explained below:
• Production Optimization
• Drilling Optimization
• Reservoir Optimization
• Hardware Solutions
• Software & Service Solutions
• Data Storage Solutions
• North America
• Asia Pacific
• Latin America
• Rest of the World
Target Audience of the Global Digital Oil-Field Market in Market Study:
• Key Consulting Companies & Advisors
• Large, medium-sized, and small enterprises
• Venture capitalists
• Value-Added Resellers (VARs)
• Third-party knowledge providers
• Investment bankers
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