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Oilfield Communications Market Outlook to 2026 Profiling Prominent Players Airspan Networks, Hughes Network Systems, Speedcast, Commtel, Rad Data Communications, Rignet, Ceragon Networks, Tait Communications, Commscope, Inmarsat

05-09-2019 02:10 PM CET | Media & Telecommunications

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
Oilfield Communications Market Worth USD 6.81 Billion by 2026 | CAGR of 8.74%

Oilfield Communications Market Worth USD 6.81 Billion by 2026 | CAGR of 8.74%

The global oilfield communications market was valued at US$ 3.50 Bn in 2018 and is expected to reach US$ 6.81 Bn by 2026 with a CAGR growth rate of 8.74% in the forecast period from 2019 to 2026.

Communication Network Technology Insights:-

The oilfield communications market by communication network technology is segmented into Tetra Network, Fiber Optic-Based Communication Network, Microwave Communication Network, Cellular Communication Network, and VSAT Communication Network. The oilfield communications market by VSAT Communication Network segment led the market in 2018 with the maximum market share and is expected to continue its dominance during the forecast period. As VSAT is a very reliable network with around 99.9% uptime which ensures that crucial communication links are always available at remote sites.

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Geographically, the oilfield communication market is segmented into North America, APAC, Europe, MEA, and SAM regions. North America leads the oilfield communication market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. Increase in technological developments paired with shale exploration activities in the region is fueling the oilfield communication market in North America. The Middle East is the second largest market in the oilfield communication market. Apart from North America and the Middle East, APAC remains the third largest geographic segment, as with the support of the government in funding in Asian countries, the market for oilfield communication in APAC is progressing. Moreover, on a continuous basis, the oil & gas industry of Asia is growing driven by rising demand and investment activities which makes the region to observe a high number of oil & gas projects.

Global Oilfield communications Market - Company Profiles
• Siemens AG
• ABB Ltd
• Huawei Technologies Co. Ltd.
• Speedcast International Limited
• Commtel Networks Pvt. Ltd.
• Rad Data Communications, Inc.
• Rignet, Inc.
• Baker Hughes Incorporated
• Ceragon Networks Ltd.
• Alcatel-Lucent S.A.
• Tait Communications
• Commscope, Inc.
• Inmarsat PLC
• Airspan Networks, Inc.
• Hughes Network Systems LLC

Oilfield Communications Market Insights:-

Increasing demand for reliable technologies:

There is a rising necessity for reliable and high-speed communications technology in both onshore as well as offshore locations. Steadfast communication is required for supporting mission-critical operations in the oilfields. It is also required that the infrastructure supports the welfare of the crew, thereby enabling the workers in accessing the desired internet services. Satellite connectivity plays a vital role in remote environments. It is used both as a primary communication source and as an independent link for back-up for the sites that are deployed terrestrial connectivity. The emergence of satellites with high throughput help in extending automation to all the operations in the filed including supply, remote maintenance, live data processing, and decision making. Furthermore, the advancements in voice and HD video capabilities are projected to propel the oilfield communications market over the forecast period.

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Increasing concerns related to cybersecurity:-

Ongoing issues related to cyber-attacks is causing severe threat to the oil & gas industry, which is restricting the growth of oilfield communications market. It is estimated that more than 30% of the cyber-attacks that were witnessed by the critical infrastructure are targeted towards the energy firms (ranks second after Government sector). Further, cyber-attacks can cost the oil & gas business to an average of $1.9 billion. Addressing the issues related to cybersecurity in the oil and gas industry is complicated. There are several aspects to cybersecurity that need equal urgent revival as the supply chain links become vulnerable to the attacks owing to digitization in the oilfield.

Oilfield Communications Market Service Insights:-

The global oilfield communications market by service is segmented into managed service and professional service. Professional Service segment dominates the oilfield communications market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2026. Professional services are majorly meant for specific and one-time projects that have a fixed end date. Professional service providers focus on every detail of the project starting from idea brainstorming to project planning and to final implementation.

Oilfield Communications Market Flied Site Insights:-

The oilfield communications market by the filed site is further segmented into onshore communications and offshore communications. Robust and reliable communications in one of the most crucial aspects of the oil market in both offshore and onshore locations. With ever increasing complexity in operations, rising data requirements, collaborative work processes between various onshore and offshore locations, the need for robust telecommunications is constantly growing. It is foreseen that the onshore communications segment of the oilfield communications market dominate the market and is further expected to hold significant market share in the forecast period.

Oilfield Communications Market Solution Insights:-

The oilfield communications market by the solution is further bifurcated into Midstream Communication Solutions, Downstream Communication Solutions, and Upstream Communication Solutions. It is foreseen the upstream communication solutions segment led the oilfield communications market with the highest market share.

Oilfield Communications Market Strategic Insights:-

Market Initiatives was observed as the most adopted strategy in the global oilfield communications market. Few of the recent market initiatives are listed below:

2019: NEC Corporation and Ceragon Networks Ltd. collaborated to further expand their global wireless backhaul business footprint. The companies are anticipated to accelerate the availability of advanced technologies and solutions for 5G wireless backhaul in microwave and millimeter-wave spectrum.

2018: Inmarsat and IMDEX work closely to enhance IMDEX’s drilling intelligence solution, IMDEXHUB-IQ, with satellite connectivity. The solution combines IMDEXHUB-IQ and Inmarsat’s reliable L-band satellite connectivity as standard, thus, removing the need for drilling and mining companies to provide their own connectivity.

2017: ABB Ltd. announced an investment of US$ 150 Mn in Shanghai, China. The investment is aimed to build the most advanced, automated and flexible robotics factory. This production line will focus on machine learning, digital and collaborative solutions and the R & D team will focus on AI research.

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GLOBAL OILFIELD COMMUNICATIONS MARKET SEGMENTATION

Global Oilfield communications Market – By Services
• Managed Services
• Professional Services

Global Oilfield communications Market - By Communication Network Technologies
• Tetra Network
• Fiber Optic-Based Communication Network
• Microwave Communication Network
• Cellular Communication Network
• VSAT Communication Network

Global Oilfield communications Market - By Field Site
• Onshore Communications
• Offshore Communications

Global Oilfield communications Market - By Solution
• Midstream Communication Solutions
• Downstream Communication Solutions
• Upstream Communication Solutions

Global Oilfield communications Market - By Geography
• North America
o U.S.
o Canada
o Mexico

• Europe
o France
o Germany
o Italy
o Spain
o UK
o Rest of Europe

• Asia Pacific (APAC)
o South Korea
o China
o India
o Japan
o Australia
o New Zealand
o Rest of APAC

• Middle East & Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Qatar
o Rest of MEA

• South America (SAM)
o Brazil
o Argentina
o Chile
o Rest of SAM

Key Benefits to Purchase this Research:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global oilfield communication market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global in oilfield communication market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com
Website: https://www.theinsightpartners.com/reports/oilfield-communications-market/?Opr-pK

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