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Oilfield Communications Market Report 2019 | Forecasting CAGR 8.74% Growth by 2026 | ABB, Airspan Networks, Baker Huges, Ceragon Networks, Commtel Networks, Huawei Technologies, Inmarsat, RigNet

06-12-2019 07:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

Oilfield Communications Market

Oilfield Communications Market

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.

The exclusive report on Oilfield Communications Market research report has been formulated with the help of extensive primary research (inputs from industry experts, companies, and stakeholders) and secondary research to get a universal view of the market. The report gives an in-detailed information across global regions, including North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America & Central America (SCAM). We follow an iterative research methodology model to formulate the report that help decision makers take sound investment evaluation. Secondary research is carried out using internal and external sources to obtain qualitative and quantitative information of the market backed by the primary interview of KOLs and SME’s. This model negates any drastic deviation in the market estimation and is used is used to estimate the Oilfield Communications Market size and forecasts till 2026.

The Oilfield Communications Market report give a 360-degree holistic view of the market and highlights the key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. In addition, the report also provides profiles of major companies along with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

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.

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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.

The List of Companies

ABB Ltd.
Airspan Networks
Baker Huges Incorporated
Ceragon Networks
Commscope Holding
Commtel Networks
Huawei Technologies
Hughes Network Systems
Inmarsat plc
Rad Data Communications
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 to 2026 – Global Analysis and Forecasts by Service (Managed Services and Professional Services); Communication Network Technology (Tetra Network, Fiber-Optic based Communication Network, Microwave Communication Network, Cellular Communication Network, and VSAT Communication Network); Field Sit (Onshore Communications and Offshore Communications); and Solution (Midstream Communication Solutions, Downstream Communication Solutions, and Upstream Communication Solutions)

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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.

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.

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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– Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Oilfield Communications 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 Oilfield Communications 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 security interest with respect to client products, segmentation, pricing and distribution.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

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.

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