New Study on Digital Oilfield Market "Estimated to Reach US$ 30.40 Billion by 2024"

The "Digital Oilfield Market" report presents an in-depth assessment of the Digital Oilfield including enabling technologies, key trends, market drivers, challenges, deployment case studies, standardization, opportunities, future roadmap, value chain, Top key player profiles and strategies. The report also presents market size forecasts from 2019 till 2024.

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The Digital Oilfield Market is projected to grow from an estimated US$ 24.1 Billion in 2019 to US$ 30.40 Billion by 2024, at a CAGR of 4.77% from 2019 to 2024. New technological advancements and increased Return on Investment (ROI) are driving the digital oilfield market.This report spread across 209 Pages, profiling 21 companies and supported with tables and figures in now available in this research.

"The hardware segment is expected to hold the largest share of the digital oilfield market, by solutions, during the forecast period."
The hardware solutions segment includes Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), smart wells, safety systems, wireless sensors, Programmable Logic Controller (PLC), computer equipment & application hardware, process automation manager, and human machine interaction instrument which is responsible for surveillance and communication data transfer in both onshore and offshore fields.

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"Middle East: The fastest market for digital oilfields."
The Middle East is the largest market for digital oilfields, followed by North America and Asia Pacific. The region consists of major oil & gas producing countries such as Saudi Arabia, the UAE, Kuwait, Iraq, and Iran, which have some of the largest petroleum reserves in the world. Saudi Arabia continues to drive the demand for the market in the region. Despite the recent decline in profit margins for the national oil companies, the companies continue to increase their production output.

Competitive Landscape
1 Overview
2 Competitive Leadership Mapping
2.1 Visionary Leaders
2.2 Innovators
2.3 Dynamic
2.4 Emerging
3 Ranking of Players and Industry Concentration, 2018
4 Competitive Scenario
4.1 New Product Launches
4.2 Contracts & Agreements
4.3 Mergers & Acquisitions
4.4 Investments & Expansions
4.5 Partnerships, Collaborations, Alliances, and Joint Ventures

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Research Coverage:
The report provides a complete view of the digital oilfield market across the oil & gas industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as process, application, solutions, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

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This release was published on openPR.