Digital Oilfield Market worth US$ 30.40 Billion by 2024 | Global Forecast, Trends, Opportunity and Industry Analysis

According to Market Study Report, Digital Oilfield Market provides a comprehensive analysis of the Digital Oilfield Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.This report also provides market landscape and market share information in the Digital Oilfield Market.

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. This report spread across 206 pages, profiling 25 companies and supported with 110 tables and 46 figures are now available in this research.

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Top Companies profiled in the Digital Oilfield Market:
o Schlumberger (US)
o Weatherford (Switzerland)
o Halliburton(US)
o BHGE (US)
o National Oilwell Varco (US)
o equipment providers such as ABB (Switzerland)
o Emerson (US)
o Rockwell(US)
o Siemens (Germany)

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. The hardware segment of the global digital oilfield market is expected to grow at a fast pace during the forecast period.

"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.

Breakdown of Primary Participants' Profile:
o By Company Type: Tier 1- 25%, Tier 2- 40%, Tier 3- 35%
o By Designation: C-Level- 18%, D-Level- 35%, Others- 47%
o By Region: Asia Pacific- 30%, Middle East- 23%,Europe- 20%, North America- 18%, and Africa- 9%

The Study Objectives of this report are:
o To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders

o To forecast the growth of the digital oilfield market with respect to the major regions (Asia Pacific, Europe, Americas, and The Middle East and Africa)

o To define, describe, and forecast the global digital oilfield market by process, application, solution, and region

o To provide detailed information on the major factors influencing the growth of the digital oil field market (drivers, restraints, opportunities, and industry-specific challenges)

o To strategically analyze the digital oilfield market with respect to individual growth trends, prospects, and contribution of each segment to the market

o To strategically profile key players and comprehensively analyze their market share and core competencies

o To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the digital oilfield market

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Competitive Landscape of Digital Oilfield Market:
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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This release was published on openPR.