Why the Digital Oilfield Market is set to explode? Top Companies: Landis-Gyr, SMS Plc, Co-operative Energy Limited, Itron, Siemens, General Electric, ABB, Schneider Electric, Iskraemeco, Aclara Technologies LLC, Sensus, Jabil, EDMI Meters and Endesa.

Steadily climbing global energy demands will fuel the global "Digital Oilfield" market growth during the forecast period. According to the International Energy Agency's Global Energy and CO2 Status Report, in 2018, worldwide demand for energy grew by 2.3%, with fossil fuels meeting 70% of the energy demanded. Moreover, with the world population projected to hit 9.8 billion by 2050, as per UN estimates, the demand for energy will witness an exponential rise in the near future. This is expected to result in a substantial increase in demand for digital oilfield services owing to their multiple advantages such as better efficiency, high rate of return on investment, informed decision-making, and improved productivity. Consequently, the global digital oilfield market size will broaden till 2026.

Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/digital-oilfield-market-100767

Top Players

o Emerson
o Schlumberger
o IBM
o National Oilwell Varco
o Kongsberg Gruppen
o Weatherford
o Siemens
o Halliburton
o Petrolink
o Honeywell International Inc.
o Infosys

Key Market Driver - Focus on increasing exploration efficiency
Key Market Restraint - Volatility in crude oil prices and growing demand for alternative sources of energy

Market Landscape and Market Scenario Includes:

o Current market size estimate
o Revenues by players Top Companies
o Market size by product categories
o Market size by regions/country

Fortune Business Insights provides a comprehensive market analysis in its report, titled "Digital Oilfield Market Size, Share and Global Trend By Process (Reservoir Optimization, Production Optimization, Drilling Optimization, Others), By Solution (Hardware, Software & Service, Data Storage), By Application (Onshore, Offshore) and Geography Forecast till 2026". The report also contains a detailed assessment of the various factors that will influence the market, trends that are likely to emerge in the market, and the dynamics that will shape the market during the forecast period.

Digital oilfield is a concept that amalgamates business processes with digital technologies with an aim to streamline workflows and maximize productivity. This enables minimizing risks associated with exploration of oil and gas reserves and reducing costs. Digital oilfield technology facilitates collection, collation, and analysis of large volumes of real-time data to make possible effective decision-making.

Order Complete Report https://www.fortunebusinessinsights.com/checkout-page/100767

Segmentation

1. By Process
o Reservoir Optimization
o Production Optimization
o Drilling Optimization
o Others
2. By Solution
o Hardware
o Software & Service
o Data Storage
3. By Application
o Onshore
o Offshore
4. By Geography
o North America (The USA and Canada)
o Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
o Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Ask for Customisation https://www.fortunebusinessinsights.com/enquiry/customization/digital-oilfield-market-100767

Market Landscape and Market Scenario Includes:

o Current market size estimate
o Revenues by players Top Companies
o Market size by product categories
o Market size by regions/country

Growing Application of Big Data Analytics in Oil and Gas Industry to Boost the Market

Widening fields of application of big data analytics are expected to fuel the global digital oilfield market revenue in the forecast period. According to a report by IBM, utilizing big data tools such as Internet of Things (IoT) and Artificial Intelligence (AI) in oil and gas exploration activities can significantly enhance overall business performance. Most importantly, it would raise the decision-making quality as huge amounts of data can be collected and analysed in a considerably shorter time period. Cost and time-effective actions will increase the demand for digital oilfield systems and expand the global digital oilfield market size.

North America and Europe to Dominate the Market; Middle East and Latin America to Exhibit Impressive Growth

Countries in the Middle East such as Saudi Arabia and Latin America such as Venezuela are known to have some of the largest oil reserves in the world. Therefore, these regions are experiencing a high adoption rate of digital oilfield technology, accelerating the global digital oilfield market size. North America is expected to hold a dominant portion of the global digital oilfield market share in the coming decade owing to shale gas exploration activities by the US. In Europe, energy exploration in the North Sea by the UK, Norway, and Germany is anticipated to bolster the demand for digital oilfield technology in the region. Indonesia, China, and India are increasingly implementing digital oilfield systems as their on-shore and off-shore exploration activities advance.
Collaborations and Innovations to Energize Market Competition

The global digital oilfield market competition is expected to be characterized by increasing innovations and strategic collaborations among major players. For example, in February 2026, Petrolink launched a software solution, Manage by Exception (MBE), in Houston, designed to aid drill managers to prioritize the large volumes of alerts sent out by the system. With regard to collaborations, recently, Rockwell Automations and Schlumberger partnered to create Sensia, an automated solution provider that is fully digitally integrated.

For more information in the analysis of this report,visit https://www.fortunebusinessinsights.com/industry-reports/digital-oilfield-market-100767

Queries Addressed In The Market Report:

o What opportunities are present for the market players to enhance their business footprint?
o What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
o Which segment is witnessing huge traction from the consumers?
o For what purposes, is the market being utilized?
o How many units are estimated to be sold in 2020?

Table of Content

5. Global Digital Oilfield Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2. Digital Oilfield Market Analysis, Insights and Forecast - By Solution (USD Billion)
5.2.1.Services
5.2.2.Software
5.2.3.Hardware
5.3. Digital Oilfield Market Analysis, Insights and Forecast - By Process (USD Billion)
5.3.1.Production Optimization
5.3.2.Reservoir Optimization
5.3.3. Drilling Optimization
5.3.4.Others
5.4. Digital Oilfield Market Analysis, Insights and Forecast - By Application (USD Billion)
5.4.1.Onshore
5.4.2.Offshore
5.5. Digital Oilfield Market Analysis, Insights and Forecast - By Region (USD Billion)
5.5.1.North America
5.5.2.Latin America
5.5.3.Europe
5.5.4.Asia Pacific
5.5.5.Middle East & Africa
6. North America Digital Oilfield Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Analysis, Insights and Forecast - By Solution (USD Billion)
6.2.1.Services
6.2.2.Software
6.2.3.Hardware
6.3.Market Analysis, Insights and Forecast - By Process (USD Billion)
6.3.1.Production Optimization
6.3.2.Reservoir Optimization
6.3.3.Drilling Optimization
6.3.4.Others
6.4.Market Analysis, Insights and Forecast - By Application (USD Billion)
6.4.1.Onshore
6.4.2.Offshore
6.5.Market Analysis, Insights and Forecast - By Country (USD Billion)
6.5.1.U.S.
6.5.2.Canada
7. Europe Digital Oilfield Market Analysis, Insights and Forecast, 2015-2026
7.1.Key Findings / Summary
7.2.Market Analysis, Insights and Forecast - By Solution (USD Billion)
7.2.1.Services
7.2.2.Software
7.2.3.Hardware
7.3.Market Analysis, Insights and Forecast - By Process (USD Billion)
7.3.1.Production Optimization
7.3.2.Reservoir Optimization
7.3.3.Drilling Optimization
7.3.4.Others
7.4.Market Analysis, Insights and Forecast - By Application (USD Billion)
7.4.1.Onshore
7.4.2.Offshore
7.5.Market Analysis, Insights and Forecast - By Country (USD Billion)
7.5.1.U.K.
7.5.2.Germany
7.5.3.France
7.5.4.Norway
7.5.5.Russia
7.5.6.Rest of Europe
8. Asia Pacific Digital Oilfield Market Analysis, Insights and Forecast, 2015-2026
8.1.Key Findings / Summary
8.2.Market Analysis, Insights and Forecast - By Solution (USD Billion)
8.2.1.Services
8.2.2.Software
8.2.3.Hardware
8.3.Market Analysis, Insights and Forecast - By Process (USD Billion)
8.3.1.Production Optimization
8.3.2.Reservoir Optimization
8.3.3. Drilling Optimization
8.3.4. Others
TOC Continued...!

Key Features of Market Research Report:

o This report provides detail analysis of the market and have a comprehensive understanding of the market and its commercial landscape.
o Learn about the various market strategies that are being adopted by leading companies.
o It provides a five-year forecast assessed based on how the market is predicted to grow.
o It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
o To understand the future scope and outlooks for the market.
o Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
o Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
o Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
o The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
o Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
o Market Report also mentions market share accrued by each product in the market, along with the production growth.

Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.

Contact Us:
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com

About us:

Fortune Business Insights(TM) offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights(TM) we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights(TM) Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com
Fortune Business Insights(TM)
LinkedIn | Twitter | Blogs

This release was published on openPR.