Press release
Digital Oilfield Market Analysis, Promising Growth Opportunities and Outlook 2020 - 2027
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Developments in various technologies, including the cloud, social media, and Big Data, and analytics for upstream asset development, have played a key role in fueling the growth of the digital oilfield market. Introduction of such advanced technologies has enabled digital oilfields to improve the productivity of operations. The digital oilfields are involved in improvement of operational efficiency, production optimization, decision support, data integration, and automation of workflow to the company.
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Europe is expected to be a prominent region for the digital oilfield market, as it has several mature fields in the North Sea, thus fueling the demand for digital oilfield market. Asia-Pacific is anticipated to offer potential growth opportunities in the coming years, owing to rise in acceptance of the digital oilfield technology. Owing to low cost of production and oil prices in the Middle East, the region serves as a lucrative market for are also low thus investments
COVID-19 scenario analysis:
The outbreak of the novel coronavirus pandemic has severely affected the global digital oilfield market.
• With countries witnessing complete lockdown, various companies have reduced or completely stopped their operations. In addition, people have reduced using their vehicles to a significant extent. All these factors lower the use of fuel across the globe, which, in turn, has led to exponential decline in prices of fuel, thereby negatively impacting the growth of the digital oilfield market.
• Significant reduction in revenue of the oil & gas companies in the midst of the pandemic has resulted in decrease in investments on modern technologies. This has further impacted the digital oilfield market.
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The research offers an extensive analysis of key players active in the global Bunker Fuel industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include Emerson Electric, General Electric, Weatherford International, Schlumberger, Halliburton, Baker Hughes, Sinopec Oilfield Service, Honeywell International, Siemens, National Oil well Varco, Pason Systems, and International Business Machines (IBM). These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Key benefits of the report
• This study presents the analytical depiction of the global digital oilfield industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global digital oilfield market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global digital oilfield market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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