Digital Oilfield Solutions Market Size, Share, Growth By Manufacturers, Type And Application, Forecast To 2028 | Rockwell Automation, Siemens AG, Schneider Electric, Honeywell International Inc

Global Digital Oilfield Solutions Market Projected to Grow due to Increasing Demand for

Telecommunication and Data Management
Electronic instrumentation and SCADA systems offer data management process in telecommunications. It has enabled access to data previously unavailable or available through indirect means that was prone to errors and inaccuracies. Automatic data capture enabled storage of huge amount of data. Production, drilling, and other databases were necessary to effectively process and store large volumes of data.

With advances in subsea control systems and subsurface instrumentation, the era of intelligent solutions has begun. More recently, real time data were collected streamed to the desktop of engineers in the form of trends, stored in historians, and performance plots, and dashboards. To suit the needs of the oil and gas industry, successful products and methodologies from downstream industry were adopted and modified. Remote monitoring is still an emerging area with advances in embedded systems, telecommunications, and material science driving the industry into new frontiers.

Highlights following key factors:

• Business description - A detailed description of the company's operations and business divisions.
• Corporate strategy - Analyst's summarization of the company's business strategy.
• SWOT Analysis - A detailed analysis of the company's strengths, weakness, opportunities and threats.
• Company history - Progression of key events associated with the company.
• Major products and services - A list of major products, services and brands of the company.
• Key competitors - A list of key competitors to the company.
• Important locations and subsidiaries - A list and contact details of key locations and subsidiaries of the company.
• Detailed financial ratios for the past five years - The latest financial ratios derived from the annual financial statements published by the company with 5 years history.

Top Leading Market Players are
1. ABB
2. Emerson Electric
3. Rockwell Automation
4. Siemens AG
5. Schneider Electric
6. Honeywell International Inc
7. General Electric

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Key Takeaways of the Digital Oilfield Solutions Market Study

1. The production optimization segment led the digital oilfield market, by process, from 2020 to 2025. Employing real-time techniques for production optimization increases the recovery of oil and reduces the non-productive time.
2. The production optimization segment led the digital oilfield market, by process, from 2020 to 2025. Employing real-time techniques for production optimization increases the recovery of oil and reduces the non-productive time.
3. Maximum of the oilfield are located onshore, are expected to drive the onshore segment. Thus, the increasing production activities in these regions and the reduction of non-productive time are expected to drive the onshore segment at the highest rate during the forecast period.
4. Europe is expected to dominate the digital oilfield market during the forecast period as the region has several mature fields in the North Sea, which demand increased use of technological prowess to produce oil.

Notable Development Trends to Open up New Horizons of Growth for Digital Oilfield Solutions Market

The leading companies in the market focus on product development as well as the acquisition in the market to enhance the market share in the global market during the forecast period.

1. In June 2019, Baker Hughes and C3.ai has confirmed the joint venture which will provide digital transformation technologies.
2. In April 2019, The New facies-first technique was launched by CGC, which will increase the capabilities of CGG GeoSoftware and also it will enhance the accuracy of reservoir models.

Major points covered in the report:

1. Macroeconomic factors affecting the digital oilfield solutions market and its potential
2. Digital Oilfield Solutions Market dynamics, such as drivers, challenges, and trends
3. Detailed value chain analysis of the digital oilfield solutions market
4. The cost structure of the products and segments covered in the study
5. key product segments, regions and by major market participants are analyzed
6. Analysis of demand and supply, such as top manufacturing and consuming regions, overall trade scenario with imports/exports details
7. Analysis of the market structure, including a tier-wise categorization of key market participants
8. Competitive landscape of the digital oilfield solutions market, including detailed profiles of the top players in this market.

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The study objectives of this report are:

• To know comprehensive information regarding the key factors impacting the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).
• To understand the structure of global digital oilfield solutions market by identifying its various sub-segment).
• To analyse and study the global digital oilfield solutions market size (value & volume) by major regions/countries, company, products and application, past data from 2018 and forecast to 2028.
• Focuses on the key global digital oilfield solutions market manufacturers, to define, describe and analyze the sales value, volume, market competition scenario, market share, SWOT analysis and development plans for forecast period.

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This release was published on openPR.