Digital Oilfield Market to Expand Significantly by 2024 | ABB Ltd, BP plc, Chevron Corporation

The "Global Digital Oilfield" intelligence report, just published by USD Analytics, covers insurers' micro-level study of important market niches, product offers, and sales channels. In order to determine market size, potential, growth trends, and competitive environment, the Global Digital Oilfield provides dynamic views. Both primary and secondary sources of data were used to generate the research, which has both qualitative and quantitative depth. Several of the major figures the study featured ABB Ltd., Baker Hughes Company, BP plc, Chevron Corporation, Emerson Electric Co., Equinor ASA, Halliburton Company, National Oilwell Varco, Inc, Occidental Petroleum, Rockwell Automation, Inc., Royal Dutch Shell plc, Schlumberger Limited, Siemens AG

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An Overview of the Digital Oilfield market:

A digital oilfield is an integrated, technology-driven approach that leverages advanced digital solutions and data analytics to optimize the exploration, extraction, production, and operational processes within the oil and gas industry. It involves the integration of various technologies like sensors, IoT devices, data analytics, AI-driven algorithms, and automation tools to gather real-time data from oilfield equipment, wells, and facilities. By analyzing this data, digital oilfields aim to enhance decision-making, improve operational efficiency, predict equipment maintenance needs, optimize production output, and increase safety within oil and gas operations. This approach enables oil and gas companies to make more informed and timely decisions, ultimately maximizing productivity and profitability while minimizing risks and downtime.

The Global Market Size for Digital Oilfield is projected to experience a Compound Annual Growth Rate (CAGR) of 6.2% from 2024 to 2030 in estimations.
This course is essential to maintain current market knowledge if you are or want to be involved in the Digital Oilfield industry. By Location (Onshore, Offshore), Type (Hardware, Software and Services, Data Storage), Application (Reservoir Optimization, Drilling Optimization, Production Optimization, Safety management, Others), and significant players are the three market segments. In order to provide a thorough analysis of the industry, the report compiled data from over 22 jurisdictions or nations across Europe, North America, South America, Asia Pacific, and MEA.

Geographically, the global version of the report has the following country inclusion:
• North America [United States, Canada, and Mexico]
• Europe [Germany, the UK, France, Italy, Netherlands, Belgium, Denmark, Spain, Sweden, and the Rest of Europe]
• Asia-Pacific [China, Japan, South Korea, India, Australia, Indonesia, and Others]
• South America [Brazil, Argentina, Colombia, and the Rest of South America]
• the Middle East and Africa (South Africa, Turkey, Israel, GCC Countries, and the Rest of Africa)

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The primary goal of this study is to determine which market niches or nations insurance companies and aggregators should concentrate on in the future in order to allocate their resources and efforts toward Digital Oilfields that will optimize growth and profitability. 2020 will see notably slower growth, and given the dynamic macroeconomic and regulatory environment, mature markets in North America and Western Europe will need "heavy lifting" to handle these tendencies.
In the insurance sector, distribution channels are always crucial because of the "push" nature of many offerings in the sector. In an effort to strengthen their relationship with customers, insurers have been refining their distribution model. Face-to-face selling (agents and brokers) has been evidently dominant in the Digital Oilfield sector over the years. But as the Internet becomes more widely used and consumers start to value expediency, digital purchases are growing in popularity in Digital Oilfield.
Furthermore, the years considered for the study are as follows:
Historical year - 2018-2022
Base year - 2022
Forecast period** - 2023 to 2030 [** unless otherwise stated]

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Major Highlights of TOC:
Chapter 1: Overview of the Global Digital Oilfield Market Industry
1.1.1 Overview;
1.1 Digital Oilfield Industry
1.1.2 Key Companies' Products
1.2 Market Segment by Digital Oilfield
1.2.1 Industry Chain
1.2.2 Customer Behavior & Distribution Routes
Chapter Two: Demand for Digital Oilfields Worldwide
2.1 Overview of the Segment
2.2 Global Digital Oilfield Market Size (2018-2022) by Application/End Users
2.3 Application/End User Forecast for the Global Digital Oilfield Market (2023E-2029)

Chapter 3: Type-wise Global Digital Oilfield Market
3.1 According to Type
3.2 Market Size for Digital Oilfields by Type, 2018-2022
3.3 Market Forecast for Digital Oilfields by Type (2023E-2030)

Chapter Four: Digital Oilfield Market: by Region/Country
4.1 Digital Oilfield Market by Regions
4.2 Digital Oilfield Market Revenue & Share by Region
4.3 North America
4.4 Europe
4.5 the Asia Pacific
4.6 South America
4.7 the Middle East & Africa
Player Analysis in Chapter Five
5.1 Players' Market Share Analysis (2019-2021E)
5.2 Regional Market Concentration Rates
5.3 Overviews of Companies
..........continued

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