Press release
Operational Digital Oilfield Solution Market Intelligence Report Offers Growth Prospects
Operational digital oilfield solution concept has brought a revolutionary change in the oilfield market and is projected to grow at an increasing pace in coming years. Some of the major benefits of this concept include operational efficiency, production optimization, collaboration, decision support, data integration and workflow automation. The operational digital oilfield solution market caters to various stakeholders such as oilfield operators, exploration companies, government & research organizations, energy associations, private equity investors, and environment research institutes.
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Global Operational Digital Oilfield Solution Market: Drivers and Restraints
Demand for operational digital oilfield solutions is increasing due to limited oil or fuel supply to the growing number of vehicles in the market which is forcing the oil industry to adopt new and improved technology. Apart from this, shortage of skilled labor in the oil industry has been a major problem faced by the industry over the last few years. Introduction of digital oilfield solution will help oil industry to eliminate such problems. Rapid urbanization and growing dependency on digital medium is also one of the major factors which is driving the growth of digital oil field market.
The key issue in implementing the digital oil field technology at field level of the organization is the restriction issues of the operating personnel. It is an entirely novel method of operation in oilfields and requires proper education and training to the employees for updating them on time to time basis.
Global Operational Digital Oilfield Solution Market: Segmentation
The global operational digital oilfield market can be segmented as follows:
Global Operational Digital Oilfield SolutionMarket, by Service
Automation & Instrumentation
Distributed Control System
Supervisory Control And Data Acquisition (SCADA)
Smart Well
Safety System
Wireless Sensor
Programmable Logic Controller (PLC)
Global Operational Digital Oilfield Solution Market, byProcess
Production Optimization.
Drilling Optimization.
Reservoir Optimization.
Others (Asset management, Safety Management, Maintenance & repair)
Global Digital Oilfield Solution Market: Regional Outlook
Geographically, digital oilfield solutionmarket can be divided in major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japanand the Middle East and Africa (MEA).MEA with its low oil production cost as compared with current prevailing oil prices of other regions is anticipated to dominate the global operational digital oilfield solutions market in terms of value during the forecast period.
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Global Digital Oilfield SolutionMarket: Key Players
The key players in global digital oilfield solution market are:
Schlumberger Limited
Halliburton Company
Baker Hughes Incorporated
National Oil well Varco, Inc.
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