Press release
Digital Oilfield Market, Industry Analysis Report, Regional Outlook
Increasing demand to integrate the conventional practice involved in oil & gas (O&G) sector with automation, communication and information technologies will propel the digital oilfield market share. Ability to make accurate decision, extensive return on investment and time optimization by maximizing the field recovery rate are some of vital factors responsible to augment industry.
Increasing exploration and production of unconventional and conventional resources along with rising number of rig counts will stimulate the digital oilfield market share during the forecast period. In the U.S., rig count increased from 502 in 2016 to 754 in 2017. Increasing number of mature field coupled with rising demand for crude products may also drive the business growth.
Request for table of contents of this research report @ https://www.gminsights.com/request-toc/upcoming/1240
Stringent regulation towards environment protection and safety issues will positively encourage the digital oilfield market size during the timeframe. Shortage human resource in E&P sector are pushing industry to replace workforces in remote environments with automated systems.
Rising crude oil demand from end users including refineries and petrochemical industries coupled with growing population and rapid industrialization is anticipated to stimulate the digital oilfield market share in future. In 2016, a daily demand for crude oil increased from 95 million barrel to 96.3 million barrels. Refinery expansion to meet the petroleum product demand will further complement the business growth. Digital technology ability to reduce maintenance cost and downtime of equipment make its adoption favorable in refinery. In October 2016, Indian Oil Corporation announced an investment of USD 2.3 billion towards the expansion of its Panipat refinery capacity to 25MMT from 15MMT which will stimulate industry growth.
Lack of awareness regarding benefits and adoption of digital technology may hamper the digital oilfield market size. The technology is in nascent stage since, it was developed in 2000, so its price is one of the major concerns for small firms.
Based on process, digital oilfield market has been segmented into reservoir optimization, drilling, production optimization and well completion. On the basis of instrumentation, the industry can be segmented into, SCADA, smart wells, PLC and modern safety systems. SCADA is expected to witness growth due to its ability to protect the field, pipeline etc. from any external threat by providing real time and accurate information.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1240
Asia Pacific digital oilfield market size will witness substantiate growth owing to increasing adoption of digital technology in upstream sector. The major importing countries including India, China and Japan are using these technologies to enhance their productivity by reducing production cost. It also helps them to reduce their dependency from import. Middle East and Africa is anticipated to witness growth from 2016 to 2024 owing to increasing political instability in this region.
For Europe, Norway digital oilfield market size is expected to witness the growth from 2016 to 2024 owing to rising demand for digital technology adoption to minimize the error while taking decision and to optimize the production and operation cost.
Key players in digital oilfield market share are Honeywell International Inc., Schlumberger Ltd., Accenture, Microseismic, Pason Systems, Redline Communications Group, Siemens, Halliburton Company, National Oilwell Varco Inc., Kongsberg Gruppen, Paradigm, Petrolink, Redline Communications Group, Weatherford International, Baker Hughes and Istore.
Browse key industry insights for Digital Oilfield Market
https://www.gminsights.com/industry-analysis/digital-oilfield-market
Browse Related Report
Oil Spill Management Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Russia, China, Japan) Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/oil-spill-management-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Digital Oilfield Market, Industry Analysis Report, Regional Outlook here
News-ID: 713580 • Views: …
More Releases from Global Market Insights, Inc.
Hepatitis B Vaccine Market Set to Surpass $12 Billion by 2034
The global hepatitis B vaccine market is poised for significant expansion over the next decade, fueled by rising liver disease cases, expanded immunization coverage, and advancements in vaccine development. Valued at USD 6.7 billion in 2024, the market is projected to reach USD 7.3 billion in 2025 and surge to USD 12 billion by 2034, reflecting a healthy compound annual growth rate (CAGR) of 5.7%.
A major driver behind this growth…
Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health.
This in turn has led to a surge in demand for various functional foods…
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock.
According to Global Market Insights Inc estimates…
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091
Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group…
More Releases for Oil
Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil …
In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period.
Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021…
Cosmetic Oil Market Future Outlook 2023-2029, Industry Demand, Trends, Size, New …
This Cosmetic Oil Market research report is one of the best and wide-ranging, which provides market insights by considering numerous factors. Therefore, businesses can get important market insights cost-effectively with the help of the Cosmetic Oil Market research report. Such a persuasive report is the best to gain a competitive advantage in this quickly transforming marketplace. In addition, the report also provides market segmentation based on type and end-user. The…
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Growing demand for corn oil as cooking oil is fuelling the Corn Oil Market
The research report "Corn Oil Market: by Product Type (High Oleic, Middle Oleic, Low Oleic), By Application (Biodiesel, Soap Making, Food Services, Pharmaceutical, Others) and Geography- Global/Region/Country Forecast to 2028." The global corn oil market size was valued at USD 4.2 Bn in the year 2021, growing at a CAGR rate of 7.2% during the evaluation time span 2022-2028.
Glance our 200 slides market research and competitive intelligence research report,…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Global Sustainable Palm Oil Market analysis report- with Leading players, Applic …
Sustainable Palm Oil Market
The most widely used vegetable oil there is, palm oil is found in everything from snacks to household cleaners to cosmetics. Palm oil is used in many of the products on supermarket shelves, from margarine and chocolate to ice cream, soaps, cosmetics, and fuel for cars and power plants. The report presents a comprehensive overview, market shares, and growth opportunities of Sustainable Palm Oil market by product type,…
