Digital Oilfield Market by Solutions, Processes, Application and Region – Global Forecast to 2022 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Digital
Oilfield Market by Solutions (Hardware, Software & Service, and Data
Storage Solutions), Processes (Reservoir, Production, Drilling
Optimizations), Application (Onshore and Offshore), and Region – Global
Forecast to 2022" report has been added to ResearchAndMarkets.com's
offering.

The digital oilfield market is projected to grow from an estimated USD
21.14 billion in 2017 to USD 27.10 billion by 2022, at a CAGR of 5.09%,
from 2017 to 2022.

Increasing adoption of digitization techniques in oil & gas fields for
enhancing the production outputs and optimizing workflow process has
enabled the companies to meet the production targets and eliminate
nonproductive time in oilfields. Europe and North America are expected
to be the largest markets for digital oilfield during the forecasted
year. Data security and cyber threats are key pain points for oil field
operate that restrain the growth of the market during the forecast year.

The hardware segment of the global digital oilfield market is expected
to grow at a fast pace during the forecast period. The capital
investment by oilfield operators toward technology enhancement and
process automation enables the companies to eliminate non-productive
time, optimize production and enhanced control, and monitor oil & gas
fields.

The Middle East is the largest market for digital oilfield, followed by
North America and Asia Pacific. The region consists of major oil & gas
producing countries such as Saudi Arabia, the UAE, Kuwait, Iraq, and
Iran, which have some of the largest petroleum reserves in the world.
These countries continue to drive the demand for the market in the
region. Despite the recent decline in profit margins for the national
oil companies, the companies continue to increase their production
output. The use of digitization techniques would enhance the production
output synergies thereby enabling the oilfield operators to improve
their operational efficiency.

The key players in the digital oilfield market include integrators such
as Schlumberger (US), Weatherford (Switzerland), Halliburton (US), BHGE
(US), National Oilwell Varco (US), and equipment providers such as ABB
(Switzerland), Emerson (US), Rockwell (US), and Siemens (Germany).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Digital Oilfield Market, By Process

7 Digital Oilfield Market, By Solutions

8 Digital Oilfield Market, By Application

9 Digital Oilfield Market, By Region

10 Competitive Landscape

11 Company Profiles

• ABB
• BHGE
• CGG
• Digi International
• EDG
• Emerson
• Halliburton
• Honeywell
• IHS Markit
• Katalyst
• Kongsberg
• National Oilwell Varco
• Oleumtech
• Pason
• Petrolink
• Redline
• Rockwell
• Schlumberger
• Siemens
• Weatherford

For more information about this report visit https://www.researchandmarkets.com/research/pdcwwk/digital_oilfield?w=4

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Topics: Oilfield
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