A research study titled, “Digital Oilfield Market by process, application and solutions- global industry analysis and forecast to 2023”, published by crystal market research.
Market Highlights:
The Digital Oilfield Market was worth USD 18.56 billion in 2014 and is expected to reach approximately USD 29.07 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.11% during the forecast period. The primary function of the digital oilfield is to boost the recovery of oilfield, diminish non-productive time, and increment gainfulness through the deployment and design of integrated work processes. Digital oilfield work processes combine business process management with cutting edge information technology and designing skill to streamline and, in several cases, mechanize the execution of assignments performed by cross-functional groups.
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The Digital Oilfield Market was worth USD 18.56 billion in 2014 and is expected to reach approximately USD 29.07 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.11% during the forecast period. The primary function of the digital oilfield is to boost the recovery of oilfield, diminish non-productive time, and increment gainfulness through the deployment and design of integrated work processes. Digital oilfield work processes combine business process management with cutting edge information technology and designing skill to streamline and, in several cases, mechanize the execution of assignments performed by cross-functional groups.
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The Digital Oilfield Market Is Segmented As Follows:
Digital Oilfield Market, By Process, Estimates and Forecast, 2014-2023($Billion):Drilling Optimization
Reservoir Optimization
Production Optimization
Others
Digital Oilfield Market, By Process, Estimates and Forecast, 2014-2023($Billion):Drilling Optimization
Reservoir Optimization
Production Optimization
Others
Digital Oilfield Market, By Application, Estimates and Forecast, 2014-2023($Billion):Offshore
Onshore
Digital Oilfield Market, By Solutions, Estimates and Forecast, 2014
2023($Billion):Software & Service Solutions
Hardware Solutions
Data Storage solutions
Onshore
Digital Oilfield Market, By Solutions, Estimates and Forecast, 2014
2023($Billion):Software & Service Solutions
Hardware Solutions
Data Storage solutions
Digital Oilfield Market, By Region, Estimates and Forecast, 2014-2023($Billion):
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
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Competitive InsightsThe major players in the market are Baker Hughes, Rockwell Automation, Siemens, Schlumberger, Emerson Electric, ABB, Halliburton Technology Centre, Weatherford International and National Oilwell Varco. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Regional Outlook and Trend Analysis:
Europe is anticipated to rule the digital oilfield market amid the figure time frame as the area has a few develop fields in the North Sea which require expanded usage of technological prowess to produce oil. The high number of mature oil & gas fields prompts the expanding interest for digital oilfield solutions, for example, well intervention and upgraded oil recuperation (EOR) methods.
Research MethodologyWe use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Europe is anticipated to rule the digital oilfield market amid the figure time frame as the area has a few develop fields in the North Sea which require expanded usage of technological prowess to produce oil. The high number of mature oil & gas fields prompts the expanding interest for digital oilfield solutions, for example, well intervention and upgraded oil recuperation (EOR) methods.
Research MethodologyWe use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
Contact Us:
Judy S,
304 South Jones Blvd, Suite 1896,
Las Vegas NV 89107,
United States
Toll Free: +1-888-213-4282
Email: sales@crystalmarketresearch.com
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
Contact Us:
Judy S,
304 South Jones Blvd, Suite 1896,
Las Vegas NV 89107,
United States
Toll Free: +1-888-213-4282
Email: sales@crystalmarketresearch.com
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