Digital Oilfield Market to experience a healthy CAGR of 7.2%
February 18, 2020
Digital Oilfield Market Overview:
Digital Oilfield Market is likely to witness an impressive CAGR of 7.2% during the forecast period. The rising production activities in the Middle Eastern region, the prevalence of alternative reserves, and the increasing investments in offshore in Asia-Pacific are the factors that are bolstering the growth of the digital oilfield market globally
Report Overview:
This report, from Stratview Research, studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Digital Oilfield Market Segment Insights:
Production Optimization Segment: The growth engine
Based on the process type, the market is segmented as production optimization, drilling optimization, reservoir optimization, and others. The production optimization segment is estimated to lead the market in the coming five years. The real-time techniques for production optimization augment the recovery of oil and minimize the non-productive time.
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https://www.stratviewresearch.com/toc/725/digital-oilfield-market.html
Dominance of: The Hardware Solutions Segment
Based on the solutions type, the market is segmented as hardware solutions, software & service solutions, and data storage solutions. The hardware solutions segment is expected to grow at the fastest rate during the forecast period. Investments by oilfield operators towards technology enhancement and process mechanization are helping companies to eradicate non-productive time and scale-up production.
A highly/moderately/fragment consolidated Market
Some of the digital oilfield manufacturers are Schlumberger Limited, Weatherford International, Halliburton Company, National Oilwell Varco Corporation, ABB Group, The Emerson Electric Company, Rockwell Automation, Inc., Siemens AG, Honeywell International Inc., and Digi International.
Regional Hegemony of Europe
Europe is estimated to dominate the digital oilfield market in the coming five years. This growth is owing to the presence of large oilfields in the North Sea. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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