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Digital Oilfield Solutions Market Growth, Future Prospects & Competitive Analysis, 2016 – 2023

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Published: | Report ID: 14803 | Report Format : PDF

Market Insights

Digital Oilfield Solutions are designed to optimize the productivity of oil fields by integrating information technology and operational technology. Oil producers are adopting technologies such as digital oilfield solutions to optimize their new and existing oilfields, which can reduce non-productive time (NPT) and help them align their operations with market demand.

The global digital oilfield solution market is projected to register moderate growth over the forecast period. The downturn in the oil and gas industry has shifted the focus of oil producers to improving oil recovery from mature fields. Thus, oil producers are adopting optimization solutions. Further, safe operations and concerns over human health and the environment due to the hazardous nature of operations are factors driving the adoption of digital oilfield solutions. However, factors such as the budgetary constraints of oil producers for investment in IT infrastructure and a lack of awareness about the advantages of digital oil field solutions are expected to restrain market growth over the forecast period.

Europe is anticipated to be the largest market during the forecast period owing to the increasing investment in IT infrastructure with a focus on improving production from mature oilfields. Followed by it, North America is expected to be the second-largest market for digital oilfield solutions by 2023 due to increasing non-conventional shale production activities in the region.

The leading players identified across the value chain of the digital oilfield solutions market are highly focused on developing innovative solutions in order to gain a competitive edge and increase awareness about the advantages of digital oilfield solutions to increase their market penetration.

The global market for digital oilfield solutions is segmented on the following bases:

By process

  • Reservoir optimization
  • Production optimization
  • drilling optimization
  • Others (Asset Management, Predictive Maintenance)

By Technology

  • Information technology
  • Operational technology
  • DCS (Distributed Control System)
  • PLC (Programmable Logical Controller)
  • SCADA (Supervisory Control & Data Acquisition)
  • Others (Sensors, Safety Systems)

By geography

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Key players identified across the value chain in the digital oilfield solutions market include but are not limited to:

Honeywell International, Accenture, Wipro Limited, Infosys Limited, and others

This report offers the following:

  • An overview of the global digital oilfield solutions market
  • Market trends assessment for the period 2016-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
  • Qualitative assessment tools such as market drivers, challenges, and future prospects, and competitive analysis: market positioning of key market players
  • Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
  • A general overview of the industry structure
  • Company profiles highlighting key information about the major players operating in the global digital oilfield solutions market,

Frequently Asked Questions:

What is the size of Digital Oilfield Solutions Market?

The market for Digital Oilfield Solutions Market is expected to reach US$ XX Bn By 2023.

What is the Digital Oilfield Solutions Market CAGR?

The Digital Oilfield Solutions Market is expected to see significant CAGR growth over the coming years,at XX%

What is the Forecast period considered for Digital Oilfield Solutions Market?

The report is forecasted from 2016-2023.

What is the base year considered for Digital Oilfield Solutions Market?

The base year of this report is 2015.

Who are the major players in this market?

Honeywell International, Accenture, Wipro Limited, Infosys Limited are some of the major players in the global market.

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