Digital Oilfield Market by Solutions (Hardware, Software & Service, and Data Storage Solutions), Processes (Reservoir, Production, and Drilling Optimizations), Application (Onshore and Offshore), and Region - Global Forecast to 2024
[206 Pages Report] The global digital oilfield market is projected to reach a size of USD 30.4 billion by 2024, at a CAGR of 4.77%, from an estimated USD 24.1 billion in 2019. New technological advancements, increased need from oil and gas operator to scale up production, and increased focus on the remote management of oil field for process optimization & automation are expected to be the key factors driving the digital oilfield.
To know about the assumptions considered for the study, download the pdf brochure
By process, the production optimization segment is the largest contributor in the digital oilfield during the forecast period.
The production optimization segment led the market, by process, from 2019 to 2024. Employing real-time techniques for production optimization increases the recovery of oil and reduce the non-productive time. The ongoing market dynamics, where there has been a constant fluctuation in the oil prices, requires focusing on reducing the non-productive time and improve workflow efficiency with the use of digital oilfield solutions.
By Application, the onshore segment is expected to be the largest contributor during the forecast period.
The complexity in deepwater drilling, along with the increasing adoption of digital oilfield techniques in regions such as the Middle East and North America, where maximum of the oilfields are located onshore, are expected to drive the onshore segment. Thus, the increasing production activities in these regions and reduction of non-productive time is expected to drive the onshore segment at the highest rate during the forecast period.
By Solution, the hardware segment is expected to be the largest contributor during the forecast period.
The hardware segment is estimated to grow at a faster rate from 2019 to 2024. The investments by oilfield operators toward technology enhancement and process automation enable the companies to eliminate non-productive time, optimize production, and enhance control & monitoring of oil & gas fields, thereby driving the hardware market during the forecast period.
Europe is expected to account for the largest market size during the forecast period.
Europe is expected to dominate the digital oilfield market during the forecast period as the region has several mature fields in the North Sea which demand increased use of technological prowess to produce oil. The high number of mature oil & gas fields lead to the increasing demand for digital oilfield solutions such as well intervention and Enhanced Oil Recovery (EOR) techniques. The figure below shows the projected market sizes of various regions with respective CAGRs for 2024.
Key Market Players
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).
Scope of the Report
|
Report Metric |
Details |
|
Market Size available for years |
20172024 |
|
Base year considered |
2018 |
|
Forecast period |
20192024 |
|
Forecast units |
Value (USD) |
|
Segments covered |
Process, Application, Solution, and Region. |
|
Geographies covered |
Asia Pacific, South America, North America, Europe, The Middle East, and Africa. |
|
Companies covered |
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) |
This research report categorizes the market based on process, application, solution, and region.
On the basis of process, the digital oilfield market has been segmented as follows:
- Reservoir Optimization
- Drilling Optimization
- Production Optimization
- Safety management
- Others
On the basis of application, the market has been segmented as follows:
- Onshore
- Offshore
On the basis of solution, the market has been segmented as follows:
- Hardware Solutions
- Distributed Control System
- Supervisory Control & Data Acquisitions
- Smart Well
- Safety System
- Wireless Sensor
- Programmable Logic Controller
- Computer Equipment & Application
- Process Automation Manager
- Human-Machine Interaction
- Software & Service Solutions
- IT Outsourcing
- Software
- IT servicing & Commissioning
- Collaborative Product Management
- Data Storage solutions
- On-Premise
- Hosted
On the basis of Region, the market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East
- South America
- Africa
Recent Developments
- In April 2019, CGG launched its New facies-first technique which will increase the capabilities of CGG GeoSoftware. This will enhance the accuracy of reservoir models.
- In November 2018, ABB was awarded a contract by China Petroleum Engineering and Construction Corporation to provide electrical, control and telecommunication solutions to Bab Onshore Field in Abu Dhabi.
- In January 2018, Kongsberg Digital acquired 34% ownership share in NSG Digital. The purpose of the acquisition was to develop a new logistics system called NSG E2E. Now NSG E2E (End-to-End) is offered as a part of Kongsberg Digital's application platform called Kognifai.
- In March 2017, Kongsberg expanded its business by opening a new digital platform namely Kognifai. This would provide an integrated development and distribution platform to increase efficiency across maritime and energy industries.
Key Questions addressed by the report
- The report identifies and addresses key markets for digital oilfield, which would help service providers review the growth in demand.
- The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
- The report will help key players understand the strategies of their competitors better and make better strategic decisions.
- The report addresses the market share analysis of key players in digital oilfield, and with the help of this, companies can enhance their revenues in the respective market.
- The report provides insights about emerging geographies for digital oilfield and, hence the entire market ecosystem can gain competitive advantage from such insights.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 21)
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 25)
2.1 Research Methodology Scope
2.2 Market Size Estimation
2.2.1 Ideal Demand-Side Analysis
2.3 Assumptions
2.3.1 Supply-Side Analysis
2.3.1.1 Calculation
2.3.2 Forecast
2.4 Some of the Insights of Industry Experts
3 Executive Summary (Page No. - 28)
4 Premium Insights (Page No. - 34)
4.1 Global Digital Oilfield Market, 2019-2024
4.2 Digital Oilfield, By Country
4.3 European Digital Oilfield, By Process & Country
4.4 Digital Oilfield, By Process
4.5 Digital Oilfield, By Solutions
4.6 Digital Oilfield, By Application
5 Market Overview (Page No. - 38)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 New Technological Advancements in the Digital Oilfield
5.2.1.2 Increased Return on Investment (ROI) in the Digital Oilfield
5.2.1.3 Increased Need From Oil & Gas Operators to Scale Up Production From Mature Wells
5.2.2 Restraints
5.2.2.1 Delay in Decision Making Process By Deploying Various Analytic Tools
5.2.2.2 Cybersecurity Threat Hampering the Growth of the Digital Oilfield
5.2.3 Opportunities
5.2.3.1 Introduction of Digital Trends in the Digital Oilfield
5.2.3.2 Offshore/Ultra-Deep-Water Discoveries
5.2.4 Challenges
5.2.4.1 Engaging New Digital Talent
5.2.4.2 Interoperability of Multiple System Components From Different Solution Providers
6 Digital Oil Field Market, By Solutions (Page No. - 46)
6.1 Introduction
6.2 Hardware Solutions
6.2.1 Distributed Control System (DCS)
6.2.1.1 Reducing Manual Intervention is Driving Force for Distributed Control System
6.2.2 Supervisory Control and Data Acquisition (SCADA)
6.2.2.1 Rising Demand for Big Data Management Will Boost the Demand for SCADA Software
6.2.3 Smart Wells
6.2.3.1 Increasing Drilling Activity in the Ultra-Deep-Water, Offshore, Creates Demand Foe Smart Wells
6.2.4 Safety Systems
6.2.4.1 Stringent Health Safety and Environment Regulations for Oil & Gas Industry Drives Market for Safety Systems
6.2.5 Wireless Sensors
6.2.5.1 Adoption of Digital Technologies for Collecting Big Volumes of Data, Demands Wireless Sensors as Hardware for Oilfield
6.2.6 Programmable Logic Controller (PLC)
6.2.6.1 Software That Can Automate the Electromechanical Processes, Help Companies to Reduce Capital Expenditures
6.2.7 Computer Equipment & Application Hardware
6.2.7.1 Rising Demand for Sensors and Computerized Operability, is Driving Factor for Hardware in Digital Oil Field Market
6.2.8 Process Automation Manager
6.2.8.1 Rising Investments for Adoption of Automated Technologies is Likely to Drive the Market
6.2.9 Human Machine Interaction Instrument
6.2.9.1 Rising Exploration and Production Activities in Harsher Geographies, Require Instruments to Bridge the Human and Machine Interaction
6.3 Software & Service Solutions
6.3.1 It Outsourcing
6.3.1.1 Demand for Improving the Production Capacity Drives It-Outsourcing Segment
6.3.2 Software
6.3.2.1 Increasing Modification Rate of Conventional Oilfields is Driving Demand for Automated Software
6.3.3 It Services & Commissioning
6.3.3.1 Knowledge- and Information-Dependent Services Boosts Consulting Services for Digital Oil Field Development
6.3.4 Collaborative Product Management (CPM)
6.3.4.1 Rising Demand for Tracking Real Time Data Creates Demand for Product Management
6.4 Data Storage Solutions
6.4.1 Hosted
6.4.1.1 Increasing Dependence on Cloud Platform Will Leverage the Data Storage Market
6.4.2 On-Premise
6.4.2.1 Rising Issues of Data Piracy Creates Demand for Protective Data Storage Market
7 Digital Oilfields Market, By Process (Page No. - 55)
7.1 Introduction
7.2 Production Optimization
7.2.1 The Production Optimization Segment is Getting A Boost Due to the Ongoing Market Dynamics
7.3 Drilling Optimization
7.3.1 Optimized Drilling Techniques Have Significantly Reduced Drilling Costs Over Time
7.4 Reservoir Optimization
7.4.1 The Oilfield Operators in the Middle East, North America, and Asia Pacific are Currently Employing Digital Oilfield Technologies to Arrest the Growing Demand for Oil & Gas
7.5 Safety Management
7.5.1 Higher Safety Standard are the Major Concern for Operators, and Can Be Taken Care By Adopting Digital Oilfield Technology
7.6 Others
7.6.1 Other Processes Include Asset Management, and Maintenance & Repair
8 Digital Oilfield Market, By Application (Page No. - 62)
8.1 Introduction
8.2 Onshore
8.2.1 The Onshore Application is Growing at A Faster Pace as the Cost Incurred in Oil & Gas Activities is Less in Onshore When Compared to Offshore Application
8.3 Offshore
8.3.1 The Application of Offshore Segment is Expected to Be Driven By Increasing Deepwater Drilling and Production Activities
9 Digital Oilfields Market, By Region (Page No. - 66)
9.1 Introduction
9.2 Europe
9.2.1 By Process
9.2.2 By Application
9.2.3 By Solutions
9.2.4 By Country
9.2.4.1 Norway
9.2.4.1.1 The Fields are at Verge of Getting Mature and Production May Reduce, This is Likely to Increase the Investment in the Digitalization of Oilfield Developments
9.2.4.2 Russia
9.2.4.2.1 The Country is Planning to Increase the Oil Production From Existing Assets, to Meet the Rising Demand From China and India.
9.2.4.3 UK
9.2.4.3.1 The Declining Oil Production Trend is Creating Opportunities for Digital Oil Field Development to Decrease the Capital Expenditure
9.2.4.4 Rest of Europe
9.3 Asia Pacific
9.3.1 By Process
9.3.2 By Application
9.3.3 By Solutions
9.3.4 By Country
9.3.4.1 China
9.3.4.1.1 The Rising Demand for the Oil Field Services From the Shale Development has Driven the Digital Oil Field Market in China
9.3.4.2 Malaysia
9.3.4.2.1 Malaysia is Focused on Cutting Investments in Overseas Production and Ramping Up the Domestic Production Incorporating Niche Digital Technology to Attain Maximum Profit
9.3.4.3 India
9.3.4.3.1 Supportive Revenue Sharing Contracts and Boosting Exploration Activities to Cut the Exports of Oil is Driving the Digital Oil Field Market
9.3.4.4 Australia
9.3.4.4.1 Targets to Increase the Productivity of the Existing Fields Creates High Opportunities for Digital Oil Fields in Australia
9.3.4.5 Rest of Asia Pacific
9.4 Middle East
9.4.1 By Process
9.4.2 By Application
9.4.3 By Solutions
9.4.4 By Country
9.4.4.1 Oman
9.4.4.1.1 The Government of the Country Plans to Invest More in the Oil & Gas Sector, Expanding the Technologies and Boosting Production By Implementing Artificial Intelligence Hardware and Software
9.4.4.2 Saudi Arabia
9.4.4.2.1 Saudi Aramco Continues the Oil Exploration and Development to Compensate for the Declining Fields, Which Leverages the Implementation of Digital Technologies in Field Development and Production Processes
9.4.4.3 Kuwait
9.4.4.3.1 Oil Companies are Planning to Boost Production and are Investing in Niche Digital Technologies
9.4.4.4 UAE
9.4.4.4.1 The Country has Thus Been Actively Employing Eor and Digital Techniques at Its Large Mature Fields to Increase the Production
9.4.4.5 Rest of the Middle East
9.5 North America
9.5.1 By Process
9.5.2 By Application
9.5.3 By Solutions
9.5.4 By Country
9.5.4.1 US
9.5.4.1.1 Prominent Oil Field Service Providers and Manufacturers in the Country are Expanding Their Revenue Streams By Offering Digital Technologies
9.5.4.2 Canada
9.5.4.2.1 There has Been an Increase in the E&P Activities in Unconventional Formations and in the Offshore Sector of the Country
9.5.4.3 Mexico
9.5.4.3.1 The Liberalization of the Countrys Oil & Gas Industry has Led to Rising Investments in the Digitalization in the Domestic Exploration and Production Sectors.
9.6 Africa
9.6.1 By Process
9.6.2 By Application
9.6.3 By Solutions
9.6.4 By Country
9.6.4.1 Nigeria
9.6.4.1.1 Nigerias Offshore Production is Likely to Gain More Prominence in the Future, Thereby Boosting the Adoption of Digital Oilfield in the Country.
9.6.4.2 Angola
9.6.4.2.1 Growing Upstream Sector and New Technology Adoption in the Country, is Expected to Drive the Growth of the Digital Oilfield in Angola
9.6.4.3 Rest of Africa
9.7 South America
9.7.1 By Process
9.7.2 By Application
9.7.3 By Solutions
9.7.4 By Country
9.7.4.1 Brazil
9.7.4.1.1 Increasing Drilling Rigs, and Boosting Drilling Activities in Santos Basin, Will Drive the Digital Oil Field Market
9.7.4.2 Argentina
9.7.4.2.1 Shale Reserves in the Vaca Muerta Shale Play in the Neuquen Region and Government Support for E&P Activities are Boosting the Adoption of Digital Technologies in the Nation
9.7.4.3 Venezuela
9.7.4.3.1 Increasing Trading Activities are Expected to Drive the Digital Oil Field Market in Venezuela.
9.7.4.4 Rest of South America
10 Competitive Landscape (Page No. - 118)
10.1 Overview
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic
10.2.4 Emerging
10.3 Ranking of Players and Industry Concentration, 2018
10.4 Competitive Scenario
10.4.1 New Product Launches
10.4.2 Contracts & Agreements
10.4.3 Mergers & Acquisitions
10.4.4 Investments & Expansions
10.4.5 Partnerships, Collaborations, Alliances, and Joint Ventures
11 Company Profiles (Page No. - 127)
(Business Overview, Products/Services Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 Schlumberger
11.2 Weatherford
11.3 Bhge
11.4 Halliburton
11.5 National Oilwell Varco
11.6 ABB
11.7 Emerson
11.8 Rockwell
11.9 Siemens
11.10 Honeywell
11.11 Kongsberg
11.13 CGG
11.14 DIGI International
11.15 Pason
11.16 Redline
11.17 EDG
11.18 Oleumtech
11.19 Petrolink
11.20 Katalyst
11.21 IBM
11.22 Accenture
11.23 Oracle
11.24 Intel
11.25 Microsoft
*Business Overview, Products/Services Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 198)
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details
List of Tables (110 Tables)
Table 1 Oilfield Data is the Determining Factor for the Global Digital Oilfield Industry
Table 2 Global Digital Oilfield Market Snapshot
Table 3 Market Size, By Solutions, 20172024 (USD Billion)
Table 4 Hardware Solution: Market Size, By Region, 20172024 (USD Billion)
Table 5 Market Size, By Hardware Components, 20172024 (USD Billion)
Table 6 Software & Service Solutions: Market Size, By Region, 20172024 (USD Billion)
Table 7 Software & Service Solutions Market Size, By Components, 20172024 (USD Billion)
Table 8 Data Storage Solutions: Market, By Region, 20172024 (USD Billion)
Table 9 Data Storage Solutions: Market Size, By Components, 20172024 (USD Billion)
Table 10 Digital Oilfields Market Size, By Process, 20172024 (USD Billion)
Table 11 Production Optimization: Market Size, By Region, 20172024 (USD Billion)
Table 12 Drilling Optimization: Market Size, By Region, 20172024 (USD Billion)
Table 13 Reservoir Optimization: Market Size, By Region, 20172024 (USD Billion)
Table 14 Safety Management: Market Size, By Region, 20172024 (USD Billion)
Table 15 Others: Market Size, By Region, 20172024 (USD Billion)
Table 16 Digital Oilfields Market Size, By Application, 20172024 (USD Billion)
Table 17 Onshore: Market Size, By Region, 20172024 (USD Billion)
Table 18 Offshore: Market Size, By Region, 20172024 (USD Billion)
Table 19 Digital Oilfields Market Size, By Region, 20172024 (USD Billion)
Table 20 Europe: Digital Oilfields Market Size, By Process, 20172024 (USD Billion)
Table 21 Europe: Market Size, By Application, 20172024 (USD Billion)
Table 22 Europe: Market Size, By Solutions, 20172024 (USD Billion)
Table 23 Europe: Hardware Solutions Market Size, By Country, 20172024 (USD Billion)
Table 24 Europe: Software & Service Solutions Market Size, By Country, 20172024 (USD Billion)
Table 25 Europe: Data Storage Solutions Market Size, By Country, 20172024 (USD Billion)
Table 26 Europe: Market Size, By Country, 20172024 (USD Billion)
Table 27 Norway: Market Size, By Application, 20172024 (USD Billion)
Table 28 Norway: Market Size, By Solutions, 20172024 (USD Billion)
Table 29 Russia: Market Size, By Application, 20172024 (USD Billion)
Table 30 Russia: Market Size, By Solutions, 20172024 (USD Billion)
Table 31 UK: Market Size, By Application, 20172024 (USD Billion)
Table 32 UK: Market Size, By Solutions, 20172024 (USD Billion)
Table 33 Rest of Europe: Market Size, By Application, 20172024 (USD Billion)
Table 34 Rest of Europe Market Size, By Solutions, 20172024 (USD Billion)
Table 35 Asia Pacific: Digital Oilfields Market Size, By Process, 20172024 (USD Billion)
Table 36 Asia Pacific: Market Size, By Application, 20172024 (USD Billion)
Table 37 Asia Pacific: Market Size, By Solutions, 20172024 (USD Billion)
Table 38 Asia Pacific: Hardware Solutions Market Size, By Country, 20172024 (USD Billion)
Table 39 Asia Pacific: Software & Service Solutions Market Size, By Country, 20172024 (USD Billion)
Table 40 Asia Pacific: Data Storage Solutions Market Size, By Country, 20172024 (USD Billion)
Table 41 Asia Pacific: Market Size, By Country, 20172024 (USD Billion)
Table 42 China: Market Size, By Application, 20172024 (USD Billion)
Table 43 China: Market Size, By Solutions, 20172024 (USD Billion)
Table 44 Malaysia: Market Size, By Application, 20172024 (USD Billion)
Table 45 Malaysia: Market Size, By Solutions, 20172024 (USD Billion)
Table 46 India: Market Size, By Application, 20172024 (USD Billion)
Table 47 India: Market Size, By Solutions, 20172024 (USD Billion)
Table 48 Australia: Market Size, By Application, 20172024 (USD Billion)
Table 49 Australia: Market Size, By Solutions, 20172024 (USD Billion)
Table 50 Rest of Asia Pacific: Market Size, By Application, 20172024 (USD Billion)
Table 51 Rest of Asia Pacific: Market Size, By Solutions, 20172024 (USD Billion)
Table 52 Middle East: Digital Oilfields Market Size, By Process, 20172024 (USD Billion)
Table 53 Middle East: Market Size, By Application, 20172024 (USD Billion)
Table 54 Middle East: Market Size, By Solutions, 20172024 (USD Billion)
Table 55 Middle East: Hardware Solutions Market Size, By Country, 20172024 (USD Billion)
Table 56 Middle East: Software & Service Solutions Market Size, By Country, 20172024 (USD Billion)
Table 57 Middle East: Data Storage Solutions Market Size, By Country, 20172024 (USD Billion)
Table 58 Middle East: Market Size, By Country, 20172024 (USD Billion)
Table 59 Oman: Market Size, By Application, 20172024 (USD Billion)
Table 60 Oman: Market Size, By Solutions, 20172024 (USD Billion)
Table 61 Saudi Arabia: Market Size, By Application, 20172024 (USD Billion)
Table 62 Saudi Arabia: Market Size, By Solutions, 20172024 (USD Billion)
Table 63 Kuwait: Market Size, By Application, 20172024 (USD Billion)
Table 64 Kuwait: Market Size, By Solutions, 20172024 (USD Billion)
Table 65 UAE: Market Size, By Application, 20172024 (USD Billion)
Table 66 UAE: Market Size, By Solutions, 20172024 (USD Billion)
Table 67 Rest of the Middle East: Market Size, By Application, 20172024 (USD Billion)
Table 68 Rest of the Middle East: Market Size, By Solutions, 20172024 (USD Billion)
Table 69 North America: Digital Oilfields Market Size, By Process, 20172024 (USD Billion)
Table 70 North America: Market Size, By Application, 20172024 (USD Billion)
Table 71 North America: Market Size, By Solutions, 20172024 (USD Billion)
Table 72 North America: Hardware Solutions Market Size, By Country, 20172024 (USD Billion)
Table 73 North America: Software & Service Solutions Market Size, By Country, 20172024 (USD Billion)
Table 74 North America: Data Storage Solutions Market Size, By Country, 20172024 (USD Billion)
Table 75 North America: Market Size, By Country, 20172024 (USD Billion)
Table 76 US: Market Size, By Application, 20172024 (USD Billion)
Table 77 US: Market Size, By Solutions, 20172024 (USD Billion)
Table 78 Canada: Market Size, By Application, 20172024 (USD Billion)
Table 79 Canada: Market Size, By Solutions, 20172024 (USD Billion)
Table 80 Mexico: Market Size, By Application, 20172024 (USD Billion)
Table 81 Mexico: Market Size, By Solutions, 20172024 (USD Billion)
Table 82 Africa: Digital Oilfields Market Size, By Process, 20172024 (USD Billion)
Table 83 Africa: Market Size, By Application, 20172024 (USD Billion)
Table 84 Africa: Market Size, By Solutions, 20172024 (USD Billion)
Table 85 Africa: Hardware Solutions Market Size, By Country, 20172024 (USD Billion)
Table 86 Africa: Software & Service Solutions Market Size, By Country, 20172024 (USD Billion)
Table 87 Africa: Data Storage Solutions Market Size, By Country, 20172024 (USD Billion)
Table 88 Africa: Market Size, By Country, 20172024 (USD Billion)
Table 89 Nigeria: Market Size, By Application, 20172024 (USD Billion)
Table 90 Nigeria: Market Size, By Solutions, 20172024 (USD Billion)
Table 91 Angola: Market Size, By Application, 20172024 (USD Billion)
Table 92 Angola: Market Size, By Solutions, 20172024 (USD Billion)
Table 93 Rest of Africa: Market Size, By Application, 20172024 (USD Billion)
Table 94 Rest of Africa: Market Size, By Solutions, 20172024 (USD Billion)
Table 95 South America: Digital Oilfields Market Size, By Process, 20172024 (USD Million)
Table 96 South America: Market Size, By Application, 20172024 (USD Million)
Table 97 South America: Market Size, By Solutions, 20172024 (USD Million)
Table 98 South America: Hardware Solutions Market Size, By Country, 20172024 (USD Million)
Table 99 South America: Software & Service Solutions Market Size, By Country, 20172024 (USD Million)
Table 100 South America: Data Storage Solutions Market Size, By Country, 20172024 (USD Million)
Table 101 South America: Market Size, By Country, 20172024 (USD Million)
Table 102 Brazil: Market Size, By Application, 20172024 (USD Million)
Table 103 Brazil: Market Size, By Solutions, 20172024 (USD Million)
Table 104 Argentina: Market Size, By Application, 20172024 (USD Million)
Table 105 Argentina: Market Size, By Solutions, 20172024 (USD Million)
Table 106 Venezuela: Market Size, By Application, 20172024 (USD Million)
Table 107 Venezuela: Market Size, By Solutions, 20172024 (USD Million)
Table 108 Rest of South America: Market Size, By Application, 20172024 (USD Million)
Table 109 Rest of South America: Market Size, By Solutions, 20172024 (USD Million)
Table 110 CGG to Be the Most Active Player in the Market Between 2016 and 2018
List of Figures (46 Figures)
Figure 1 Digital Oilfields Market
Figure 2 Europe Dominated the Digital Oilfields Market in 2018
Figure 3 The Production Optimization Segment is Expected to Dominate the Digital Oilfields Market During the Forecast Period
Figure 4 The Hardware Solutions Segment is Expected to Dominate the Digital Oilfields Market During the Forecast Period
Figure 5 DCS Component Dominated the Hardware Solutions Segment of the Digital Oilfields Market in 2018
Figure 6 On-Premise Segment is Expected to Dominate the Data Storage Solutions Segment During the Forecast Period
Figure 7 Onshore Segment is Expected to Dominate the Digital Oilfields Market During the Forecast Period
Figure 8 Top Market Developments (20142019)
Figure 9 New Technological Advancements are Expected to Drive the Digital Oilfields Market in the Future
Figure 10 Saudi Arabia is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Norway Held the Largest Share of the European Digital Oilfields Market in 2018
Figure 12 Production Optimization is Expected to Grow at the Highest Rate During the Forecast Period
Figure 13 Hardware Solutions Segment is Expected to Lead the Market During the Forecast Period
Figure 14 Onshore Segment is Expected to Dominate the Digital Oilfields Market During the Forecast Period
Figure 15 Market Dynamics: Digital Oilfields Market
Figure 16 World Crude Oil Annual Production vs Consumption, 20122017
Figure 17 Digital Oilfields Market, By Solutions, 20192024 (USD Billion)
Figure 18 Market, By Process, 20192024 (USD Billion)
Figure 19 Market, By Application, 20192024 (USD Billion)
Figure 20 Global Oil & Gas Upstream Capital Spending Trends (USD Billion), 20142018
Figure 21 Europe Dominated the Digital Oilfields Market in 2018
Figure 22 Digital Oilfields Market Size, By Region, 20192024 (USD Billion)
Figure 23 Europe: Market Snapshot
Figure 24 Key Developments in the Digital Oilfields Market, 20162019
Figure 25 Digital Oilfields Market (Global) Competitive Leadership Mapping, 2018
Figure 26 Top Players in the Digital Oilfields Market in 2018
Figure 27 Schlumberger: Company Snapshot
Figure 28 Weatherford: Company Snapshot
Figure 29 Bhge: Company Snapshot
Figure 30 Halliburton: Company Snapshot
Figure 31 National Oilwell Varco: Company Snapshot
Figure 32 ABB: Company Snapshot
Figure 33 Emerson: Company Snapshot
Figure 34 Rockwell: Company Snapshot
Figure 35 Siemens: Company Snapshot
Figure 36 Honeywell: Company Snapshot
Figure 37 Kongsberg: Company Snapshot
Figure 38 CGG: Company Snapshot
Figure 39 DIGI International: Company Snapshot
Figure 40 Pason: Company Snapshot
Figure 41 Redline: Company Snapshot
Figure 42 IBM: Company Snapshot
Figure 43 Accenture: Company Snapshot
Figure 44 Oracle: Company Snapshot
Figure 45 Intel: Company Snapshot
Figure 46 Microsoft: Company Snapshot
This study involved 4 major activities in estimating the current market size for digital oil fields. Exhaustive secondary research was done to collect information on the market and peer market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. Thereafter, the market breakdown and data triangulation were done to estimate the market size of the segments and subsegments.
Secondary Research
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global digital oilfield market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The digital oilfield comprises several stakeholders such as service providers, contractors, and third-party vendors. The demand side of this market is characterized by huge demand for digitalization from operators/service providers. The supply side is characterized by advancements in new technology in oilfields. Various primary sources from both, the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as following
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global digital oilfields market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research and their market shares in the respective regions have been determined through both primary and secondary research.
- The industrys supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market sizeusing the market size estimation processes as explained abovethe market was split into segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.
Report Objectives
- To define, describe, and forecast the global digital oilfields market by process, application, solution, and region
- To provide detailed information on the major factors influencing the growth of the digital oil field market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, prospects, and contribution of each segment to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
- To forecast the growth of the market with respect to the major regions (Asia Pacific, Europe, Americas, and The Middle East and Africa)
- To strategically profile key players and comprehensively analyze their market share and core competencies
- To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
Regional Analysis
Further breakdown of region or country-specific analysis
Company Information
Detailed analyses and profiling of additional market players (up to 5)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Digital Oilfield Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Digital Oilfield Market