Oilfield Communications Market

New Product Developments to Achieve Growth in the global Oilfield Communications Market.

Oilfield communications is defined as the technology used to gather data and information from field sites and transmit it through a communication network as required by the oil and gas industry. Oilfield communications technologies and solutions enable communication between oilfield sites and offices with reduced time and cost. The oilfield communications market is segmented on the basis of components, solutions, communication network technology, field sites, services, and regions. By solution, the oilfield communications market is broadly segmented into M2M communication, asset performance communication, unified communication, VoIP solutions, Wi-Fi hotspot, video conferencing, pipeline SCADA, fleet management communication, and oilfield to control center data communication. The communication network technology market is further subdivided into five segments: cellular communication network, VSAT network, fiber optic-based communication network, microwave communication network, and TETRA network. MarketsandMarkets forecasts the global oilfield communications market to grow from USD 3.05 Billion in 2017 to USD 4.46 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.9%. Integration of departments and increasing significance of cyber security in the oil and gas industry are some of the major driving factors of the oilfield communications market.

The key players in the oilfield communications market include Huawei Technologies Co. Ltd. (Guangdong, China), Siemens AG (Munich, Germany), SpeedCast International Limited (Hong Kong, China), ABB Ltd. (Zurich, Switzerland), CommScope (North Carolina, US), Inmarsat Plc (London, UK), Tait Communications (Christchurch, New Zealand), Baker Hughes Incorporated (Texas, US), Alcatel-Lucent S.A. ( Boulogne-Billancourt, France), Ceragon Networks Ltd. (New Jersey, US), RAD Data Communications, Inc. (Tel Aviv, Israel), RigNet Incorporated (Texas, US), Hughes Network Systems (Maryland, US), Airspan Networks (Florida, US), and Commtel Networks, Inc. (Mumbai, India). These players have adopted various strategies such as partnerships, agreements, mergers and acquisitions, and new product developments to achieve growth in the global oilfield communications market.

Huawei Technologies operates in the global information and communications technology environment with its business presence in more than 170 countries. Huawei Technologies has classified its offering in oilfield communication into three major solutions: digital oilfield, digital pipeline, and intelligent refineries. The company has been investing heavily in its Research and Development (R&D) activities in order to strengthen its capabilities and competencies in its core business. For instance, Huawei invested 14.2% and 15.1% of its total revenue in R&D during fiscal 2014 and 2015, respectively. This clearly describes that the company is focused on improving its current offerings to hold its position in the highly competitive market.

SpeedCast International Limited is one of the prominent global networks and satellite communications service provider. The company caters to different communication services in the oilfield communication market based on different oilfield operations. Major connectivity solution includes broadband services, cellular backhaul, FlyCast, managed network services, mobile satellite services, private networks, SeaCast, SIGMA, and VSAT. The company has classified its communication operations on the basis of connectivity, value added services, and professional services. The company also focuses on expanding its geographical presence to support the growing customer base. For instance, in March 2017, SpeedCast opened a new office in Port Moresby, Papua New Guinea (PNG). Similarly, the company has entered into partnerships, agreements, and joint ventures to broaden its business operation in regions such as Europe, Africa, and Asia.

Related Reports:

Oilfield Communications Market by Solution, Communication Network Technology (Cellular Communication, VSAT, Fiber Optic, Microwave, and Tetra Network), Field Site, Service, and Region - Global Forecast to 2022

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