This Operational Digital Oilfield Solution market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Operational Digital Oilfield Solution market.
Operational digital oilfield solution is a combination of business process management and advance information technology, with the initiative to maximize oilfield recovery. The new digital oilfield concept will eliminate non-productive time and increase productivity by deploying integrated workflows. Operational digital oilfield market includes “Intelligent Wells” which have fiber-optic sensors buried in the drilling apparatus that are being controlled manually by the operators on site or sometimes controlled automatically through closed loop information systems. These fiber- optic sensors transmit a constant stream of data about the oil wells and its environment. The digital oilfields also have “advance alarming” system which predict the performance levels and provide an early indication in case of potential equipment failure.
Operational digital oilfield solution concept has brought a revolutionary change in the oilfield market and is projected to grow at an increasing pace in coming years. Some of the major benefits of this concept include operational efficiency, production optimization, collaboration, decision support, data integration and workflow automation. The operational digital oilfield solution market caters to various stakeholders such as oilfield operators, exploration companies, government & research organizations, energy associations, private equity investors, and environment research institutes.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Demand for operational digital oilfield solutions is increasing due to limited oil or fuel supply to the growing number of vehicles in the market which is forcing the oil industry to adopt new and improved technology. Apart from this, shortage of skilled labor in the oil industry has been a major problem faced by the industry over the last few years. Introduction of digital oilfield solution will help oil industry to eliminate such problems. Rapid urbanization and growing dependency on digital medium is also one of the major factors which is driving the growth of digital oil field market.
The key issue in implementing the digital oil field technology at field level of the organization is the restriction issues of the operating personnel. It is an entirely novel method of operation in oilfields and requires proper education and training to the employees for updating them on time to time basis.
Global Operational Digital Oilfield Solution Market: Segmentation
The global operational digital oilfield market can be segmented as follows:
Global Digital Oilfield Solution Market: Regional Outlook
Geographically, digital oilfield solutionmarket can be divided in major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japanand the Middle East and Africa (MEA).MEA with its low oil production cost as compared with current prevailing oil prices of other regions is anticipated to dominate the global operational digital oilfield solutions market in terms of value during the forecast period.
Global Digital Oilfield SolutionMarket: Key Players
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.
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Global Operational Digital Oilfield SolutionMarket, by Service
- Automation & Instrumentation
- Distributed Control System
- Supervisory Control And Data Acquisition (SCADA)
- Smart Well
- Safety System
- Wireless Sensor
- Programmable Logic Controller (PLC)
Global Operational Digital Oilfield Solution Market, byProcess
- Production Optimization.
- Drilling Optimization.
- Reservoir Optimization.
- Others (Asset management, Safety Management, Maintenance & repair)
The key players in global digital oilfield solution market are:
- Schlumberger Limited
- Halliburton Company
- Baker Hughes Incorporated
- National Oil well Varco, Inc.
- Weatherford International PLC
- Paradigm Limited
- HIS Inc.
- Point cross Inc.
- Katalyst Data Management
- Rockwell automation
- Siemens AG
- Pason system, Inc.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis include
- North America (U.S., Canada)
- Latin America (Brazil, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic countries)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- The Middle East and Africa (GCC countries, S. Africa, Rest Of MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprints
Frequently Asked Questions
What research methodology is used to develop the Operational Digital Oilfield Solution Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Operational Digital Oilfield Solution Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Operational Digital Oilfield Solution Market report?
In addition to up-to-date market figures and customized of the Operational Digital Oilfield Solution Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.