Digital Oilfield Market Outlook 2019 – Industry Statistics Analysis by 2025

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2019 Digital Oilfield Market Growth Trends
Analysis Report 2025
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Global Market Scenario of Digital Oilfield
Industry

• Digital Oilfield Market is set to grow over USD
  39 billion by 2025. Technological advancement
  coupled with increasing awareness pertaining to
  the potential of digitalized solutions empowered
  with advanced analytics, cloud computing and
  Internet of Things (IoT) will accelerate the
  business growth. Ongoing promotions amongst the
  industry through Fourth Industrial Revolution or
  Industry 4.0 along with respective government
  measures toward enhancing the domestic technology
  capabilities will complement the business
  outlook.
• Growing need for economic recovery of hydrocarbon
  resources along with increasing number of mature
  fields will propel the digital oilfield market
  growth. Romania and Russia are set to witness
  increasing deployments owing to a large number of
  mature oilfields across the region. Various
  enhanced oil recovery methods are being actively
  used to boost the declining production.
  Innovative solutions including well testing
  facilities and reservoir management will allow
  the operators to save cost on performing
  expensive recovery methods.
• The digital oilfield market share is set to grow
  on account of recovering oil prices and rising
  exploration and production activities. Rapid
  discoveries of new oilfields along with
  increasing rig count will enhance the industry
  outlook. For instance, in 2018 the U.S. rig count
  increased to 945 when compared to 900 in 2017.

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Continue-

• Economic dependency on oil and gas trade and
  production coupled with prevailing need for
  transformation of business operations will propel
  the Middle East digital oilfield market. Kuwait
  and Saudi Arabia is set to drive the industry
  growth on account of massive investment toward
  digitalization. In order to boost their oil
  recovery and maximize return the companies are
  using new technologies.
• Some of the key investors present across the
  region include Saudi Aramco, Abu Dhabi National
  Oil Company and Kuwait Oil Company. For instance,
  in 2019, the Kuwait Oil Company launched the
  phase two of the KwIF project integrating the
  operations with real time surveillance, modelling
  and field assets.

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Asia Pacific Digital Oilfield Market Size, By
Process, 2018 2025 (USD Million)
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exchanger-market
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360 Industry Analysis

• Requirement of large capital investments along
  with growing need for strategically planned
  drilling operations will foster the digital
  oilfield market by drilling optimization.
  Increasing well complexity and low oil prices are
  the prime factor instigating the requirement of
  advance drilling solutions. In addition, it
  further offers enhanced safety, reduce drilling
  risk, minimize nonproductive time while provide
  guidance for the project that are likely to boost
  its adoption.
• Declining technology cost along with growing
  industry merger acquisition will drive the
  digital oilfield market size by information
  technology. In addition, growing integration of
  technology and business strategies are compelling
  the oil and gas companies to innovate and develop
  extensive IT infrastructure and services.

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Industry Background
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• Competitive Analysis
• Halliburton,
• Schlumberger
• Weatherford
• ABB
• Rockwell
• Siemens
• General Electric
• National Oil Varco
• Kuwait Oil Company
• Accenture
• Schneider
• Infosys
• Browse Complete Summary of this report _at_
  https//www.gminsights.com/industry-analysis/digit
  al-oilfield-market

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