Global Digital Oilfield Market 2018-2022| The Rising Rig Count to Drive Growth| Technavio
The global digital oilfield market is expected to post a CAGR of nearly 5%
during the period 2018-2022, according to the latest market research
report by Technavio.
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Technavio has released a new market research report on the global digital oilfield market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the rise in rig count.
The operation facilities in most of the industries, including oil and
gas have evolved with the emergence of digital technologies. Advantages
like cost savings, increased productivity, and safer operations can be
achieved through digitization of the oil and gas industry. The adoption
of digital technology helped provide the required resilience against the
downturns of the industry even when the oil and gas industry witnessed a
downturn in the industry due to weak oil prices.
This market research report on the global
digital oilfield market 2018-2022 also provides an analysis of
the most important trends expected to impact the market outlook during
the forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
In this report, Technavio highlights the increasing applications of
digital oilfields as one of the key emerging trends in the global
digital oilfield market:
Global digital oilfield market: Increasing
applications of digital oilfields
Globally, the increasing demand for hydrocarbon fuel is putting pressure
on the oil and gas industry. However, the oil and gas companies are not
able to cater to the demand due to the complexity in hydrocarbon
extraction. Even though the exploitation of shale gas has been enabled
due to the high cost of imported fossil fuels, the exploration and
production companies need to go deeper and farther to locate new oil and
gas fields.
“Companies need to increasingly invest to maintain safety in the
processes and provide transparency in the process owing to the increased
regulations and operational guidelines. Hence, the need for digital
oilfields is increasing. Digital oilfield systems allow better
management of the plants, with more reliable and accurate performances
management when compared with manually monitored management,” says a
senior analyst at Technavio for research on oil and gas.
Global digital oilfield market: Segmentation
analysis
This market research report segments the global digital oilfield market
by technology (services, software, and hardware) and geographical
regions (APAC, EMEA, and the Americas).
The services segment held the largest market share in 2017, accounting
for nearly 40% of the market. This segment is expected to dominate the
global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 46%.
This region is expected to dominate the market through 2022, with over
1% increase in its market share.
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Some of the key topics covered in the report include:
Market Landscape
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Market ecosystem
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Market characteristics
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Market segmentation analysis
Market Sizing
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Market definition
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Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Regional comparison
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Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
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