September 4, 2018 - 2:49 PM EDT
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Global Oil and Gas Drilling Automation Market 2018-2022| Rising Focus on Data to Drive Growth| Technavio

LONDON

Technavio market research analysts forecast the global oil and gas drilling automation market to post a revenue of about USD 83.25 million by 2022.

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Technavio has published a new market research report on the global oil and gas drilling automation m ...

Technavio has published a new market research report on the global oil and gas drilling automation market from 2018-2022. (Photo: Business Wire)

The growing focus on data in the oil and gas industry is one of the major trends being witnessed in the global oil and gas drilling automation market 2018-2022. Data has become a new source for the oil and gas industry to explore and produce cost-effective hydrocarbon resources while addressing safety and environmental concerns. The oil and gas companies are shifting toward big data due to the focus on analytics.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

According to Technavio’s analysts, one of the key factors contributing to the growth of the global oil and gas drilling automation market is the rising complexity in drilling operations:

Global oil and gas drilling automation market: Rising complexity in drilling operations

Owing to the depleting fossil fuel sources, the oil and gas companies are forced to locate to complex terrains for oil and gas explorations where drilling operations are difficult to sustain because of the harsh operating environment. In such conditions, a project must undergo a great level of analysis and testing for it to become commercially viable.

According to a senior research analyst at Technavio, “Offshore oil and gas exploration has been increasing due to the rise in deepwater drilling activities. For instance, in 2018, the auctions for deepwater oil and gas fields in Mexico received good response from oil and gas companies. Apart from this, the rise in unconventional hydrocarbon resources such as shale gas and oil and oil tar sands has led to an increase in opportunities for oil and gas companies.”

Global oil and gas drilling automation market: Segmentation analysis

The global oil and gas drilling automation market research report provide market segmentation by application (onshore and offshore) and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the two major applications, the onshore segment held the largest market share in 2017, accounting for about 65% of the market. This application segment will dominate the global market throughout the forecast period.

The Americas held the largest share of the market in 2017, accounting for close to 46% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (September 4, 2018 - 2:49 PM EDT)

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