January 18, 2017 - 2:23 PM EST
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Top 5 Vendors in the Global Smart Well Market from 2017-2021: Technavio

Technavio has announced the top five leading vendors in their recent global smart well market report until 2021. This research report also lists ten other prominent vendors that are expected to impact the market during the forecast period.

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Technavio has published a new report on the global smart well market from 2017-2021. (Graphic: Busin ...

Technavio has published a new report on the global smart well market from 2017-2021. (Graphic: Business Wire)

The global smart well market is forecast to grow at a CAGR of over 4%, with the Americas occupying a majority of the market share. Migration of drilling into unconventional areas is one of the key drivers of this market.

Oil companies are managing unconventional oil and gas resource, which require advanced on-site processing and drilling equipment to ensure enhanced oil recovery. The smart well technologies play a crucial role in maintaining the financial stability as well as improving the drilling activity by providing necessary real-time details of the oilfield,” says Thanikachalam Chandrasekaran, one of the lead analysts at Technavio for oil and gas research.

Competitive vendor landscape

The smart well market is directly linked to the oil and gas industry. The depleting oil wells have brought forth innovative technologies to ensure maximum oil recovery, giving rise to systems like the smart well. The majority of the market share is occupied by the large players, and these players adopt multiple strategies to gain a competitive advantage over other players in the market.

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Top five vendors in the global smart well market:

Baker Hughes

Baker Hughes is involved in the design, manufacture, and distribution of wellbore related to oil and gas reservoirs with high-performance drilling, evaluation, technologies, reservoir consulting services, and integrated operations. It provides field development and production enhancement services, such as well stimulation, sand control, cementing, completion tools, downhole tools, casing and tubular running services for oil and natural gas wells.


Halliburton is one of the world's largest service companies engaged in the exploration, development, and production of oil and natural gas. It operates through completion and production, which delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services, and the drilling and evaluation division, which offers drilling, evaluation, and precise wellbore placement solutions.

National Oilwell Varco

National Oilwell Varco provides components and equipment used in the oil and gas drilling industry. The company operates its business through rig systems, wellbore technologies, completion and production solutions, and rig aftermarket segments. The company has established a presence in the oilfield services market with its range of offerings such as completion services, drilling fluids, mining and minerals, mud chillers, portable power, solids control, waste management, and water services.


Schlumberger is one of the world’s largest oilfield services companies with a variety of business units. The company provides a varied range of services including seismic surveys, formation evaluation, drilling technologies and equipment, cementing, well construction and completion, and project management. It also provides reservoir evaluation and development and management services and is developing new technologies for reservoir optimization.

Weatherford International

Weatherford International provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. It is one of the world's largest international oil and natural gas service companies. Weatherford International has established a presence in the oilfield services market. Some of its offerings include managed-pressure drilling, drilling services, tubular running services, drilling Tools, integrated Drilling, wireline Services, re-entry and Fishing Services, artificial Lift Systems, stimulation, and completion Systems.

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About Technavio

Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Source: Business Wire (January 18, 2017 - 2:23 PM EST)

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