Market Overview:
The global digital oilfield market is expected to grow from USD 9.02 billion in 2018 to USD 21.01 billion by 2030, at a CAGR of 10.5% from 2018 to 2030. The growth of the global digital oilfield market can be attributed to the increasing demand for crude oil and natural gas, rising adoption of advanced technologies in the oil and gas industry, and growing concerns over environmental pollution caused by traditional methods of hydrocarbon production. However, volatility in crude oil prices may restrain the growth of this market during the forecast period. Based on type, the global digital oilfield market is segmented into reservoir optimization, drilling optimization, production optimization, and others (including pipeline integrity management and subsurface imaging). The reservoir optimization segment is projected to lead the global digital oilfield market during the forecast period owing to its ability to improve hydrocarbon recovery rates through enhanced data analysis capabilities for improved decision-making processes related to well placement strategies and fluid injection plans. Based on application,the global digitaloil fieldmarketis segmented into onshoreand offshore applications.
Product Definition:
A digital oilfield is a platform that enables the remote monitoring and control of oil and gas production assets. The importance of a digital oilfield is that it allows companies to optimize production, reduce costs, and improve safety.
Reservoir Optimization:
Reservoir optimization is the process of modifying a reservoir's operating characteristics to improve production. It includes techniques such as fluid characterization, formation evaluation, and measurement of parameters such as resistivity and conductivity. The main goal is to optimize the production from existing reservoirs by making changes in various operational aspects including well placement, reservoir management (stimulation), fracturing type & quantity among others.
Drilling Optimization:
Drilling optimization is the use of advanced technologies to improve drilling performance and reduce cost. It includes techniques such as 3D seismic, 4D & 5D drilling technology, intelligent mud pulse systems, high-speed cameras and other innovative technologies that help in reducing time consumption during exploration process.
The digital oilfield market is expected to witness significant growth over the forecast period owing to factors such as increasing demand for crude oil.
Application Insights:
Onshore was the largest application segment in 2017 and is expected to maintain its dominance over the forecast period. The growth of this application can be attributed to increasing onshore exploration activities in North America and Europe. Furthermore, growing demand for crude oil from onshore fields due to low cost of production is also expected to contribute significantly towards the growth of this segment.
The offshore segment is anticipated to register a significant CAGR over the forecast period owing to rising investments by various companies including BP plc, Statoil ASA, Repsol SACOEF PLC and Total S.A., etc., for developing new offshore fields particularly in Latin America & Asia Pacific regions.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its dominance over the forecast period as well. This can be attributed to increasing onshore oil production in the U.S., which has been one of the major factors behind rising crude oil production across North America since 2015, thereby driving demand for digital oilfield solutions across this region.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rapid development of offshore basins and unexplored potential of deepwater fields in countries such as China, India, Indonesia and Malaysia among others.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investments in exploration and production activities by oil and gas companies
- Proliferation of new technologies such as cloud, big data, analytics, mobility etc. that are enhancing the efficiency of the digital oilfield operations
- Growing inclination of consumers towards environment-friendly fuel sources such as natural gas
- Stringent government regulations encouraging the adoption of digital oilfield technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Oilfield Market Research Report
By Type
Reservoir Optimization, Drilling Optimization, Production Optimization, Others
By Application
Onshore, Offshore
By Companies
Benchmarking, Schlumberger, Weatherford, BHGe, Halliburton, National Oilwell Varco, ABB, Emerson, Rockwell, Siemens, Honeywell, Kongsberg, IHS Markit, CGg, Digi International, Pason, Redline, EDg, OleumtecH, Petrolink, Katalyst
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
144
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.
Global Digital Oilfield Market Report Segments:
The global Digital Oilfield market is segmented on the basis of:
Types
Reservoir Optimization, Drilling Optimization, Production Optimization, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Benchmarking
- Schlumberger
- Weatherford
- BHGe
- Halliburton
- National Oilwell Varco
- ABB
- Emerson
- Rockwell
- Siemens
- Honeywell
- Kongsberg
- IHS Markit
- CGg
- Digi International
- Pason
- Redline
- EDg
- OleumtecH
- Petrolink
- Katalyst
Highlights of The Digital Oilfield Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Reservoir Optimization
- Drilling Optimization
- Production Optimization
- Others
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Digital Oilfield Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Digital oilfield is a term used to describe the use of digital technologies in the oil and gas industry. These technologies can include things like remote sensing, data analytics, and artificial intelligence. They are often used to improve drilling operations or help identify potential resources.
Some of the major players in the digital oilfield market are Benchmarking, Schlumberger, Weatherford, BHGe, Halliburton, National Oilwell Varco, ABB, Emerson, Rockwell, Siemens, Honeywell, Kongsberg, IHS Markit, CGg, Digi International, Pason, Redline, EDg, OleumtecH, Petrolink, Katalyst.
The digital oilfield market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digital Oilfield Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Digital Oilfield Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Digital Oilfield Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Digital Oilfield Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Digital Oilfield Market Size & Forecast, 2020-2028
4.5.1 Digital Oilfield Market Size and Y-o-Y Growth
4.5.2 Digital Oilfield Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Reservoir Optimization
5.2.2 Drilling Optimization
5.2.3 Production Optimization
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Digital Oilfield Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Digital Oilfield Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Reservoir Optimization
9.6.2 Drilling Optimization
9.6.3 Production Optimization
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Reservoir Optimization
10.6.2 Drilling Optimization
10.6.3 Production Optimization
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Reservoir Optimization
11.6.2 Drilling Optimization
11.6.3 Production Optimization
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Reservoir Optimization
12.6.2 Drilling Optimization
12.6.3 Production Optimization
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Reservoir Optimization
13.6.2 Drilling Optimization
13.6.3 Production Optimization
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Digital Oilfield Market: Competitive Dashboard
14.2 Global Digital Oilfield Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Benchmarking
14.3.2 Schlumberger
14.3.3 Weatherford
14.3.4 BHGe
14.3.5 Halliburton
14.3.6 National Oilwell Varco
14.3.7 ABB
14.3.8 Emerson
14.3.9 Rockwell
14.3.10 Siemens
14.3.11 Honeywell
14.3.12 Kongsberg
14.3.13 IHS Markit
14.3.14 CGg
14.3.15 Digi International
14.3.16 Pason
14.3.17 Redline
14.3.18 EDg
14.3.19 OleumtecH
14.3.20 Petrolink
14.3.21 Katalyst
