Market Overview:
The global digital oilfield services market is expected to grow at a CAGR of 9.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe, coupled with the rising adoption of digital oilfield services by various end-use industries. Based on type, the global digital oilfield services market is segmented into reservoir optimization, production optimization, and drilling optimization. Of these, reservoir optimization is expected to account for a major share of the global market in terms of revenue during the forecast period. This can be attributed to factors such as increased efficiency in production and reduced downtime owing to better well control and optimized field operations through real-time data analysis and interpretation. Based on application, the global digital oilfield services market is segmented into oil exploration companies and oil production companies. Oil exploration companies are anticipated to hold a larger share of this market in terms of revenue during 2018–2030 owing to an increase in drilling activities for new reserves aroundthe world . However , th e oi l product ion comp anies are ex pected t o witness rapid g rowth du e t o th e increasin g demand f or petroleum products across various end-use industries .
Product Definition:
A digital oilfield service is a type of software that helps companies in the oil and gas industry manage their resources and operations more efficiently. This type of software can help companies track production, optimize drilling processes, and manage other aspects of their business. Digital oilfield services are important because they can help companies reduce costs and increase efficiency.
Reservoir Optimization:
Reservoir optimization is the process of modifying a reservoir's performance by controlling various physical parameters such as temperature, pressure and fluid chemistry. The main objective of optimizing a reservoir is to increase the production from it without causing any environmental or safety issues.
The global digital oilfield services market has witnessed significant growth over the past few years owing to technological advancements in data analytics and automation along with growing adoption of cloud computing solutions across different industry verticals including oil & gas.
Production Optimization:
Production optimization is the process of designing and implementing solutions that help to increase the efficiency of oil & gas operations. It helps in increasing recovery, reducing costs, and improving production. Production optimization includes techniques such as drilling fluids simulation, reservoir characterization & design, well planning including optimal placement and sequencing along with real-time monitoring tools for reservoir performance analysis.
Application Insights:
The global demand for GDOFS is witnessing a paradigm shift due to the growing need for efficient and effective oilfield services. The Oil exploration companies segment dominated the market in 2017, accounting for over 60% of the total revenue share. This is attributed to an increase in spending on new projects across various regions coupled with a rise in number of drilling activities globally.
The growth of this segment can be attributed to several factors including technological advancements that have revolutionized reservoir management and production optimization techniques that have improved operational efficiency leading to cost reduction. These aforementioned factors are expected to drive industry expansion over the forecast period thereby driving overall industry growth during future years as well.
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 oilfield development activities and rising shale plays across U.S., Canada, and Mexico.
The Asia Pacific market is projected to witness significant growth during the forecast period owing to increasing government investments in offshore areas along with onshore fields across China, India, Indonesia, Malaysia Philippines Thailand Vietnam among other countries of South East Asia region ‰trending towards reducing field development costs by minimizing expenditure on laborious field operations such as drilling & exploration activities thus making it attractive for companies operating within this industry verticals globally digital oilfield services market by application)to outsource these tasks thereby driving regional demand during 2018-2030 period).
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investments in oil and gas exploration and production
- Proliferation of digital technologies across the oilfield services value chain
- Emergence of new players in the market
- Growing focus on cost-effective operations
Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Oilfield Services Market Research Report
By Type
Reservoir Optimization, Production Optimization, Drilling Optimization
By Application
Oil exploration companies, Oil production companies
By Companies
GE(Baker Hughes), Halliburton, Schlumberger, Weatherford, Siemens, Rockwell Automation, Honeywell, Kongsberg Gruppen, Emerson, Pason Systems, Petrolink, Accenture, IBM
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
130
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Digital Oilfield Services Market Report Segments:
The global Digital Oilfield Services market is segmented on the basis of:
Types
Reservoir Optimization, Production Optimization, Drilling Optimization
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
Oil exploration companies, Oil production companies
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:
- GE(Baker Hughes)
- Halliburton
- Schlumberger
- Weatherford
- Siemens
- Rockwell Automation
- Honeywell
- Kongsberg Gruppen
- Emerson
- Pason Systems
- Petrolink
- Accenture
- IBM
Highlights of The Digital Oilfield Services 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
- Production Optimization
- Drilling Optimization
- By Application:
- Oil exploration companies
- Oil production companies
- 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 Services 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
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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 Services is a technology company that provides software and services to the oil and gas industry. The company's products include drilling software, well management software, data acquisition and analysis tools, as well as field communication solutions. Digital Oilfield Services also offers training programs for its customers.
Some of the key players operating in the digital oilfield services market are GE(Baker Hughes), Halliburton, Schlumberger, Weatherford, Siemens, Rockwell Automation, Honeywell, Kongsberg Gruppen, Emerson, Pason Systems, Petrolink, Accenture, IBM.
The digital oilfield services market is expected to register a CAGR of 9.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digital Oilfield Services 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 Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Digital Oilfield Services 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 Services 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 Services Market Size & Forecast, 2020-2028
4.5.1 Digital Oilfield Services Market Size and Y-o-Y Growth
4.5.2 Digital Oilfield Services 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 Production Optimization
5.2.3 Drilling Optimization
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 Oil exploration companies
6.2.2 Oil production companies
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Digital Oilfield Services 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 Services 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 Production Optimization
9.6.3 Drilling Optimization
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 Oil exploration companies
9.10.2 Oil production companies
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 Production Optimization
10.6.3 Drilling Optimization
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 Oil exploration companies
10.10.2 Oil production companies
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 Production Optimization
11.6.3 Drilling Optimization
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 Oil exploration companies
11.10.2 Oil production companies
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 Production Optimization
12.6.3 Drilling Optimization
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 Oil exploration companies
12.10.2 Oil production companies
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 Production Optimization
13.6.3 Drilling Optimization
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 Oil exploration companies
13.10.2 Oil production companies
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 Services Market: Competitive Dashboard
14.2 Global Digital Oilfield Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE(Baker Hughes)
14.3.2 Halliburton
14.3.3 Schlumberger
14.3.4 Weatherford
14.3.5 Siemens
14.3.6 Rockwell Automation
14.3.7 Honeywell
14.3.8 Kongsberg Gruppen
14.3.9 Emerson
14.3.10 Pason Systems
14.3.11 Petrolink
14.3.12 Accenture
14.3.13 IBM
