Market Overview:
The global digital transformation in the oil and gas market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market is segmented on the basis of type, application, and region. On the basis of type, big data/analytics and cloud computing, internet of things (IoT), artificial intelligence, industrial control systems (PLCs, SCADA systems, HMIs & DCSs etc.), extended reality (AR/VR/MR), field devices (sensors & motors) are included. By application, upstream oil and gas production facilities such as refineries & petrochemical plants; midstream transportation including pipelines; downstream marketing including storage terminals are considered.
Product Definition:
Digital transformation is the process of implementing digital technologies to change how a company operates. The goal of digital transformation is to improve efficiency, communication, and decision making. Digital transformation can be used in any industry, but it is particularly important in oil and gas because of the complex and data-intensive nature of the business. By using digital technologies such as big data analytics, cloud computing, and mobile apps, companies in oil and gas can make better decisions about where to drill for oil or natural gas, how to optimize production processes, and where to sell products.
Big Data/Analytics and Cloud Computing:
The oil and gas industry is facing challenges due to rapid digitalization, changing consumer preferences along with increased competition. The industry is witnessing a shift from traditional systems towards new analytics-based platforms that can provide real-time insights. This has led to the emergence of big data and cloud computing in the oil & gas market.
Internet of Things (IoT):
Internet of Things (IoT) is a network of physical devices, animals, people and machines that are connected to the internet. It enables these entities to communicate with each other and this communication can take place irrespective of their location. The concept has evolved from simple connectivity between sensors in manufacturing facilities monitoring the process to now encompassing human-to-machine interaction on an everyday basis.
Application Insights:
The application segment is segregated into upstream, midstream and downstream. The upstream segment includes exploration and production activities. Increasing investments in the oil & gas sector to meet the growing demand from a rapidly expanding population are expected to drive digital transformation in this sector over the forecast period.
Global digital transformation in the oil.
The midstream segment involves activities such as transportation of petroleum products from wells to refineries via pipelines; processing of crude oil or natural gas at various locations along pipeline route; distribution along with storage & terminals facilities for loading/unloading products into tankers for transport overseas or onto trains for local consumption within a region. The adoption of smartmidstream solutions that enable real-time monitoring & management is anticipated to foster growth over the forecast period owing to enhanced operational efficiency across all phases of operations including maintenance scheduling etcetera resulting ultimately in higher margins for companies operating within this industry vertical.
Regional Analysis:
The North American region is expected to lead the global digital transformation in the oil and gas market over the forecast period. The U.S., being a major contributor to global energy consumption, has been one of the key targets for various digital technologies owing to its robust upstream sector and growing midstream segment. The country accounted for more than 50% of total shale gas production in 2016, which further increased downstream investments across all sectors as well as attracting significant investment from international companies such as Google Inc., General Electric, Siemens AG among others.
Asia Pacific is anticipated to emerge as a prominent regional market over the next eight years owing to increasing government initiatives towards implementation of advanced technologies across various industries especially oil & gas industry resulting into improved operational efficiency with enhanced customer experience at lower costs along with new business models that can generate revenue through subscription-based services instead of charging fixed rates per barrel or kilowatthour etc.
Growth Factors:
- Increased demand for oil and gas due to population growth and industrialization in developing countries
- Increased focus on energy security by governments and companies
- Rising prices of oil and gas in the global market
- Proliferation of digital technologies and their increasing adoption in the oil and gas industry
- Shift towards cleaner sources of energy
Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Transformation in the Oil and Gas Market Research Report
By Type
Big Data/Analytics and Cloud Computing, Internet of Things (IoT), Artificial Intelligence, Industrial Control Systems (PLC, SCADA, HMI, DCS etc.), Extended Reality (AR, VR and MR), Field Devices (Sensors, Motors, VFD etc.)
By Application
Upstream, Midstream, Downstream
By Companies
Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., ABB Ltd., Mitsubishi Electric Corporation, Siemens AG, Omron Corporation, Yokogawa Electric Corporation, Fanuc Corporation, WFS Technologies Ltd, Magseis Fairfield ASA, Rohrback Cosasco Systems, Inc, IBM Corporation
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
134
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Digital Transformation in the Oil and Gas Market Report Segments:
The global Digital Transformation in the Oil and Gas market is segmented on the basis of:
Types
Big Data/Analytics and Cloud Computing, Internet of Things (IoT), Artificial Intelligence, Industrial Control Systems (PLC, SCADA, HMI, DCS etc.), Extended Reality (AR, VR and MR), Field Devices (Sensors, Motors, VFD etc.)
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
Upstream, Midstream, Downstream
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:
- Schneider Electric SE
- Rockwell Automation Inc.
- Honeywell International Inc.
- ABB Ltd.
- Mitsubishi Electric Corporation
- Siemens AG
- Omron Corporation
- Yokogawa Electric Corporation
- Fanuc Corporation
- WFS Technologies Ltd
- Magseis Fairfield ASA
- Rohrback Cosasco Systems, Inc
- IBM Corporation
Highlights of The Digital Transformation in the Oil and Gas 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:
- Big Data/Analytics and Cloud Computing
- Internet of Things (IoT)
- Artificial Intelligence
- Industrial Control Systems (PLC, SCADA, HMI, DCS etc.)
- Extended Reality (AR, VR and MR)
- Field Devices (Sensors, Motors, VFD etc.)
- By Application:
- Upstream
- Midstream
- Downstream
- 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 Transformation in the Oil and Gas 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
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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 transformation is the process of transforming an organization’s technology infrastructure to enable new business models, increased efficiency and improved customer experience. In the oil and gas industry, digital transformation can help organizations improve their operations by automating processes, improving communication and collaboration between employees, and increasing access to data.
Some of the key players operating in the digital transformation in the oil and gas market are Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., ABB Ltd., Mitsubishi Electric Corporation, Siemens AG, Omron Corporation, Yokogawa Electric Corporation, Fanuc Corporation, WFS Technologies Ltd, Magseis Fairfield ASA, Rohrback Cosasco Systems, Inc, IBM Corporation.
The digital transformation in the oil and gas market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digital Transformation in the Oil and Gas 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 Transformation in the Oil and Gas Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Digital Transformation in the Oil and Gas 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 Transformation in the Oil and Gas 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 Transformation in the Oil and Gas Market Size & Forecast, 2020-2028
4.5.1 Digital Transformation in the Oil and Gas Market Size and Y-o-Y Growth
4.5.2 Digital Transformation in the Oil and Gas 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 Big Data/Analytics and Cloud Computing
5.2.2 Internet of Things (IoT)
5.2.3 Artificial Intelligence
5.2.4 Industrial Control Systems (PLC
5.2.5 SCADA
5.2.6 HMI
5.2.7 DCS etc.)
5.2.8 Extended Reality (AR
5.2.9 VR and MR)
5.2.10 Field Devices (Sensors
5.2.11 Motors
5.2.12 VFD etc.)
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 Upstream
6.2.2 Midstream
6.2.3 Downstream
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Digital Transformation in the Oil and Gas 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 Transformation in the Oil and Gas 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 Big Data/Analytics and Cloud Computing
9.6.2 Internet of Things (IoT)
9.6.3 Artificial Intelligence
9.6.4 Industrial Control Systems (PLC
9.6.5 SCADA
9.6.6 HMI
9.6.7 DCS etc.)
9.6.8 Extended Reality (AR
9.6.9 VR and MR)
9.6.10 Field Devices (Sensors
9.6.11 Motors
9.6.12 VFD etc.)
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 Upstream
9.10.2 Midstream
9.10.3 Downstream
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 Big Data/Analytics and Cloud Computing
10.6.2 Internet of Things (IoT)
10.6.3 Artificial Intelligence
10.6.4 Industrial Control Systems (PLC
10.6.5 SCADA
10.6.6 HMI
10.6.7 DCS etc.)
10.6.8 Extended Reality (AR
10.6.9 VR and MR)
10.6.10 Field Devices (Sensors
10.6.11 Motors
10.6.12 VFD etc.)
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 Upstream
10.10.2 Midstream
10.10.3 Downstream
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 Big Data/Analytics and Cloud Computing
11.6.2 Internet of Things (IoT)
11.6.3 Artificial Intelligence
11.6.4 Industrial Control Systems (PLC
11.6.5 SCADA
11.6.6 HMI
11.6.7 DCS etc.)
11.6.8 Extended Reality (AR
11.6.9 VR and MR)
11.6.10 Field Devices (Sensors
11.6.11 Motors
11.6.12 VFD etc.)
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 Upstream
11.10.2 Midstream
11.10.3 Downstream
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 Big Data/Analytics and Cloud Computing
12.6.2 Internet of Things (IoT)
12.6.3 Artificial Intelligence
12.6.4 Industrial Control Systems (PLC
12.6.5 SCADA
12.6.6 HMI
12.6.7 DCS etc.)
12.6.8 Extended Reality (AR
12.6.9 VR and MR)
12.6.10 Field Devices (Sensors
12.6.11 Motors
12.6.12 VFD etc.)
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 Upstream
12.10.2 Midstream
12.10.3 Downstream
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 Big Data/Analytics and Cloud Computing
13.6.2 Internet of Things (IoT)
13.6.3 Artificial Intelligence
13.6.4 Industrial Control Systems (PLC
13.6.5 SCADA
13.6.6 HMI
13.6.7 DCS etc.)
13.6.8 Extended Reality (AR
13.6.9 VR and MR)
13.6.10 Field Devices (Sensors
13.6.11 Motors
13.6.12 VFD etc.)
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 Upstream
13.10.2 Midstream
13.10.3 Downstream
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 Transformation in the Oil and Gas Market: Competitive Dashboard
14.2 Global Digital Transformation in the Oil and Gas Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Schneider Electric SE
14.3.2 Rockwell Automation Inc.
14.3.3 Honeywell International Inc.
14.3.4 ABB Ltd.
14.3.5 Mitsubishi Electric Corporation
14.3.6 Siemens AG
14.3.7 Omron Corporation
14.3.8 Yokogawa Electric Corporation
14.3.9 Fanuc Corporation
14.3.10 WFS Technologies Ltd
14.3.11 Magseis Fairfield ASA
14.3.12 Rohrback Cosasco Systems, Inc
14.3.13 IBM Corporation
