Harrisburg, NC -- (SBWire) -- 10/27/2020 --The Digital Oilfield Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This market study provides comprehensive data which enhances the understanding, scope and application of this report.

The Global Digital Oilfield Market was valued at USD 23,235.15 Million in the year 2018.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Digital Oilfield Market: Kongsberg Gruppen, Schlumberger, Halliburton, Weir Group, National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International, Weatherford International and others.

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Growing Exploration & Production (E&P) activities across the globe, exploration of shale resources as well as CAPEX improvement in upstream sector, technological advancements coupled with the rising demand for reduction in production costs as well as growing safety concerns are the major factors impelling the market growth. Further, environmental benefits include reduction in CO2 emission and avoiding oil spills which has been propelling the digital oilfield market.

Global Digital Oilfield market has gained importance as increasing consumption requirement influences the exploration of offshore oilfields using digital technologies like Big Data, IIoT (Industrial Internet of Things), SCADA system, sensors, real-time data analysis, robots and drones. These markets are influenced by many factors including fluctuating crude oil and natural gas prices, changing consumer preferences, growing concern to reduce greenhouse emission and the overall strength of the economy.

Based on the End Process, the Production Optimization is estimated to account for the largest share over the forecast period. It includes measuring, modelling, analyzing and prioritizing functions to implement in a well or reservoir to improve its productivity.

Among the regions, Americas currently leads the Digital Oilfield market owing to considerable investments planned in offshore deep water and ultra-deep water drilling activities and growing number of oil and gas wells. Moreover, countries like China, Russia, Saudi Arabia, Iran are expected to grow faster owing to increased investment in the upstream sector.

Scope of the Report:

Global Digital Oilfield Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Digital Oilfield Market - Size, Growth, Forecast
- Analysis by Technology: Hardware, Software & Services, Data Storage Solutions
- Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others
- Analysis by Application: Offshore, Onshore

Regional Digital Oilfield Market - Americas, Europe, APAC, MEA (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Digital Oilfield Market - Size, Growth, Forecast
- Analysis by Technology: Hardware, Software & Services, Data Storage Solutions
- Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others
- Analysis by Application: Offshore, Onshore

Country Analysis - U.S., Canada, Mexico, Russia, Norway, United Kingdom, India, China, Saudi Arabia, Iran (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Digital Oilfield Market - Size, Growth, Forecast
- Analysis by Technology: Hardware, Software & Services, Data Storage Solutions
- Analysis by End-Process: Reservoir Optimization, Production Optimization, Drilling Optimization, Others
- Analysis by Application: Offshore, Onshore

Other Report Highlights
- Competitive Landscape
- Leading Companies
- Market Dynamics - Drivers and Restraints.
- Market Trends
- Porter Five Forces Analysis.
- SWOT Analysis.
- Company Analysis - Kongsberg Gruppen, Schlumberger, Halliburton, Weir Group, National Oilwell Varco, Siemens, Sinopec Corporation, Baker Hughes Inc., Honeywell International, Weatherford International.

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Influence of the Digital Oilfield Market Report:

-Comprehensive assessment of all opportunities and risks in the Digital Oilfield market.
-The detailed study of business strategies for the growth of the Digital Oilfield market-leading players.
-Conclusive study about the growth plot of the Digital Oilfield market for forthcoming years.
-In-depth understanding of Digital Oilfield market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Digital Oilfield market.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Digital Oilfield Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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-  country Level analysis for any 5 countries of your choice.
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