United States digital oilfield market
is expected to grow at a CAGR of around 5% during the forecast period. Digital
oilfield refers to the automation of upstream, midstream, and downstream
oilfield activities. Digital oilfield includes use of
advanced software and data analysis techniques to improve the profitability of
oil & gas production operations.
The rising rig
count, inclination and the attempts made by the industries to upstream their
assets are the major factors driving the United States digital oilfield market.
Additionally, advantages such as improved safety, optimized production rate of
hydrocarbons, environmental protection, ease in finding reserves, cost savings
increased productivity, safer operations, among others offered by the digital
oilfields are further propelling the market.
The United
States digital oilfield market is segmented based on processes, solutions, application,
technology, service, end use, country and company. Based on processes, the
market can be fragmented into reservoir, production optimization and drilling
optimization. The production optimization segment is expected to dominate the
market on account of the increasing production activities among the major oil
& gas suppliers worldwide. Based on solutions, the market can be
categorized into hardware, software & service and data storage solutions. The
hardware segment holds the largest market share attributable to the increasing investments
by oilfield operators towards technological enhancements and process automation.
Based on application, the market can be bifurcated into on-shore and off-shore.
The on-shore segment is expected to register significant growth during the
forecast period owing to the surging demand for energy coupled with increasing
oil consumption. Based on service, the market can be grouped into automation,
instrumentation, security and others. The instrumentation and automation
segments are expected to witness significant growth during forecast period
owing to increasing demand for automated oilfield processes.
The major players operating in the
digital oilfield market are Schlumberger Limited, Halliburton Company, Baker
Hughes, a GE Company, LLC, National Oilwell Varco LP, Emerson Process
Management LLLP, Rockwell Automation, Inc., Honeywell International Inc., Cisco
Systems, Inc, General Electric Company, Emerson Electric Co. and others. Major companies are developing
advanced technologies and launching new products in order to stay competitive
in the market. Other competitive strategies include mergers & acquisitions
and new product developments.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of United
States digital oilfield market.
- To classify and forecast United States digital
oilfield market based on processes, solutions,
application, technology, service, end use, company and regional distribution.
- To identify drivers and challenges for United
States digital oilfield market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in United
States digital oilfield market.
- To conduct pricing analysis for United States digital
oilfield market.
- To identify and analyze the profile of leading
players operating in United States digital oilfield market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service providers across the country. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the manufacturers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service providers, distribution channels and presence of all
major players across the country.
TechSci Research calculated the market size of United States digital oilfield market by using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Digital oilfield manufacturers
and suppliers
- Market research and
consulting firms
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to digital oilfield
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers, suppliers and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, United States digital
oilfield market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Market, By Processes:
- Reservoir
- Production Optimization
- Drilling Optimization
- Market, By Solutions:
- Hardware
- Software & Service
- Data Storage Solutions
- Market, By Application:
- Market, By Technology:
o IoT
o Advance
Analytics
o Robotics
o Cloud
Computing
o Mobility
o Others
o Automation
o Instrumentation
o Security
o Others
o Upstream
o Midstream
o Downstream
- Market, By
Region:
- North-East
- Mid-West
- West
- South
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in United States digital oilfield market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
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