The Digital Oilfield is defined as the concept which includes the set of business process management & the implementation of digital technologies to automates interrelated tasks to reduce the risk related to the oil & gas operations enhances productivity & reduce cost. It includes the advanced software &data analysis technique to improve productivity. The technologically advanced components incorporate cloud computing, network sensors, artificial intelligence (AI), and big data analytics. They are find their application in oil & gas industry.
The increase in demand for oil, gas and other petroleum products from the developing countries, coupled with increasing efforts to mitigate the product cost is expected to boost the global digital oilfield market growth during this forecast timeframe. Exploring discoveries of high potential conventional & unconventional reserves in various formations are projected to accelerate the industry growth.
The Digital technology incorporates a wide range of equipment & functions deployed in various upstream, downstream, and mid stream stages to improve the operational efficiency of oil and gas processes. The technology adopted by oilfield organizations to achieve a blend of benefits such as improves recovery; optimize resources, and other benefits to ensure flexible & reliable operations. The increase in initiatives to integrate efficient production technique & escalate yields from mature wells in various regions will positively influence the revenue in the forthcoming years.
The collection of real-time data & productive analysis is a time consuming which expected to hinder the global digital oilfield market growth. A suitable experienced & proficient skilled workforce is essential for collecting & analyzing the data. Key players in the oil and gas industry are focuses on exploring discoveries by tapping the potential with precise & accurate data. Hence, analytical tools adopted for exploring & defining the potential of wellheads are time-consuming processes. Thus, the delay in decision making processes due to analytical tools hampers the market growth.
The Global Digital Oilfield Market is segmented into process such as Reservoir Optimization, Drilling Optimization, Production Optimization, Safety Management, and Others, by solution such as hardware solution (Distributed Control System, Supervisory Control & Data, Acquisitions, Smart Well, Safety System, Wireless Sensor, Programmable Logic Controller, Computers, Process Automation Manager, and Human-Machine Interaction), Software & Service Solution (IT Outsourcing, Software, IT Servicing & Commissioning, Collaborative Product, and Management), Data Storage Solution (On-Premise, and Hosted), by application such as Onshore, and offshore.
Also, the Global Digital Oilfield Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North America region is expected to hold largest revenue share in overall market due to re-engineering of technological solutions to improve optimization & management of the oil and gas operations will drive the market growth in this region. United State digital oilfield market is expected to grow on account of accelerating energy demand followed by paradigm shift toward technological advanced solutions.
The rise in production and exploration activities to cater to the growing energy demand is expected to propel the Asia Pacific market growth. Developing countries such as China, India, and South Korea are continuously facing an increase in the overall energy need to suffice the industrial, commercial, and automobile demand.
Various key players listed in this report such as Emerson Electric, Honeywell International, Weatherford International, Schlumberger, Halliburton, General Electric, Baker Hughes, Sinopec Oilfield Service, Siemens, International Business Machines (IBM), etc.
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Digital Oilfield Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Digital Oilfield Market, By Process
5.1 Y-o-Y Growth Comparison, By Process
5.2 Global Digital Oilfield Market Share Analysis, By Process
5.3 Global Digital Oilfield Market Size and Forecast, By Process
5.3.1 Reservoir Optimization
5.3.2 .Drilling Optimization
5.3.3 .Production Optimization
5.3.4.Safety Management
5.3.5. Others
6 Global Digital Oilfield Market, By Solution
6.1 Y-o-Y Growth Comparison, By Solution
6.2 Global Digital Oilfield Market Share Analysis, By Solution
6.3 Global Digital Oilfield Market Size and Forecast, By Solution
6.3.1 Hardware Solutions
6.3.1.1 Distributed Control System
6.3.1.2 Supervisory Control & Data
6.3.1.3 Acquisitions
6.3.1.4 Smart Well
6.3.1.5 Safety System
6.3.1.6 Wireless Sensor
6.3.1.7 Programmable Logic Controller
6.3.1.8 Computers
6.3.1.9 Process Automation Manager
6.3.1.10 Human-Machine Interaction
6.3.2 Software & Service Solutions
6.3.2.1 IT Outsourcing
6.3.2.2 Software
6.3.2.3 IT Servicing & Commissioning
6.3.2.4 Collaborative Product
6.3.2.5 Management
6.3.3 Data Storage Solutions
6.3.3.1 On-premise
6.3.3.2 Hosted
7 Global Digital Oilfield Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Digital Oilfield Market Share Analysis, By Application
7.3 Global Digital Oilfield Market Size and Forecast, By Application
7.3. 1 Onshore
7.3.2. Offshore
8 Global Digital Oilfield Market, By Region
8.1 Global Digital Oilfield Market Share Analysis, By Region
8.2 Global Digital Oilfield Market Share Analysis, By Region
8.3 Global Digital Oilfield Market Size and Forecast, By Region
9 North America Digital Oilfield Market Analysis and Forecast (2020-2030)
9.1 Introduction
9.2 North America Digital Oilfield Market Share Analysis, By Process
9.3 North America Digital Oilfield Market Size and Forecast, By Solution
9.4 North America Digital Oilfield Market Size and Forecast, By Application
9.5 North America Digital Oilfield Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Digital Oilfield Market Analysis and Forecast (2020-2030)
10.1 Introduction
10.2 Europe Digital Oilfield Market Share Analysis, By Process
10.3 Europe Digital Oilfield Market Size and Forecast, By Solution
10.4 Europe Digital Oilfield Market Size and Forecast, By Application
10.5 Europe Digital Oilfield Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11 Asia Pacific Digital Oilfield Market Analysis and Forecast (2020-2030)
11.1 Introduction
11.2 Asia Pacific Digital Oilfield Market Share Analysis, By Process
11.3 Asia Pacific Digital Oilfield Market Size and Forecast, By Solution
11.4 Asia Pacific Digital Oilfield Market Size and Forecast, By Application
11.5 Asia Pacific Digital Oilfield Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Digital Oilfield Market Analysis and Forecast (2020-2030)
12.1 Introduction
12.2 Latin America Digital Oilfield Market Share Analysis, By Process
12.3 Latin America Digital Oilfield Market Size and Forecast, By Solution
12.4 Latin America Digital Oilfield Market Size and Forecast, By Application
12.5 Latin America Digital Oilfield Market Size and Forecast, Country
13 Middle East Digital Oilfield Market Analysis and Forecast (2020-2030)
13.1 Introduction
13.2 Middle East Digital Oilfield Market Share Analysis, By Process
13.3 Middle East Digital Oilfield Market Size and Forecast, By Solution
13.4 Middle East Digital Oilfield Market Size and Forecast, By Application
13.5 Middle East Digital Oilfield Market Size and Forecast, By Country
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Emerson Electric
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. Honeywell International
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Weatherford International
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Schlumberger
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Halliburton
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 General Electric
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Baker Hughes
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Sinopec Oilfield Service
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Siemens
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 International Business Machines (IBM)
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
