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Digital Oilfield Market 2019 Brands Statistics, Development Strategies, Size, Growth Opportunities, Trends, Emerging Technologies, Top Manufacturers and Regional Forecast to 2023

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Digital Oilfield Market 2019 Brands Statistics, Development Strategies, Size, Growth Opportunities, Trends, Emerging Technologies, Top Manufacturers and Regional Forecast to 2023

September 17
05:48 2019
Digital Oilfield Market 2019 Brands Statistics, Development Strategies, Size, Growth Opportunities, Trends, Emerging Technologies, Top Manufacturers and Regional Forecast to 2023

Digital Oilfield Market
Global Digital Oilfield Market Can be Worth $ 22.36 BN by 2023 Due to Improvisation of Operational Efficiency and the Digital Oilfield industry Estimated to Expand at 5.5% CAGR Between 2018 and 2023. The spectrum of digital oilfields covers various tasks, tools, and disciplines altogether. The profitability of oil and gas operations can be improved via advanced software and data analysis procedures.

The new research report about the global digital oilfield market published by Market Research Future (MRFR) estimates expansion for this market at 5.5% CAGR between 2018 and 2023. By value, the market can be worth the USD 22.36 bn by the end of the forecast period.

The most important factors extending the global digital oilfield market growth include technological advancement and increase the need for productivity from the mature oil & gas wells. Other factors bolstering the market growth include proper usability of cloud computing in the oil & gas industry, meticulous efforts from service provider companies to secure the networks, and improvisation of operational efficiency. However, cyber theft can slow down market growth.

Get Free Sample Copy of “Digital Oilfield Market” Report at: https://www.marketresearchfuture.com/reports/digital-oilfield-market-6784

The spectrum of digital oilfields covers various tasks, tools, and disciplines altogether. The profitability of oil and gas operations can be improved via advanced software and data analysis procedures.

Competitive Dashboard

Major players in the global digital oilfield market include Emerson Electric Co. (USA), Baker Hughes Incorporated (USA), Halliburton (USA), National Oilwell Varco (USA), Kongsberg Oil & Gas Technologies Inc. (UK), Rockwell Automation Inc. (USA), Siemens AG (Germany), Schlumberger Limited (USA), and Weatherford International PLC (Switzerland).

Global Digital Oilfield Industry Segmentation

The global digital oilfield market segmentation covers application, process, and solution. MRFR is analyzing the features of these segments to understand market trends.

The application-based segmentation of this market covers the onshore application and offshore application. Based on the process, the market has been segmented into the reservoir, production, and drilling optimization. In the context of the solution, the market has been segmented into data storage, hardware, and software.

Regional Segmentation

The regional segmentation of the global digital oilfield market covers North America, Asia Pacific, Europe, and the Middle East & Africa (MEA).

During the forecast period, North America is likely to grab the largest share in the global digital oilfield market due to the presence of many large shale oil & gas reserves. Other factors playing an important role in market growth include the presence of many key market players and technological advancement in the USA. After USA, Canada is the most important country-specific market.

The Asia Pacific region is the second-largest regional market due to the presence of growing economies like China and India that are attaining technological advancement and attracting investment. To maximize development, various companies in this region are working to integrate, interpret, and act on production-related information on a real-time basis. Australia is another important country-specific market in this region. Other countries of the Asia Pacific region are also making a significant contribution to the Asia Pacific region.

Europe is another prominent regional market due to technological advancement. Here, the major country-specific markets are Norway and Russia. Other countries of Europe also make a sizable contribution to the market revenue in this region as many strong economies are there in Europe.

Although the MEA region has lots of oilfields, the limited reach of technology makes the scope for market growth limited.

Latest Industry News

  • Houston-based Marathon Oil has rolled out several new digital tools to facilitate oilfield automation. Marathon Oil is scaling those technologies across its four US onshore business units. 20 JUNE 2019
  • Buying a minority stake in California-based artificial intelligence (AI) company C3.ai, Baker Hughes has entered into a joint venture agreement with former to increase the use of AI in the oil & natural gas industry. Under the terms of the agreement, the two companies are also set to combine C3.ai’s technical savvy with Baker Hughes’ industry experience. The purpose of AI software is to improve productivity and efficiency at oil and natural gas operations. The software will ingest massive quantities of data and predict problems in advance. The terms of contract making the partnership official also give Baker Hughes, a seat at C3.ai’s board of directors. 24 JUNE 2019
  • WFS Technologies, a Subsea Internet of Things (SIOT®) device specialist WFS Technologies, is set to expand its operations into Houston and Brazil. Their devices are useful for Asset Integrity Management. 4 JUL 2019

Get Complete Report @ https://www.marketresearchfuture.com/reports/digital-oilfield-market-6784

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/digital-oilfield-market-6784

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