Albany, New York (PRWEB) August 06, 2014
Digital oil field technology is the use of automation, instrumentation and IT technologies together in order to improve our existing oil and gas industry technologies. This integration with the help of software makes the analysis much easier and faster. This technology helps in efficient data management, production process optimization, provide more realistic images of the reservoir. Instrumentation and automation includes communication and network processing technologies such as PLC, SCADA, safety system and smart well. Digital oil field technology market can be segmented on the base of process focus type into Production optimization, Reservoir optimization, Well completion, Drilling and others. The market can also be segmented on the basis of services technologies which include automation, instrumentation and IT.
Digital oil field technology market can be segmented based on geography into North America, Asia Pacific, Europe, and RoW. Europe is expected to lead in this market followed by North America. North America is enormously involved in unconventional gas production and hence estimated to be a potential region for digital oil field technology market. Improved results, ability to analyze faster and easier are some factors which are driving this market. Increase in exploration activity of unconventional reserves creates a great opportunity for this market.
Some of the key players in digital oil field market include Baker Hughes Incorporation, Halliburton Company, Tata consultancy Services (India), Honeywell International Inc., Microseismic Inc, Merrick System Inc., Emerson Electric company, Microsoft Corporation, ABB Group, Paradigm Ltd., Schlumberger Ltd., TIBCO Software Inc. and Redline Communications Group Inc. along with others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include:
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