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Digital Oil Field Market (Automation and Instrumentation, IT Services) Worth $33.3 Billion by 2022 - New Report by MarketsandMarkets
  • USA - English


News provided by

MarketsandMarkets

Oct 14, 2013, 06:30 ET

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Key Players are Schlumberger Ltd (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Emerson Electric Company (U.S.), ABB Group (Switzerland), Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.).

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(PRWEB) October 14, 2013 -- The report "Digital Oil Field Market by Services (Automation and Instrumentation, Information Technology) and Geography - 2022" defines and segments the market with analysis and forecasting of the revenue for the technology. It also identifies driving and restraining factors for market with analysis of trends, opportunities, burning issues, winning imperatives and challenges. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Western Europe, Middle East, Asia-Pacific, and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, market is segmented and revenues are forecasted on the basis of services.

Browse 110+ market data tables / figures spread through 242 pages and in-depth Table of Content on “Global Digital Oil Field Market by Services (Automation & Instrumentation, Information Technology) & Geography - Forecasts to 2022”.
http://www.marketsandmarkets.com/Market-Reports/digital-oilfield-market-904.html

Early buyers will receive 10% customization on this report.

The digital oil field is an ideology in transformation that is widespread in the oil and gas industry. Digital oil field is an enhancement process for conventional methods that have been practiced in the E&P sector for decades. This technology helps the E&P companies in handling difficult explorations easily and hence increasing the production; thereby meeting the global demand of crude oil. The adoption of smart field technology has been growing in the oil & gas sector, also concerning the higher levels of safety it yields, which is another advantage of opting technology.

The global crude oil demand, safety reasons, and the receding number of employees in the oil & gas industry are driving the growth of digital oil field market. The influence of adoption by a single E&P company has also influenced other companies in respective regions to implement technology based E&P processes.

Smart field operations have proven its significance for exploration, surveying, development, well completion, and production processes. Smart field operations help industry players to integrate their operations through data management, seismic imaging, drilling, process completion, reservoir modeling, production optimization, and other vital processes. The technology results in the creation of data centers for analyzing the data acquired across various processes and creating a collaborative environment for smart decision-making.

The global market for digital oil field in terms of revenue was estimated to be worth $18.7 billion in 2011 and is expected to reach $33.3 billion by 2022, growing at a CAGR of 4.8% from 2012 to 2022. Western Europe dominated the global digital oil field market, accounting for 26.9% of the global digital oil field market revenue in 2011. North American region is expected to have the second highest market revenue by 2022. Middle East is expected to be the fastest growing market in the future, with a CAGR of 5.9% from 2012 to 2022, because of increasing demand for crude oil and the entry of E&P companies in the region. Asia-Pacific region is expected to have the highest growth next to the fastest growing market.

Browse related reports:

Drilling Fluids (Drilling Mud) Market & Completion Fluids Market: by Types (Water-Based Systems, Oil-Based Systems, Synthetic-Based Systems, Other Based Systems), Application Areas (Onshore and Offshore) & Geography - Forecast to 2018
http://www.marketsandmarkets.com/Market-Reports/drilling-completion-fluids-market-1241.html

Offshore Drilling Market by Services (Contract Drilling, Directional Drilling, Logging While Drilling), Applications (Shallow Water, Deepwater, Ultra-Deepwater) and Geography - Global Trends & Forecasts to 2018
http://www.marketsandmarkets.com/Market-Reports/offshore-drilling-market-1207.html

About MarketsandMarkets

MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.

MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals; including agriculture, advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, telecommunications and IT, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, aerospace & defense.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: sales(at)marketsandmarkets(dot)com
Visit MarketsandMarkets Blog at http://www.marketsandmarketsblog.com/market-reports/energy-and-power.
Connect with us on LinkedIn at http://www.linkedin.com/company/marketsandmarkets.

Rohan, MarketsandMarkets, http://www.marketsandmarkets.com/, 1-888-6006-441, [email protected]

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