Oilfield Communications Market Expected to Reach $3.18 Billion by 2019 - New Report by MarketsandMarkets
(PRWEB) May 08, 2014 -- The report “Oilfield Communications Market Upstream and Midstream Communications, Unified Communications, M2M Communications, Video Conferencing, WiMax, VSAT, Onshore and Offshore Communications - Worldwide Market Forecast and Analysis (2014 - 2019)” defines and segments the Oilfield Communications Market into various sub-segments of technologies, solutions, services, and regions with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints of this market with insights on trends, opportunities, and challenges.
Browse more than 89 market data tables with 48 figures spread through 197 pages and in-depth TOC on "Oilfield Communications Market."
http://www.marketsandmarkets.com/Market-Reports/oilfield-communications-market-247995454.html.
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This Oilfield Communications Market research report analyzes global adoption trends, future growth potential, competitive outlook, market ecosystem, and the value chain of this market. The report analyzes market sizes and revenue forecasts across different regions such as North America (NA), Europe (EU), LA, Asia Pacific (APAC), and MEA.
MarketsandMarkets forecasts the oilfield Communications Market to grow from from $2.37 billion in 2014 to $3.18 billion in 2019. This represents a Compound Annual Growth Rate (CAGR) of 6.1% from 2014 to 2019.
The complex field operations and data requirements coupled with highly collaborative work processes between multiple onshore and offshore sites are increasingly relying on a robust communication network. This communication challenge is compounded by the variety of different operational domains to be supported by exploration, production, and downstream operations. Many of these are often situated in challenging and rugged regions around the globe.
Very small aperture terminal (VSAT) and fiber-optic communication networks are highly used across the entire value chain of the oil and gas sector for voice and data communication. The emergence of cloud services, video conferencing, and cyber security has increased the burden on fast and reliable communication infrastructure on the field site. The concept of digital oilfield hugely relies on robust IT infrastructure, automation, and communication network. The Oilfield Communications Market will remain lucrative in the long term as the global demand for bandwidth requirement continues to increase. This demand also includes the rising requirements from the emerging energy markets such as Middle East and Africa (MEA) and Latin America (LA).
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