Africa Baby Care Products Market - Infinium Global Research Global Digital Oilfield Market - IGR 2022 | Page 2

The report on Digital Oilfield by Infinium Global Research analyses the Digital
Oilfield Market over the period of 2016 to 2022. This report also provides
detailed qualitative and quantitative analyses of the market dynamics, market
size and future trends in Global Digital Oilfield Market. It will help a lot of
decision makers to develop strategies and find new opportunities in the Global
Digital Oilfield Market.
Global Digital Oilfield Market is expected to grow at a CAGR between 4.0%
and 4.5% over the Forecast period 2016 to 2022. It is was worth USD 24.60
billion in 2014. Digital oilfields refer to the digital platform used for connection
and collaboration of on and offshore operation in oil and gas sector. The
digital oilfield helps improve the production and maximizes Oilfield recovery,
limiting non-productive time thereby increasing profitability of the firm.
Automation and Instrumentation accounted for the largest market size in
2015 and it is expected to dominate the revenues in the digital oilfield market
over the forecast period. The Global Digital Oilfield Market is expected to be
primarily driven by Factors such as growing demand for crude oil, Need of
Integrated operations to increase efficient and optimal E & P and Producing Oil
from Mature Oilfield. However, the growth in the Global Digital Oilfield Market
is likely to be restrained by factors such as High investment costs and longer
duration of implementation, and Volatile crude oil prices.
Infinium Global Research