Digital Oil-Field Market Size , Share , Trends , Analysis and Forecasts To 2022
Global Digital Oil-Field market is accounted for $ 23.76 billion in 2015 and is expected to reach $ 34.72 billion by 2022 growing at a CAGR of 5.6 %. Digital Oil-Field technology helps Exploration & Production companies to overcome with their difficult explorations easily and thereby meeting the global demand of crude oil . The global crude oil demand , decrease in number of employees and safety reasons in the oil & gas are the reasons behind the favorable growth of Digital Oil-Field market .
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Major factors such as remote surveillance , communication between offshore and onshore , the Automation & Instrumentation service under service segment are driving the market growth and production optimization segment under process segment is expected to lead the market . However Europe is the largest market because of its investments and future plans for digitalizing the fields . However , Asia Pacific is expected to witness the highest market growth .
Some of the major players in the global Digital Oil-Field market include Rockwell Automation , Inc ., Katalyst Data Management , Halliburton Company , CGG S . A . , Honeywell International Inc ., Weatherford International PLC , Baker Hughes Incorporated , Kongsberg Gruppen Asa , Paradigm Limited , Schlumberger Limited , Ovation Data Services , Inc ., DIGI International Inc , National Oilwell Varco , Inc ., Siemens AG , Redline Communications Group Inc . , IHS Inc ., EDG , Inc ., Oleumtech Corporation , Istore , Pointcross Inc . , Pason Systems Inc . and Petrolink .
Digital Oil-Field services covered : IT Services o Software o IT Services & Commissioning o Computer Equipment & Application Hardware o IT Outsourcing
• Instrumentation & Automation o Safety Systems o Distributed Control System ( DCS ) o Smart Well o Supervisory Control & Data Acquisition o Collaborative Product Management o Wireless Systems o Programmable Logic Controller