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