Industry and News Digital Oilfield Market | Page 3

rig data, digital oilfield operations in several geographies and systematic investments of service
providers and operators. Finally, the global standards were attained by alliance of markets for
separate regions. Industry specialists were also communicated for validating the key discoveries of
the report, in order to analyze the market appropriately. The distinct responses and the lookouts
were carefully examined and merged in the report. The market numbers are also authenticated by
bottom-up and top-down valuation approaches. In bottom up approach separate regional markets
are added to get the final parent market, while on the other hand, in top-down approach,
segmental and regional markets are derived from the parent market seeing the part of the
segments.
Middle East is anticipated to show the fastest growth over the forecast period. Middle East market
which has manufacturing costs far beneath the present prevailing oil prices is capable to invest in
digital oilfield market and increase their crude recovery rate. As per rig counts issued by Baker
Hughes Inc. the U.S. rig count has dropped to 848 in September 2015 from 1,930 in September 2014
undesirably impacting the country's oil & gas industry; however, several mature oilfields are
projected to be digitalized to stabilize this impact. Regions such as North America and Asia Pacific
are hugely investing in R&D activities. According to the International Energy Agency, in 2017, USA is
expected to overtake Saudi Arabia to become world’s top producer of crude oil. The firms of the
region are already using digital oil field technologies to enhance their oil production and this trend
will continue to remain in future as well.
The development of the digital oilfield market is driven by various stakeholders such as several
oilfield service providers, government and research organizations, environment research institutes,
energy associations, oilfield operators, and drilling and exploration companies, Companies like
Baker Hughes (U.S.), Paradigm (U.S.), Schlumberger Limited (U.S.), Konsberg Oil & Gas Technologies
AS (Norway) have been the most vigorous companies in terms of strategic growths during January
2011 to September 2014. Maximum of these companies are existing in North America and have
been vigorously contributing in competitive developments.
Market Segment:
This report studies the global Digital Oilfield market, analyzes and researches the Digital Oilfield
development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This
report focuses on the top players in global market, like