Overview:
Digital Oilfield Solutions are designed to optimize productivity of oil fields by integrating information technology and operational technology. Oil producers are adopting technologies such as digital oilfield solutions to optimize their new and existing oilfields which can reduce non-productive time (NPT) and to help them in aligning their operations along with market demand.
Global digital oilfield solution market is projected to register moderate growth over the forecast period. Downturn in oil & gas industry has shifted the focus of oil producers to improve oil recovery from matured fields. Thus, oil producer are adopting optimization solutions. Further, safe operations, concerns over human health and environment due to hazardous nature of operations are factors driving the adoption of digital oilfield solutions. However, factors such as budgetary constraints of oil producer for investment in IT infrastructure and lack of awareness about the advantages of digital oil field solutions are expected to restraint the market growth over the forecast period.
Europe is anticipated to be the largest market during the forecast period owing to the increasing investment on IT infrastructure with the focus to improve the production from matured oilfields. Followed by it, North America is expected to be the second largest market for digital oilfield solutions by 2023 due to increasing non-conventional shale production activities in the region.
The leading players identified across the value chain of digital oilfield solutions market are highly focusing on developing innovative solutions in order to gain the competitive edge and increasing awareness about the advantages of digital oilfield solution to increase their market penetration.
Global Digital Oilfield Solutions Market is segmented on the following bases:
1. By Process
a. Reservoir optimization
b. Production optimization
c. Drilling optimization
d. Others (Asset Management, Predictive Maintenance)
2. By Technology
a. Information technology
b. Operational technology
i. DCS (Distributed Control System)
ii. PLC (Programmable Logical Controller)
iii. SCADA (Supervisory Control & Data Acquisition)
iv. Others (Sensors, Safety Systems)
3. By Geography
a. North America
i. U.S.
ii. Canada
b. Europe
i. U.K.
ii. France
iii. Germany
iv. Italy
v. Russia
vi. Rest of Europe
c. Asia Pacific
i. Japan
ii. China
iii. India
iv. Australia
v. Rest of APAC
d. Rest of World
i. Latin America
1. Brazil
2. Rest of Latin America
ii. Middle-East & Africa
iii. Africa
Key Players Identified Across the Value Chain in the Digital Oilfield Solutions Market include but are not limited to:
Honeywell International, Accenture, Wipro Limited, Infosys Limited and others.
This report offers:
