Companies and Markets
Market Research A to Z | Company Profiles A to Z | Register | Contact Us
+44 (0) 203 086 8600 Call us on

Global Digital Oil Field Market: Forecasts to 2022

3081.78

Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

Site License

Site License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is intended for use by more than one individual, across for example, a site, an office, or a division or country.

Corporate License

Corporate License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is/are intended for use by an organisation in its entirety. For example, if reports are put on an Intranet or if they are distributed or used by more than one office, division, or country operation, then a Corporate Licence is required.

£3,081.78

Change Currency

GBP EURO USD

Market

Energy and Utilities

Report Type

Market Research

Country

Global

Published

21 January 2013

Number of Pages

254

Report Delivery

Email

Delivery Lead Time

1-3 hours, 24 hour max

Publisher

Markets&Markets

File Format

PDF

Global digital oil field market: $33 billion value by 2022

The global digital oil field market is estimated to have reached a value of $18.7 billion during 2011, and is expected to hit an increased total in 2022 of $33.3 billion. CAGR growth during this time period is suggested to be 4.8%. Domination of the global oil field market comes from Western Europe, accounting for almost 27% of total revenue. By 2022 the North American region is expected to have the second highest market revenue. The fastest growing market between 2012 and 2022 is expected to be the Middle East, which will see CAGR growth of almost 6%. This is suggested to be driven by an increased demand in crude oil and the entry of E&P companies to the region.

Digital oil field technology is a combination of IT and automation & instrumentation technologies, as an improvement of the existing technologies in the oil & gas industry. This integrated operations technology makes the analysis faster and easier with software involved in efficient data management, provides more realistic image of the reservoir and the availability of resources, helps to optimize process required for production, and renders much safer operations with the inclusion of remote surveillance and collaborated environments.

Digital oil field technology includes segments of IT such as outsourcing, software services, and equipment based expenditure. Automation & instrumentation is another segment of digital oil field market, which includes key networking processes and communication technologies such as SCADA, PLC, smart well, safety systems, and wireless systems.

Digital oil field is an integrated operation system that helps in reservoir optimization, production optimization, drilling and well completion, and other processes. The above mentioned are the process improved by the implementation of the technology. This smart field based technology reinvents production using new techniques such as creation of smart wells and establishing agile communication using remote surveillance & operating and high-end technology.

Revival of the older methodologies in the oil & gas sector became essential to increase and minimize the deficit in supply. The high average age of oil & gas industry professionals indicated more retirements in the near future, resulting in reduction of man power in the industry; hence this was met by automated production platforms, intelligent machinery and systems. The safety factors proved to be high after installing digital oil field technology based machines and systems. These are the reasons which are driving the market apart from the regulations from government bodies in some parts of the world.

Exploration for new and unconventional hydrocarbon sources has seen growth in the oil & gas sector. Some of the regions found high unconventional resources, the highest in the North American region. The usage of unconventional resource to complete the energy requirements is slowly rising along with the acceptance of such resources. The exploration activities in the Arctic Circle are waiting to meet environmental regulations and are expected to contribute to the global oil & gas production in the future. The fastest growing region is expected to be the Middle East, followed by Asia-Pacific. The most active market currently is North America.

Report Overview

We have used various secondary sources -- encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of this market. The primary sources, experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of this smart wells based digital oil field technology.

We have also profiled leading players of this industry with their recent developments and other strategic industry activities, namely Schlumberger Ltd (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Emerson Electric Company (U.S.), ABB Group (Switzerland), Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), TIBCO Software Inc. (U.S.), Tata Consultancy Service (India), Accenture Plc (Ireland), Redline Communications Group Inc. (Canada), Paradigm Ltd (U.S.), and Kongsberg Oil and Gas Technologies AS (Norway).

Report Scope

This research report categorizes the global market for digital oil field on the basis of applications, service types, process types, and geography; forecasting revenue and analyzing trends in each of the submarkets.

On the basis of services: The market is segmented on the basis of service segments of the technology -- IT and automation & instrumentation including technologies, such as SCADA, PLC, DCS, etc., are the three segments that define digital oil field technology. Each service segment is further described in detail in the report with revenue forecasted for each service.

On the basis of process focus type: Product optimization, reservoir optimization, drilling and others.

On the basis of geography: North America, Western Europe, Middle East, Asia-Pacific, ROW, and key countries in every region.

Speak to an Advisor

Call us on
+44 (0) 203 086 8600

Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

Site License

Site License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is intended for use by more than one individual, across for example, a site, an office, or a division or country.

Corporate License

Corporate License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is/are intended for use by an organisation in its entirety. For example, if reports are put on an Intranet or if they are distributed or used by more than one office, division, or country operation, then a Corporate Licence is required.

£3,081.78

Change Currency

GBP EURO USD

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Energy and Utilities Company Profiles

Find latest Energy and Utilities Company Profiles with up to date financial, strategic, operational, SWOT analysis and product information for the leading energy and utilities companies.

Competitor Tracking

Do you need to track your competitors and customers on a continuous basis? We have the expertise to provide you with a cost-effective, fully customised competitor tracking portal, which collates data on your competitors on a continuous basis. Contact us for a free consultation and demonstration.

Become an Affiliate

Do you manage an industry specific website or blog? Are you looking to monetise your web traffic further? Are you a B2B website?

Why not offer your visitors industry specific strategic market reports and company profiles? Our Affiliate Program enables you to provide quality content on your website and to earn money from passing on visitors to our website.

Custom Research

Cannot find what you need? We can tailor a report for you. Complete the Custom Research Form and we will provide a quote.

Accessibility
Close

Contrast settings

Text size settings