Smart Drilling Solutions Market Scope
smart drilling solution is an advanced technology that provides engineering support for various drilling activities. Smart drilling solutions help to provide real-time data from the tip of the drill bit. smart drilling solutions provide real-time data aggregation and visualization systems to transform oil well construction, enhance drilling performance, and improve the operation of the oil well. The demand for smart drilling solutions is huge in various sectors such as oil & gas, mining, and construction field
The Smart Drilling Solutions market study is segmented, by Application (Shale gas, Deepwater, Geothermal, Vertical and directional drilling and Others) and major geographies with country level break-up.
The market is expected to grow in the oil & gas and Mining Industry. It has wide application for horizontal and directional well drilling activities. Several companies such as L&T, Schlumberger Limited, Energy Dais are operating in the market to provide customers better offer with various features & unique offerings. The market is a partially fragmented market with the presence of several market players and local players. The demand for smart drilling solutions is huge which is triggering market growth over the forecast period
Smart Drilling Services Limited (Nigeria), Energy Dais (India), Schlumberger Limited (United States), EEY Group (France), Newsco International Energy Services Inc (United States), Larsen & Toubro Infotech Limited (India), Nabors Industries Ltd (Bermuda), NOV Inc (United States), Chevron Phillips Chemical Company LLC (United States), Wellsmart Drilling (Nigeria), CITADEL DRILLING (United States), Hydro Drilling S.r.l. (Italy), Baker Hughes Company (United States), Infosys Limited (India) and Others are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Smart Drilling Solutions market by Type, Application and Region.
On the basis of geography, the market of Smart Drilling Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On September 2021, Halliburton (HAL) had acquired Well-Drilling Contract in Israel
On September 2019 ZYFRA, a Finland-based IoT and AI solutions provider, has announced that it will be using IoT-based “smart drilling” software systems to help India increase oil productivity by up to 30 percent and reduce construction times by half.
Market Trend
- Automation of invoicing process for a downstream global oil & gas Company
Market Drivers
- Large skilled manpower is required in order to operate
Opportunities
- It can help to reduce 40% Turnaround time
- Drilling equipment and technologies help make your drilling operations more efficient and cost-effective.
Restraints
- Skilled labour is required for operation
Challenges
- The maintenance cost is very high
Key Target Audience
OEM (Original Equipment Manufacturer), Supplier, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-Use Industry