Industry Background:
The smart oilfield, also known as digital oilfield, has become one of the most trending topics in the oil & gas industry. The smart oilfield includes the application of advanced software and hardware along with the vast data analysis in order to increase the efficiency of an oil and gas field. Due to the ever-growing energy demand and increasing number of maturing oilfields, the smart oilfield helps in achieving maximum productivity by bringing intelligent automation and monitoring `the oilfield.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | GE(Baker Hughes) (United States), China National Petroleum Corporation (CNPC) (China), Halliburton Corporation (United States), Honeywell International (United States), Schlumberger Ltd (United States), Accenture (Ireland), Kongsberg Gruppen (Norway), Microseismic (United States), National Oilwell Varco (United States) and Pason Systems (Canada) |
This growth is primarily driven by Growing Penetration of Technology in the Oil and Gas Industry and Increasingly Deploying Smart Oil Fields to Maximize Oilfield Recovery.
Globally, a noticeable market trend is evident Highly advanced smart oil fields also help oil companies in redeveloping existing oil fields and enhance oil well management
The Energy & Resources sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as GE(Baker Hughes) (United States), China National Petroleum Corporation (CNPC) (China), Halliburton Corporation (United States), Honeywell International (United States), Schlumberger Ltd (United States), Accenture (Ireland), Kongsberg Gruppen (Norway), Microseismic (United States), National Oilwell Varco (United States) and Pason Systems (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The key players considerably investing in the R&D, the reliability and efficiency of these oilfields are expected to undergo significant improvements in the forthcoming years.
Influencing Trend:
Highly advanced smart oil fields also help oil companies in redeveloping existing oil fields and enhance oil well management and growing demand for energy and growing depletion of ‘easy oil’ are increasing the deployment of smart oilfields
Market Growth Drivers:
Growing Penetration of Technology in the Oil and Gas Industry and Increasingly Deploying Smart Oil Fields to Maximize Oilfield Recovery
Challenges:
Stringent Government Regulations Associated with Smart Oilfield
Restraints:
High Cost Associated with Smart Oilfield
Opportunities:
Rapid advancements in the oilfields technology and increasing demand for energy from developed and developing countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Smart Oilfield Market
- Analysis about New Entrants in Smart Oilfield Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Smart Oilfield Study Sheds Light on
The Smart Oilfield Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Oilfield industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Oilfield industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.