Smart Oilfield Market
Smart Oilfield Market Analysis Report By Processes (Production, Reservoir, Drilling Optimization), By Solution (Hardware, Software & Service, Data Storage Solutions), By Application (Onshore, Offshore) - Regional Forecast To 2028
Analysis of Smart Oilfield market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Introduction
The oil and gas companies are increasingly gravitating towards embracing innovation as oil prices sluggishly recover from the 2014 crash and rising investments in substitute sources of renewable energy gain momentum. Technological advancements are expected to shape the future of oil and gas with companies incorporating smart technologies to stay competitive and keep the fuel flowing.
Growing penetration of technology in the oil and gas industry has paved the way for the deployment of smart oilfields. Companies are increasingly deploying smart oil fields to maximize oilfield recovery, eradicate downtime, and drive profitability via integrated workflows. Highly advanced smart oil fields also help oil companies in redeveloping existing oil fields and enhance oil well management. These factors are anticipated to drive growth in the smart oilfield market.
The smart oilfield is based on advanced software, hardware, and data analysis techniques and drives the E&P efficiency of oil and gas significantly. The ever-growing demand for energy and growing depletion of ‘easy oil’ are increasing the deployment of smart oilfields, which facilitate in maximizing oilfield recovery by reducing non-productive time are favoring growth in smart oilfield market.
Rapid advancements in the oilfields technology are likely to bring positive changes in the smart oilfield market. Furthermore, with leading vendors in the smart oilfield market, such as Halliburton and CNPC considerably investing in the R&D, the reliability and efficiency of these oilfields are expected to undergo significant improvements in the forthcoming years.
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Global Smart Oilfield Market – Overview
The smart oilfield, also known as digital oilfield, has become one of the most trending topics in today’s 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 oilfield, the smart oilfield helps in achieving maximum productivity by bringing intelligent automation and monitoring `the oilfield. Today’s smart oilfields usually collect real-time data from pump flow sensors, pressure and temperature meters, tank-level sensors and many other I/O devices and send the collected data to the central server and control room. The data is further analyzed in order to provide real-time insight into the current situation. Many of the smart oilfields also provide the utility of live video feeds for visual monitoring and evaluation. The smart oilfield allows the reservoir engineers and laboratory technicians to access the real-time data and allows them to make desired changes remotely via tablet, notebook and other devices.
With increasing demand for energy from developed and developing countries and decreasing oil reserves, the oil and gas companies need to find new ways to increase productivity along with the reduced cost, which in turn increases the adoption of smart oilfield technology. Owing to the above-mentioned facts, the global market for smart oilfield is anticipated to grow at a significant CAGR over the forecast period.
Smart Oilfield Market – Market Dynamics
Oil and gas companies have been investing heavily in digital technologies after the 2014 price crash to cut costs. Through the smart oilfield technology, oil supermajors can eke out the last drop of profit from every oil barrel that they sell, which is particularly vital as the region has finite reserves. The transition to smart oilfield may require a huge amount of money but due to effective integration of design and workflow, the ROI and profitability will increase by reducing the production cost. As a consequence, this is anticipated to auger well for the growth of the global smart oilfield market.
Increasing use of wireless technology and pervasive ethernet in smart oilfield may raise concerns regarding reliability and cyber intrusion. Connectivity and networking in a smart oilfield could save thousands of dollars in operating cost reduction but no network is completely secure. But the use of the less reliable simple serial network in a smart oilfield may hinder the growth of the market. On the other hand, the weak digital infrastructure in emerging economies could also be responsible for the slow growth of smart oilfield market in some regions.
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Smart Oilfield Market – Regional Analysis
The smart oilfield market can be segmented into seven regions which include North America, Latin America, Europe, CIS & Russia, Japan, APEJ (Asia Pacific except Japan) and the Middle East and Africa. Growth prospects of smart oilfield market are almost stagnant in North America. On the other hand, the future of smart oilfield market in the emerging geographies like China, India, Mexico and ASEAN are prominent because of the weak digital infrastructure, which, in turn, will increase the demand in the future. Europe is anticipated to be the largest smart oilfield market over the forecast period.
Smart Oilfield Market – Key Manufacturers
Halliburton, China National Petroleum Corporation (CNPC), Baker Hughes, Honeywell International and Schlumberger are some of the key players of the smart oilfield market. Some other prominent players of the smart oilfield market are Kongsberg Gruppen, Microseismic, National Oilwell Varco, Paradigm, Petrolink, Redline Communications Group, Rockwell Automation, Shell, Siemens, Weatherford and many more.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
- Technology
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Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Smart Oilfield Market – Key Segments
Smart oilfield market can be segmented
-
on the basis of processes, which includes
- production
- reservoir
- drilling optimization.
-
On the basis of application, the smart oilfield market can be segmented into
- onshore
- offshore applications.
In which onshore application is anticipated to occupy larger share as compared to offshore smart oilfields over the forecast period.
-
In terms of solution types, the global smart oilfield market is further segmented into
- hardware
- software & service
- data storage solutions.
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Processes
- 6.2. Application
- 6.3. Solution Types
- 7. Global Market Analysis and Forecast, By Processes
- 7.1. Production
- 7.2. Reservoir
- 7.3. Drilling Optimization
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Onshore
- 8.2. Offshore
- 9. Global Market Analysis and Forecast, By Solution Types
- 9.1. Hardware
- 9.2. Software & Service
- 9.3. Data Storage Solutions
- 10. Global Market Analysis and Forecast, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Western Europe
- 10.4. Eastern Europe
- 10.5. Asia Pacific
- 10.6. East Asia
- 10.7. MEA
- 11. North America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 17. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 18. Sales Forecast by Processes, Application, and Solution Types for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. Schlumberger Limited
- 20.2. Halliburton Company
- 20.3. Baker Hughes, a GE company
- 20.4. Weatherford International plc
- 20.5. Cameron International Corporation
- 20.6. Rockwell Automation Inc.
- 20.7. Emerson Electric Co.
- 20.8. Honeywell International Inc.
- 20.9. Siemens AG
- 20.10. National Oilwell Varco (NOV)
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List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Processes
Table 03: Global Market US$ Mn Forecast by Application
Table 04: Global Market US$ Mn Forecast by Solution Types
Table 05: North America Market US$ Mn Forecast by Country
Table 06: North America Market US$ Mn Forecast by Processes
Table 07: North America Market US$ Mn Forecast by Application
Table 08: North America Market US$ Mn Forecast by Solution Types
Table 09: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Processes
Table 11: Latin America Market US$ Mn Forecast by Application
Table 12: Latin America Market US$ Mn Forecast by Solution Types
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Processes
Table 15: Western Europe Market US$ Mn Forecast by Application
Table 16: Western Europe Market US$ Mn Forecast by Solution Types
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Processes
Table 19: Eastern Europe Market US$ Mn Forecast by Application
Table 20: Eastern Europe Market US$ Mn Forecast by Solution Types
Table 21: Asia Pacific Market US$ Mn Forecast by Country
Table 22: Asia Pacific Market US$ Mn Forecast by Processes
Table 23: Asia Pacific Market US$ Mn Forecast by Application
Table 24: Asia Pacific Market US$ Mn Forecast by Solution Types
Table 25: East Asia Market US$ Mn Forecast by Country
Table 26: East Asia Market US$ Mn Forecast by Processes
Table 27: East Asia Market US$ Mn Forecast by Application
Table 28: East Asia Market US$ Mn Forecast by Solution Types
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Processes
Table 31: MEA Market US$ Mn Forecast by Application
Table 32: MEA Market US$ Mn Forecast by Solution Types
Table 33: Region Market US$ Mn Forecast by Country
Table 34: Region Market US$ Mn Forecast by Processes
Table 35: Region Market US$ Mn Forecast by Application
Table 36: Region Market US$ Mn Forecast by Solution Types
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 22: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 24: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 33: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Processes
Figure 34: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 35: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Solution Types
Figure 36: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Smart Oilfield Market