Published On : June 2022 Pages : 180 Category: Energy & Mining Report Code : CM06888
Industry Outlook and Trend Analysis
The Digital Oilfield Market was worth USD during the forecast period. The primary function of the digital oilfield is to boost the recovery of oilfield, diminish non-productive time, and increment gainfulness through the deployment and design of integrated work processes. Digital oilfield work processes combine business process management with cutting edge information technology and designing skill to streamline and, in several cases, mechanize the execution of assignments performed by cross-functional groups. % billion in 2017 and is expected to reach approximately USD billion by 2023, while registering itself at a compound annual growth rate (CAGR) of
Process Outlook and Trend Analysis
Based on the process the market is segmented into production optimization, drilling optimization, reservoir optimization and others. The others portion incorporates maintenance & repair, asset management, and safety management. The production optimization portion drove the digital oilfield market by process and is anticipated to grow at a significant CAGR over the forecast period. Utilizing real-time techniques for production optimization expands the recovery of oil and decrease the non-productive time.
Application outlook and Trend Analysis
The complications in deep-water drilling, alongside the expanding adoption of digital oilfield techniques in several regions where the maximum of the oilfields are located onshore, are foreseen to drive the onshore fragment. Consequently, the expanding production exercises in these locales and diminishment of non-productive time is anticipated to drive the onshore portion at the most astounding rate amid the conjecture time frame.
Solution Outlook and Trend Analysis
The hardware section is evaluated to develop at a speedier rate over the forecast period. The investments by oilfield operators towards technology upgrade and process mechanization empower the organizations to dispense with non-productive time, improve generation, and improve control and monitoring of oil and gas fields, accordingly driving the equipment market amid the figure time frame.
Regional Outlook and Trend Analysis
Europe is anticipated to rule the digital oilfield market amid the figure time frame as the area has a few develop fields in the North Sea which require expanded usage of technological prowess to produce oil. The high number of mature oil & gas fields prompts the expanding interest for digital oilfield solutions, for example, well intervention and upgraded oil recuperation (EOR) methods.
Competitive Insights
The major players in the market are Baker Hughes, Rockwell Automation, Siemens, Schlumberger, Emerson Electric, ABB, Halliburton Technology Centre, Weatherford International and National Oilwell Varco. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Digital Oilfield Market is segmented as follows-
By Process:
By Application:
By Solutions:
By Region
Some of the key questions answered by the report are:
Market Classification
· Digital Oilfield Market, By Process, Estimates and Forecast, 2014-2023($Billion)
o Reservoir Optimization
o Drilling Optimization
o Production Optimization
o Other Processes
· Digital Oilfield Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Onshore
o Offshore
· Digital Oilfield Market, By Solutions, Estimates and Forecast, 2014-2023($Billion)
o Hardware Solutions
o Software & Service Solutions
o Data Storage solutions
· Digital Oilfield Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America Digital Oilfield Market, By Country
o U.S. Digital Oilfield Market
o Canada Digital Oilfield Market
o Mexico Digital Oilfield Market
o Europe
§ Europe Digital Oilfield Market, By Country
o Germany Digital Oilfield Market
o UK Digital Oilfield Market
o France Digital Oilfield Market
o Russia Digital Oilfield Market
o Italy Digital Oilfield Market
o Rest of Europe Digital Oilfield Market
o Asia-Pacific
§ Asia-Pacific Digital Oilfield Market, By Country
o China Digital Oilfield Market
o Japan Digital Oilfield Market
o South Korea Digital Oilfield Market
o India Digital Oilfield Market
o Southeast Asia Digital Oilfield Market
o Rest of Asia-Pacific Digital Oilfield Market
o South America
§ South America Digital Oilfield Market
o Brazil Digital Oilfield Market
o Argentina Digital Oilfield Market
o Columbia Digital Oilfield Market
o South Africa Digital Oilfield Market
o Rest of South America Digital Oilfield Market
o Middle East and Africa
§ Middle East and Africa Digital Oilfield Market
o Saudi Arabia Digital Oilfield Market
o UAE Digital Oilfield Market
o Egypt Digital Oilfield Market
o Nigeria Digital Oilfield Market
o South Africa Digital Oilfield Market
o Rest of MEA Digital Oilfield Market
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Availability of Cloud Computing Services in Oil & Gas Increases the Adoption of Digital Oilfield Solutions
3.2.1.2. Focus on Process Optimization Through Digitalization By Oil & Gas Operators
3.2.2. Restraints
3.2.2.1. Fluctuating Crude Oil Price
3.2.3. Opportunities
3.2.3.1. Emerging Markets to Offer Lucrative Growth Opportunities
4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2017-2023)
4.1.2. Canada Market States and Outlook (2017-2023)
4.1.3. Mexico Market States and Outlook (2017-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2017-2023)
4.2.2. France Market States and Outlook (2017-2023)
4.2.3. UK Market States and Outlook (2017-2023)
4.2.4. Russia Market States and Outlook (2017-2023)
4.2.5. Italy Market States and Outlook (2017-2023)
4.2.6. Rest of Europe Market States and Outlook (2017-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2017-2023)
4.3.2. Japan Market States and Outlook (2017-2023)
4.3.3. Korea Market States and Outlook (2017-2023)
4.3.4. India Market States and Outlook (2017-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2017-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2017-2023)
4.4.2. Argentina Market States and Outlook (2017-2023)
4.4.3. Columbia Market States and Outlook (2017-2023)
4.4.4. Rest of South America Market States and Outlook (2017-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2017-2023)
4.5.2. UAE Market States and Outlook (2017-2023)
4.5.3. Egypt Market States and Outlook (2017-2023)
4.5.4. Nigeria Market States and Outlook (2017-2023)
4.5.5. South Africa Market States and Outlook (2017-2023)
4.5.6. Rest of MEA Market States and Outlook (2017-2023)
5. Digital Oilfield Market, By Process
5.1. Introduction
5.2. Global Digital Oilfield Revenue and Market Share by Process (2017-2027)
5.2.1. Global Digital Oilfield Revenue and Revenue Share by Process (2017-2027)
5.3. Reservoir Optimization
5.3.1. Global Reservoir Optimization Revenue and Growth Rate (2017-2027)
5.4. Drilling Optimization
5.4.1. Global Drilling Optimization Revenue and Growth Rate (2017-2027)
5.5. Production Optimization
5.5.1. Global Production Optimization Revenue and Growth Rate (2017-2027)
5.6. Other Processes
5.6.1. Global Other Processes Revenue and Growth Rate (2017-2027)
6. Digital Oilfield Market, By Application
6.1. Introduction
6.2. Global Digital Oilfield Revenue and Market Share by Application (2017-2027)
6.2.1. Global Digital Oilfield Revenue and Revenue Share by Application (2017-2027)
6.3. Onshore
6.3.1. Global Onshore Revenue and Growth Rate (2017-2027)
6.4. Offshore
6.4.1. Global Offshore Revenue and Growth Rate (2017-2027)
7. Digital Oilfield Market, By Solution
7.1. Introduction
7.2. Global Digital Oilfield Revenue and Market Share by Solution (2017-2027)
7.2.1. Global Digital Oilfield Revenue and Revenue Share by Solution (2017-2027)
7.3. Hardware Solutions
7.3.1. Global Hardware Solutions Revenue and Growth Rate (2017-2027)
7.4. Software & Service Solutions
7.4.1. Global Software & Service Solutions Revenue and Growth Rate (2017-2027)
7.5. Data Storage solutions
7.5.1. Global Data Storage solutions Revenue and Growth Rate (2017-2027)
8. Digital Oilfield Market, By Region
8.1. Introduction
8.2. Global Digital Oilfield Revenue and Market Share by Regions
8.2.1. Global Digital Oilfield Revenue by Regions (2017-2027)
8.3. North America Digital Oilfield by Countries
8.3.1. North America Digital Oilfield Revenue and Growth Rate (2017-2027)
8.3.2. North America Digital Oilfield Revenue (Million USD) by Countries (2017-2027)
8.3.3. U.S.
8.3.3.1. United States Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.4. Canada
8.3.4.1. Canada Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.5. Mexico
8.3.5.1. Mexico Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Digital Oilfield by Countries
8.4.1. Europe Digital Oilfield Revenue and Growth Rate (2017-2027)
8.4.2. Europe Digital Oilfield Revenue (Million USD) by Countries (2017-2027)
8.4.3. Germany
8.4.3.1. Germany Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.4. UK
8.4.4.1. UK Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.5. France
8.4.5.1. France Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. Russia
8.4.6.1. Russia Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. Italy
8.4.7.1. Italy Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Rest of Europe
8.4.8.1. Rest of Europe Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Digital Oilfield Revenue and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Digital Oilfield Revenue (Million USD) by Countries (2017-2027)
8.5.3. China
8.5.3.1. China Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.4. Japan
8.5.4.1. Japan Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.4.2.
8.5.5. Korea
8.5.5.1. Korea Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. India
8.5.6.1. India Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.7. Southeast Asia
8.5.7.1. Southeast Asia Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. Rest of Asia-Pacific
8.5.8.1. Rest of Asia-Pacific Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Digital Oilfield Revenue and Growth Rate (2017-2027)
8.6.2. South America Digital Oilfield Revenue (Million USD) by Countries (2017-2027)
8.6.3. Brazil
8.6.3.1. Brazil Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.4. Argentina
8.6.4.1. Argentina Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.5. Columbia
8.6.5.1. Columbia Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Rest of South America
8.6.6.1. Rest of South America Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Digital Oilfield Revenue and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Digital Oilfield Revenue (Million USD) by Countries (2017-2027)
8.7.3. Saudi Arabia
8.7.3.1. Saudi Arabia Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.4. United Arab Emirates
8.7.4.1. United Arab Emirates Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.5. Egypt
8.7.5.1. Egypt Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. Nigeria
8.7.6.1. Nigeria Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. South Africa
8.7.7.1. South Africa Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Rest of Middle East and Africa
8.7.8.1. Rest of Middle East and Africa Digital Oilfield Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. Schlumberger
9.1.1. Business Overview
9.1.2. Product Portfolio
9.1.3. Strategic Developments
9.1.4. Revenue and Market Share
9.2. Weatherford
9.2.1. Business Overview
9.2.2. Product Portfolio
9.2.3. Strategic Developments
9.2.4. Revenue and Market Share
9.3. BHGE
9.3.1. Business Overview
9.3.2. Product Portfolio
9.3.3. Strategic Developments
9.3.4. Revenue and Market Share
9.4. Halliburton
9.4.1. Business Overview
9.4.2. Product Portfolio
9.4.3. Strategic Developments
9.4.4. Revenue and Market Share
9.5. National Oilwell Varco
9.5.1. Business Overview
9.5.2. Product Portfolio
9.5.3. Strategic Developments
9.5.4. Revenue and Market Share
9.6. ABB
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. Revenue and Market Share
9.7. Emerson
9.7.1. Business Overview
9.7.2. Product Portfolio
9.7.3. Strategic Developments
9.7.4. Revenue and Market Share
9.8. Rockwell
9.8.1. Business Overview
9.8.2. Product Portfolio
9.8.3. Strategic Developments
9.8.4. Revenue and Market Share
9.9. Siemens
9.9.1. Business Overview
9.9.2. Product Portfolio
9.9.3. Strategic Developments
9.9.4. Revenue and Market Share
9.10. Honeywell
9.10.1. Business Overview
9.10.2. Product Portfolio
9.10.3. Strategic Developments
9.10.4. Revenue and Market Share
10. Global Digital Oilfield Market Competition, by Manufacturer
10.1. Global Digital Oilfield Revenue and Market Share by Manufacturer (2017-2017)
10.2. Global Digital Oilfield Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global Digital Oilfield Price by Manufacturer (2017-2017)
10.4. Top 5 Digital Oilfield Manufacturer Market Share
10.5. Market Competition Trend
11. Digital Oilfield Market Forecast (2027-2023)
11.1. Global Digital Oilfield Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Digital Oilfield Market Forecast by Regions (2027-2023)
11.2.1. North America Digital Oilfield Market Forecast (2027-2023)
11.2.1.1. United States Digital Oilfield Market Forecast (2027-2023)
11.2.1.2. Canada Digital Oilfield Market Forecast (2027-2023)
11.2.1.3. Mexico Digital Oilfield Market Forecast (2027-2023)
11.2.2. Europe Digital Oilfield Market Forecast (2027-2023)
11.2.2.1. Germany Digital Oilfield Market Forecast (2027-2023)
11.2.2.2. United Kingdom Digital Oilfields Market Forecast (2027-2023)
11.2.2.3. France Digital Oilfield Market Forecast (2027-2023)
11.2.2.4. Russia Digital Oilfield Market Forecast (2027-2023)
11.2.2.5. Italy Digital Oilfield Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Digital Oilfield Market Forecast (2027-2023)
11.2.3. Asia-Pacific Digital Oilfield Market Forecast (2027-2023)
11.2.3.1. China Digital Oilfield Market Forecast (2027-2023)
11.2.3.2. Japan Digital Oilfield Market Forecast (2027-2023)
11.2.3.3. Korea Digital Oilfield Market Forecast (2027-2023)
11.2.3.4. India Digital Oilfield Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Digital Oilfield Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Digital Oilfield Market Forecast (2027-2023)
11.2.4. South America Digital Oilfield Market Forecast (2027-2023)
11.2.4.1. Brazil Digital Oilfield Market Forecast (2027-2023)
11.2.4.2. Argentina Digital Oilfield Market Forecast (2027-2023)
11.2.4.3. Columbia Digital Oilfield Market Forecast (2027-2023)
11.2.4.4. Rest of South America Digital Oilfield Market Forecast (2027-2023)
11.2.5. Middle East and Africa Digital Oilfield Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Digital Oilfield Market Forecast (2027-2023)
11.2.5.2. UAE Digital Oilfield Market Forecast (2027-2023)
11.2.5.3. Egypt Digital Oilfield Market Forecast (2027-2023)
11.2.5.4. Nigeria Digital Oilfield Market Forecast (2027-2023)
11.2.5.5. South Africa Digital Oilfield Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Digital Oilfield Market Forecast (2027-2023)
11.3. Digital Oilfield Market Forecast by Process (2027-2023)
11.3.1. Global Digital Oilfield Revenue Forecast by Process (2027-2023)
11.3.2. Global Digital Oilfield Revenue Market Share Forecast by Process (2027-2023)
11.4. Digital Oilfield Market Forecast by Application (2027-2023)
11.4.1. Global Digital Oilfield Revenue Forecast by Application (2027-2023)
11.4.2. Global Digital Oilfield Revenue Market Share Forecast by Application (2027-2023)
11.5. Digital Oilfield Market Forecast by Solution (2027-2023)
11.5.1. Global Digital Oilfield Revenue Forecast by Solution (2027-2023)
11.5.2. Global Digital Oilfield Revenue Market Share Forecast by Solution (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Digital Oilfield Market.
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix |
Supply Side |
Demand Side |
Primary Data Sources |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
Qualitative Data |
Quantitative Data (2017-2025) |
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