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Digital Oilfields Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMEP21475

Download Sample Report
Published On

October 2021

Total pages

263

About the Report

Digital oilfield is a process which combines the business aspect with digital technologies that leads to automation of workflows and maximization of productivity. In addition to this it also reduces cost and minimizes the overall risk that is associated with oil and gas operations. Digital oilfields are designed such that they can transform the upstream sector by creating a 'digital twin' that replicate the performance of an oilfield on the computer.

The digital oilfield hopes to improve the attractiveness of the oil and gas sectors by converging operational technology with information technology, especially in a low oil price environment. In the last 15 years, adoption of digital oilfields has gained popularity due to technological advancements like sensing, automation, connectivity and data analytics.

A comprehensive implementation of digital oilfields can assist oil and gas companies in increasing operational efficiency, collaboration, production optimization, data integration, workflow automation and decision support. Furthermore, it can benefit in achieving productivity gains through improved reservoir understanding, remote monitoring of drilling and completion operations and through logistics and supply chain optimization.

Based on Process, the Digital Oilfield market is segmented into Production Optimization, Drilling Optimization, Reservoir Optimization, Safety Management, and Others. Amongst Process, the Production Optimization segment of the market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027.

Based on Application, the Digital Oilfield market is segmented into Onshore and Offshore. Amongst application, Onshore segment accounted for a market valuation of USD XX billion in 2020 and is expected to reach USD XX billion by the year 2027, at a CAGR of XX% over the analysed period.

Based on Service, the Digital Oilfield market is segmented into Instrumentation & Automation and Information Technology. Instrumentation & Automation is further sub segmented into Security Systems, Smart Wells, Wireless Systems, Distributed Control Systems and SCADA. Information Technology is further sub segmented into Software, Computer Equipment & Application Hardware, IT Outsourcing Services, and Others. Amongst Service, the Instrumentation and Automation segment of the market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027.

Based on Technology, the Digital Oilfield market is segmented into IoT, Advance Analytics, Robotics, Cloud Computing, Mobility and Others. Amongst Technology, the IoT segment of the market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027.

For a better understanding of the market adoption of Digital Oilfield Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Digital Oilfield market on account of increasing uses of crude oil.

Some of the major players operating in the market include Weatherford International, NOV, ABB, Emerson, Rockwell Automation, Siemens, Honeywell International, CGG, Kongsberg, and Digi International. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Digital Oilfield Market was valued at USD 24 billion in 2020 and is projected to expand significantly with a CAGR of 6% from 2021-2027F to USD 39 billion in 2027. The Digital Oilfield Market is expected to witness a boost on account of its high adoption in the North America region.

Scope of the Report

Products

Digital Oilfield Market was valued at USD 24 billion in 2020 and is projected to expand significantly with a CAGR of 6% from 2021-2027F to USD 39 billion in 2027.

Companies

Weatherford International, NOV, ABB, Emerson, Rockwell Automation, Siemens, Honeywell International, CGG, Kongsberg, and Digi International

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Objective of the Study

1.3. Limitation

1.4. Stake Holders

1.5. Currency Used in Report

1.6. Scope of the Digital Oilfields Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Methodology for the Digital Oilfields Market

2.1.1. Main Objective of the Digital Oilfields Market

3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)

4 EXECUTIVE SUMMARY

5 DIGITAL OILFIELDS MARKET REVENUE, 2019-2027F

6 COVID-19 IMPACT

7 MARKET INSIGHTS BY PROCESS

7.1. Production Optimization

7.2. Drilling Optimization

7.3. Reservoir Optimization

7.4. Safety Management

7.5. Others

8 MARKET INSIGHTS BY APPLICATION

8.1. Onshore

8.2. Offshore

9 MARKET INSIGHTS BY SERVICE

9.1. Instrumentation & Automation

9.1.1. Security Systems

9.1.2. Smart Wells

9.1.3. Wireless Systems

9.1.4. Distributed Control Systems

9.1.5. SCADA

9.2. Information Technology

9.2.1. Software

9.2.2. Computer Equipment & Application Hardware

9.2.3. IT Outsourcing Services

9.2.4. Others

10 MARKET INSIGHTS BY TECHNOLOGY

10.1. IoT

10.2. Advance Analytics

10.3. Robotics

10.4. Cloud Computing

10.5. Mobility

10.6. Others

11 MARKET INSIGHTS BY REGION

11.1. NORTH AMERICA DIGITAL OILFIELDS MARKET

11.1.1. United States

11.1.2. Canada

11.1.3. Rest of North America

11.2. EUROPE DIGITAL OILFIELDS MARKET

11.2.1. United Kingdom

11.2.2. Germany

11.2.3. France

11.2.4. Spain

11.2.5. Italy

11.2.6. Rest of Europe

11.3. ASIA-PACIFIC DIGITAL OILFIELDS MARKET

11.3.1. China

11.3.2. Japan

11.3.3. India

11.3.4. Australia

11.3.5. Rest of Asia-Pacific

11.4. REST OF THE WORLD DIGITAL OILFIELDS MARKET

12 DIGITAL OILFIELDS MARKET DYNAMICS

12.1. Drivers

12.2. Challenges

12.3. Impact Analysis

13 DIGITAL OILFIELDS MARKET OPPORTUNITIES

14 DIGITAL OILFIELDS MARKET TRENDS

15 LEGAL AND REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1. Demand Side Analysis

16.2. Supply Side Analysis

16.2.1. Top Product Launches

16.2.2. Top Business Partnerships

16.2.3. Top Business Expansions, Investments and Divestitures

16.2.4. Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

19.1. Weatherford International

19.2. NOV

19.3. ABB

19.4. Emerson

19.5. Rockwell Automation

19.6. Siemens

19.7. Honeywell International

19.8. CGG

19.9. Kongsberg

19.10. Digi International

20 DISCLAIMER

Research Methodology

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