Digital oilfields refer to the digital platform used for connection and collaboration of on and offshore operation in oil and gas sector. The digital oilfield helps improve the production and maximizes Oilfield recovery, limiting non-productive time thereby increasing profitability of the firm. Automation and Instrumentation accounted for the largest market size in 2015 and it is expected to dominate the revenues in the digital oilfield market over the forecast period. Global Digital Oilfield Market is expected to grow at a CAGR between 4.0% and 4.5% over the Forecast period 2016 to 2022. It is was worth USD 24.60 billion in 2014. Digital oilfields refer to the digital platform used for connection and collaboration of on and offshore operation in oil and gas sector. The digital oilfield helps improve the production and maximizes Oilfield recovery, limiting non-productive time thereby increasing profitability of the firm. Automation and Instrumentation accounted for the largest market size in 2015 and it is expected to dominate the revenues in the digital oilfield market over the forecast period. The Global Digital Oilfield Market is expected to be primarily driven by Factors such as growing demand for crude oil, Need of Integrated operations to increase efficient and optimal E & P and Producing Oil from Mature Oilfield. However, the growth in the Global Digital Oilfield Market is likely to be restrained by factors such as High investment costs and longer duration of implementation, and Volatile crude oil prices. Segments Covered The Digital Oilfield Market is segmented on the basis of Services, Processes, and region. The segmentation on the basis of Services covers Automation and Instrumentation, and IT Services. The Automation and Instrumentation segment further includes DSC, SCADA, Smart Well, Safety Systems, Wireless Sensor, PLC, CPM and Others. The IT Services segment is further divided into IT outsourcing, Software, IT Services and Commissioning and computer equipment/hardware. On the basis of Processes the market is segmented as Reservoir, Production optimization, Drilling Optimizations and others. Among the processes the production optimization segment accounted for the largest market size in 2015.Geographic Coverage The regions covered in the report include Americas, Europe, Asia-Pacific, and Middle East and Africa. The Americas region covers the markets such as North America, and South America. Furthermore Europe includes the country markets such as Russia, U.K., and Rest of Europe. The Asia-Pacific region covers the analysis of countries such as China Malaysia India Australia and Rest of APAC. Among the geographies Europe is expected to be the largest market for Digital Oilfield Market closely followed by Americas over the Forecast period 2016 to 2022. Furthermore Asia-Pacific is expected to grow at the highest CAGR over the forecast period Companies Covered The companies covered in the report include Baker Hughes Incorporated ,Schlumberger Limited ,National Oilwell Varco, Inc., Halliburton Company, Honeywell International Inc.,Weatherford International PLC ,Paradigm Limited ,Pason Systems Inc. ,and ABB Limited.
Table of contents
1. Report Overview 1.1 Report Description 1.2 Research Methods 1.3 Research Approaches 2. Executive Summary 3. Digital Oilfield Market Overview
