Astute Analytica’s recent report on the global Digital Oilfield Market outlines various sections discussing the prospects of the market. The report contains a thorough analysis of the market, discussing trends, growth factors, challenges, innovations, and outperforming strategies. Based on primary and secondary research, this in-depth analysis includes both qualitative and quantitative studies.
𝐓𝐡𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:- https://www.astuteanalytica.com/request-sample/digital-oilfield-market
The global digital oilfield market is estimated to reach US$ 32 Billion by the end of 2027. Increasing investments for adopting digital technologies in upstream oil & gas is estimated to have a positive impact on the market. Additionally, implementation of advanced technologies such as artificial intelligence, machine learning, internet of things (IoT).
The global Digital Oilfield Market is forecast to experience strong growth potential due to growing energy consumption across the world. It is majorly attributed to the rising population, increasing industrialization, and growing urbanization. Further, the growing range of data centers and other commercial buildings will also contribute to the growth of the market.
COVID-19 Impact Analysis
The global Digital Oilfield Market experienced a sharp decline due to the COVID-19 outbreak. According to data from BP’s Statistical Review of World Energy, Primary energy consumption dropped by nearly 4.5% in 2020, which is considered to be the largest decline since 1945. The same source estimates that the US, India, and Russia witnessed the largest declines in energy consumption. However, China recorded a significant increase of nearly 2.1% in the energy demand. This thorough study by Astute Analytica covers all the factors impacting the market directly or indirectly. The report discusses the contribution of regions and companies in the form of investments and innovative strategies.
𝐑𝐞𝐚𝐝 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐝𝐞𝐱 𝐨𝐟 𝐟𝐮𝐥𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐭𝐮𝐝𝐲 𝐚𝐭 @ https://www.astuteanalytica.com/industry-report/digital-oilfield-market
Regional Analysis
The global Digital Oilfield Market is forecast to record the highest growth in Asia-Pacific due to the presence of highly populated countries like India and China. According to EIA’s International Energy Outlook 2017, India will record the highest consumption of building energy by 2040. Furthermore, the same source estimates that delivered energy consumption for residential and commercial buildings in India is expected to rise at a rate of 2.7 percent per year between 2015 and 2040, which is more than double the global average.
The Global Digital Oilfield Market is segmented into the following categories:
- By Component:
- Hardware
- Distributed control systems (DCS)
- Supervisory control and data acquisition (SCADA)
- Smart wells
- Safety systems
- Wireless sensors
- Programmable logic controller (PLC)
- Computer equipment & application hardware
- Process automation manager
- Human-machine interaction instrument
- Solution/Platform
- IT Services & Commissioning
- Collaborative product management (CPM)
- Data Storage Solutions
- Cloud Hosted
- On-premises
- Hardware
- By Process:
- Production optimization
- Drilling optimization
- Reservoir optimization
- Safety management
- Others
- By Location:
- On-shore
- Off-shore
- By End-users:
- Oil
- Gas
- Pharmaceutical
- Others
- Region:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The U.K.
- Germany
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Russia
- Ukraine
- Poland
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia & NZ
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East
- UAE
- Saudi Arabia
- Qatar
- Egypt
- Rest of the Middle East
- Africa
- South Africa
- Nigeria
- Rest of Africa
- North America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/digital-oilfield-market
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