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.
๐๐ก๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐:- https://www.astuteanalytica.com/request-sample/digital-oilfield-market
The global digital oilfield market is estimated to reachย 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 BPโs 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.ย 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.
๐๐๐๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐ง๐๐๐ฑ ๐จ๐ ๐๐ฎ๐ฅ๐ฅ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ญ๐ฎ๐๐ฒ ๐๐ญ @ 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 EIAโs International Energy Outlook 2017, India will record the highest consumption of building energy by 2040.ย 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
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/digital-oilfield-market
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