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Global Digital Oilfield Market Size Study & Forecast, By Service (Upstream, Midstream, Downstream), By Application Type (IT Services, Instrumentation and Automation), and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: GAA8053BA7D8EN
Bizwit Research & Consulting LLP

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Global Digital Oilfield Market is valued at approximately USD 34.98 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2023-2030. A Digital Oilfield refers to the integration of advanced digital technologies like sensors, data analytics, AI, and IoT into the oil and gas industry's operations. It aims to optimize processes, enhance safety, reduce costs, and minimize environmental impact by leveraging real-time data and predictive analytics. Components include sensors for real-time data collection, data management systems, AI algorithms for predictive maintenance, remote monitoring and control capabilities, visualization tools, and integrated workflows. Oil and gas industries employ a wide range of digital technologies across upstream, downstream, and midstream operations to boost efficiency. These technologies, including hardware, software, and services, aid in achieving multiple benefits such as enhanced recovery, resource optimization, reduced rig downtime, and overall operational flexibility and reliability. They facilitate smart solutions for data analysis, integration, and processing. The advancement of drilling capabilities for onshore and offshore wells at various depths, coupled with efforts to maximize asset returns, has fueled the adoption of advanced oilfield technology in diverse regions. The Digital Oilfield Market is expanding because of factors such as the renewal of mature oilfields, the growing need for a safe environment for personnel working on oilfield projects, and rising environmental concerns. Also, the rise in unconventional oil and gas reserves, alongside diminishing production from existing wells, is spurring the need for digitization in oilfields. Digital oilfield technologies offer remote monitoring and automated operations from a centralized hub, leading to reduced overall operational costs.

In addition, the growing investment in oil & gas exploration and production operations is acting as a catalyzing factor for market growth across the globe. This demand is propelled by the need for improved operational efficiency, especially in complex and remote environments. According to Statista, global investment in oil and gas was estimated to account for USD 270 billion in 2020 and the figure increased and reached USD 307 billion in the year 2022. As the oil and gas industry continues to expand, the proliferation of digital oilfields is expected to increase around the world. Digital Oilfield solutions enable real-time monitoring, predictive maintenance, and data analytics, enhancing decision-making and resource optimization. Additionally, these technologies support regulatory compliance and safety measures, making them essential for modern oil and gas operations. Thus, these aforementioned factors are propelling the growth of the Digital Oilfield Market during the estimated period. Moreover, the rising inclination towards real-time monitoring through sensors and IoT devices, as well as the increasing investment in offshore exploration present various lucrative opportunities over the forecast years. However, the increasing cyberattacks and data breaches in the oil and gas sector and the impeded operational efficiency due to limited IT infrastructure are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Digital Oilfield Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the region boasting significant oil and gas reserves, supported by a robust IT infrastructure that includes advanced communication networks and widespread internet access. These technological capabilities enable seamless data transmission and real-time monitoring, enhancing efficiency in the energy sector. Also, the regional market growth is mainly driven by leading digital oilfield technology providers like Halliburton, Schlumberger, and Rockwell Automation. These companies are heavily investing in research and development, making digital oilfield technologies more accessible. Whereas Asia Pacific is expected to grow at a significant CAGR over the forecast years. Substantial investments in IoT and analytics, combined with a thriving downstream sector in China and India, are poised to fuel regional growth. Also, strategies such as 'Industry 4.0' and the 'Special Project on Intelligent Equipment Manufacturing,' are expected to accelerate the adoption of digital oilfield technologies, particularly intelligent refineries in the downstream refining segment across the region.

Major market players included in this report are:

Halliburton Company (Texas, United States)

Weatherford International plc (Texas, United States)

Siemens AG (Munich, Germany)

Osprey Informatics Ltd. (Calgary, Canada)

International Business Machines Corporation (IBM) (Armonk, New York, United States)

Digi International Inc. (Minnesota, United States)

Microsoft Corporation (Washington, United States)

Baker Hughes Company (Texas, United States)

Kongsberg Digital AS (Asker, Norway)

Rockwell Automation, Inc. (Wisconsin, United States)

Recent Developments in the Market:
  • In June 2023, Halliburton Company entered into a partnership with Nabors Industries to work together on developing sophisticated automated solutions for well construction, with the goal of bringing digital transformation to the services in well construction.
  • In September 2021, Schlumberger and AVEVA forged an agreement to digitally advance gas and oil production operations. This collaboration focused on integrating AI, edge, and cloud digital solutions to improve the efficiency of oil and gas production processes.
Global Digital Oilfield Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Service, Application Type, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Service:

Upstream

Midstream

Downstream

By Application Type:

IT Services

Instrumentation and Automation

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Digital Oilfield Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Digital Oilfield Market, by Service, 2020-2030 (USD Billion)
  1.2.3. Digital Oilfield Market, by Application Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL DIGITAL OILFIELD MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL DIGITAL OILFIELD MARKET DYNAMICS

3.1. Digital Oilfield Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Increasing Renewal oOf Mature Oilfields
    3.1.1.2. Rising Investment iIn Oil & Gas Exploration aAnd Production Operations
  3.1.2. Market Challenges
    3.1.2.1. Increasing Cyberattacks aAnd Data Breaches iIn Oil aAnd Gas Sector
    3.1.2.2. Impeded Operational Efficiency Due tTo Limited ITt Infrastructure
  3.1.3. Market Opportunities
    3.1.3.1. Rising Inclination Towards Real-Time Monitoring tThrough Sensors aAnd IoTt Devices,
    3.1.3.2. Increasing Investment iIn Offshore Exploration

CHAPTER 4. GLOBAL DIGITAL OILFIELD MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL DIGITAL OILFIELD MARKET, BY SERVICE

5.1. Market Snapshot
5.2. Global Digital Oilfield Market by Service, Performance - Potential Analysis
5.3. Global Digital Oilfield Market Estimates & Forecasts by Service 2020-2030 (USD Billion)
5.4. Digital Oilfield Market, Sub Segment Analysis
  5.4.1. Upstream
  5.4.2. Midstream
  5.4.3. Downstream

CHAPTER 6. GLOBAL DIGITAL OILFIELD MARKET, BY APPLICATION TYPE

6.1. Market Snapshot
6.2. Global Digital Oilfield Market by Application Type, Performance - Potential Analysis
6.3. Global Digital Oilfield Market Estimates & Forecasts by Application Type 2020-2030 (USD Billion)
6.4. Digital Oilfield Market, Sub Segment Analysis
  6.4.1. IT Services
  6.4.2. Instrumentation and Automation

CHAPTER 7. GLOBAL DIGITAL OILFIELD MARKET, REGIONAL ANALYSIS

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Digital Oilfield Market, Regional Market Snapshot
7.4. North America Digital Oilfield Market
  7.4.1. U.S. Digital Oilfield Market
    7.4.1.1. Service breakdown estimates & forecasts, 2020-2030
    7.4.1.2. Application Type breakdown estimates & forecasts, 2020-2030
  7.4.2. Canada Digital Oilfield Market
7.5. Europe Digital Oilfield Market Snapshot
  7.5.1. U.K. Digital Oilfield Market
  7.5.2. Germany Digital Oilfield Market
  7.5.3. France Digital Oilfield Market
  7.5.4. Spain Digital Oilfield Market
  7.5.5. Italy Digital Oilfield Market
  7.5.6. Rest of Europe Digital Oilfield Market
7.6. Asia-Pacific Digital Oilfield Market Snapshot
  7.6.1. China Digital Oilfield Market
  7.6.2. India Digital Oilfield Market
  7.6.3. Japan Digital Oilfield Market
  7.6.4. Australia Digital Oilfield Market
  7.6.5. South Korea Digital Oilfield Market
  7.6.6. Rest of Asia Pacific Digital Oilfield Market
7.7. Latin America Digital Oilfield Market Snapshot
  7.7.1. Brazil Digital Oilfield Market
  7.7.2. Mexico Digital Oilfield Market
7.8. Middle East & Africa Digital Oilfield Market
  7.8.1. Saudi Arabia Digital Oilfield Market
  7.8.2. South Africa Digital Oilfield Market
  7.8.3. Rest of Middle East & Africa Digital Oilfield Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Halliburton Company (Texas, United States)
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Recent Developments
  8.3.2. Weatherford International plc (Texas, United States)
  8.3.3. Siemens AG (Munich, Germany)
  8.3.4. Osprey Informatics Ltd. (Calgary, Canada)
  8.3.5. International Business Machines Corporation (IBM) (Armonk, New York, United States)
  8.3.6. Digi International Inc. (Minnesota, United States)
  8.3.7. Microsoft Corporation (Washington, United States)
  8.3.8. Baker Hughes Company (Texas, United States)
  8.3.9. Kongsberg Digital AS (Asker, Norway)
  8.3.10. Rockwell Automation, Inc. (Wisconsin, United States)

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Digital Oilfield Market, report scope
TABLE 2. Global Digital Oilfield Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Digital Oilfield Market estimates & forecasts by Service 2020-2030 (USD Billion)
TABLE 4. Global Digital Oilfield Market estimates & forecasts by Application Type 2020-2030 (USD Billion)
TABLE 5. Global Digital Oilfield Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6. Global Digital Oilfield Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Digital Oilfield Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Digital Oilfield Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Digital Oilfield Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Digital Oilfield Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Digital Oilfield Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Digital Oilfield Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Digital Oilfield Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Digital Oilfield Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. U.S. Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17. U.S. Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. Canada Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. Canada Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. UK Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. UK Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. Germany Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. Germany Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. France Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. France Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. Italy Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. Italy Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Spain Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Spain Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. RoE Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. RoE Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. China Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. China Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. India Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. India Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. Japan Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. Japan Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. South Korea Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. South Korea Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. Australia Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. Australia Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. RoAPAC Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. RoAPAC Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. Brazil Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. Brazil Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Mexico Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Mexico Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. RoLA Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. RoLA Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. Saudi Arabia Digital Oilfield Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. South Africa Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoMEA Digital Oilfield Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. List of secondary sources, used in the study of Gglobal Digital Oilfield Market
TABLE 70. List of primary sources, used in the study of Gglobal Digital Oilfield Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Digital Oilfield Market, research methodology
FIG 2. Global Digital Oilfield Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Digital Oilfield Market, key trends 2022
FIG 5. Global Digital Oilfield Market, growth prospects 2023-2030
FIG 6. Global Digital Oilfield Market, porters 5 force model
FIG 7. Global Digital Oilfield Market, pest analysis
FIG 8. Global Digital Oilfield Market, value chain analysis
FIG 9. Global Digital Oilfield Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Digital Oilfield Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Digital Oilfield Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Digital Oilfield Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Digital Oilfield Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Digital Oilfield Market, regional snapshot 2020 & 2030
FIG 15. North America Digital Oilfield Market 2020 & 2030 (USD Billion)
FIG 16. Europe Digital Oilfield Market 2020 & 2030 (USD Billion)
FIG 17. Asia Ppacific Digital Oilfield Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Digital Oilfield Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Digital Oilfield Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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