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Digital Oil Field Technology Market worth Projected to Touch USD 30.78 Billion by 2020

Apr 29th 2019 at 12:11 AM

Digital oil field technology is the use of automation, instrumentation and IT technologies together in order to improve our existing oil and gas industry technologies. This integration with the help of software makes the analysis much easier and faster. This technology helps in efficient data management, production process optimization, provide more realistic images of the reservoir. Instrumentation and automation includes communication and network processing technologies such as PLC, SCADA, safety system and smart well. Digital oil field technology market can be segmented on the base of process focus type into Production optimization, Reservoir optimization, Well completion, Drilling and others. The market can also be segmented on the basis of services technologies which include automation, instrumentation and IT.

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Digital oil field technology market can be segmented based on geography into North America, Asia Pacific, Europe, and RoW. Europe is expected to lead in this market followed by North America. North America is enormously involved in unconventional gas production and hence estimated to be a potential region for digital oil field technology market. Improved results, ability to analyze faster and easier are some factors which are driving this market. Increase in exploration activity of unconventional reserves creates a great opportunity for this market.

Some of the key players in digital oil field market include Baker Hughes Incorporation, Halliburton Company, Tata consultancy Services (India), Honeywell International Inc., Microseismic Inc, Merrick System Inc., Emerson Electric company, Microsoft Corporation, ABB Group, Paradigm Ltd., Schlumberger Ltd., TIBCO Software Inc. and Redline Communications Group Inc. along with others.

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

This report provides comprehensive analysis of

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years

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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

Reasons for Buying this Report

  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth
  • It provides a technological growth map over time to understand the industry growth rate
  • It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments

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