Smart Oilfield Market
Smart Oilfield Market Global Industry Assessment & Forecast
#
Pages:
136
2021
Nov - 2021
VMR-2021-0477
Segments Covered
By
Processes Production, Reservoir, Drilling Optimization
-
By
Application Onshore, Offshore Application
-
By
Solution Types Hardware, Software & Service, Data Storage Solutions
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
1485.6 Million |
 Revenue 2028:
|
2385.7 Million |
 Revenue CAGR
(2021 - 2028): |
6.1 |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Smart Oilfield Market - Global Market Assessment, 2021 - 2028
The research process involves the exhaustive study of several factors impacting industry dynamics such as competitive landscape, government policies, historical outlook, current market scenario, and other macro/micro factors. The whole research process is divided into three stages namely: Secondary Research, Primary Research, and Data Triangulation. The ratio of the resources involved in each stage differs as per the data availability for a particular section of the report or as per the market dynamics. We have conducted more than 150 primary interviews during the Smart Oilfield market study either through mail or telephone call. Out of the total primary respondents, 30% were from North America, 24% were from Europe, 33% were from the Asia Pacific, and the rest of the respondents were from Latin America and MEA
Secondary Research
Primary Research:
After the secondary research, primary research was used to derive and estimate market numbers for mentioned segments/sub-segments in the Smart Oilfield market. During the primary data collection process, the secondary data was analyzed and revalidated through exhaustive primary research. This helps to study any minutest details of the market along with building a clearer market-specific view for revenue estimations, industry trends, within each end0use industry, and estimate future trends within the market.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Smart Oilfield market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statistics and future market trends.
FAQ
Frequently Asked Question
What is the global demand for Smart Oilfield in terms of revenue?
-
The global Smart Oilfield valued at 1485.6 Million in 2020 and is expected to reach 2385.7 Million in 2028 growing at a CAGR of 6.1%.
Which are the prominent players in the market?
-
The prominent players in the market are Schlumberger Ltd., Halliburton Corporation, Accenture, Baker Hughes, Shell, Weatherford International, Kongsberg, Gruppen, China National Petroleum Corporation, Rockwell Automation, Pason Systems Inc., Siemens, National Oilwell Varco..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 6.1% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Smart Oilfield include
- The advanced techonology which is changing fast in oil and gas industry has made a path for deployment of smart oilfields. The companies are deploying smart oil fields increasingly for maximization of oilfield recovery, drive profitability and eradicate downtime through the integrated workflows. This is anticipated to augment the growth of the market in the years to come.
- The smart oilfield is based on advanced software and hardware and data analysis techniques drives the E&P efficiency of oil and gas mainly. The huge demand for energy and rise in depletion of ‘easy oil’ are growing the deployment of smart oilfields and supporting the growth of the market in the near future.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Smart Oilfield in 2020.
