Global Digital Oilfield Market 2017-2021 with Baker Hughes, Halliburton, Honeywell International, Schlumberger & Weatherford International Dominating - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Global Digital Oilfield Market 2017-2021" report to their offering.

Global digital oilfield market to grow at a CAGR of 4.68% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the global digital oilfield market for 2017-2021. To calculate the market size, the report covers the present scenario and the growth prospects of the global digital oilfield market for the period 2017-2021. The report also includes a discussion of the Key vendors operating in this market.

One trend in the market is the growth of unconventional resources. The growing demand from India, China, and the countries in the Middle East are pushing the oil and gas industry to explore the various unconventional forms of energy such as shale gas. According to the World Energy Outlook of the International Energy Agency (IEA), the demand for energy may rise by more than a third by 2035 owing to a 60% growth in standards of living in India, China, and the Middle Eastern countries. The IEA predicted that the US will likely overtake Russia and Saudi Arabia by 2017 and aims at becoming a net explorer of oil by 2030.

Market Dynamics

Market Drivers

  • Migration of drilling into unconventional areas
  • Constant demand for oil and gas
  • Reduction in production costs
  • Increase in E&P activities post seismic survey implementation
  • Demand for real-time information

Market challenges

  • Cyber security concerns
  • Decreasing oil rig counts
  • Focus on reduction of NPT

Market trends

  • Growth of unconventional resources
  • Development of 4D seismic survey technology
  • Growing use of big data analytics and IoT
  • Seismic integration to reduce exploration risk

Key vendors

  • Baker Hughes
  • Halliburton
  • Honeywell International
  • Schlumberger
  • Weatherford International

Other prominent vendors

  • ABB
  • Accenture
  • China National Petroleum Corporation
  • eLynx Technologies
  • Emerson Electric
  • Enbase Energy Technology
  • ExxonMobil
  • GlobaLogix
  • Kongsberg Gruppen
  • MicroSeismic
  • Moxa
  • Paradigm
  • Pason Systems
  • Petrolink
  • Redline Communications
  • Rockwell Automation
  • Schneider Electric
  • Shell
  • Siemens
  • Sinopec

For more information about this report visit http://www.researchandmarkets.com/research/g73vrk/global_digital

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Oilfield Equipment and Services

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Oilfield Equipment and Services