DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Europe Digital Oilfield Market By Process (Drilling Optimization, Production Optimization, Reservoir Optimization, & Others), By Solution (Instrumentation & Automation Vs. IT Services), Competition Forecast & Opportunities, 2012-2022" report to their offering.
Europe digital oilfield market is expected to register a CAGR of more than 4%, in value terms, to surpass $ 5 billion by 2022
In Europe, digital oilfield technologies were first adopted by Norway and United Kingdom for exploiting offshore fields in North Sea. Oil & gas majors in Western Europe such as British Petroleum and Shell were the early adopter of digital oilfield technologies for optimizing their global upstream operations.
Exploration & production investments will start to pour in once companies are confident that crude prices will stabilize in the near future. Once the CAPEX cycle picks up for E&P, the demand for digital oilfield solutions and technologies in Europe is expected to increase during forecast period.
Few of the leading players in Europe digital oilfield market include Siemens AG, ABB Ltd, Kongsberg Gruppen, Weatherford International plc, and Accenture PLC.
The study is useful in providing answers to past, current and future adoption of digital oilfield technologies and solutions in Europe. This study helps in analysing specific country adoption trend of digital oilfield solutions, which are useful for industry stakeholders such as oilfield service providers, IT companies, network & electronic hardware manufacturers, communication service providers, automation solution providers, resellers and channel partners, EPC contractors and sub-contractors, regulatory bodies, and customers.
Market Trends & Developments
- Increasing Partnerships and Joint Ventures
- Growing Consolidation in Digital Oilfield Industry
- Rising Production from Offshore Fields
- Revenue Generation through Aftermarket Services
- Rising Investments in Research & Development
- Downturn in Oil & Gas Industry
- Implementation of Stringent Regulations for Offshore E&P Activities
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Global Digital Oilfield Market Outlook
5. Europe Digital Oilfield Market Outlook
6. Market Dynamics
7. Market Trends & Developments
8. Competitive Landscape
- ABB Ltd
- Accenture PLC
- Kongsberg Gruppen
- Siemens AG
- Weatherford International plc
For more information about this report visit http://www.researchandmarkets.com/research/3v8pf2/europe_digital