DUBLIN--(BUSINESS WIRE)--The "Global Oilfield Communications Market - Segmented by Solution, Communication Network, Field Site, (Onshore Communications, Offshore Communications) and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global oilfield communications market was valued at USD 2.85 billion in 2017, and is expected to reach USD 4.21 billion by 2023, growing at a CAGR of 6.72% over the forecast period (2018-2023).
Growing Adoption of Cloud-based Services is the Major Driver for the Market
With growing adoption of cloud-based services, oil companies are compelled to use oil field communication. This keeps their offshore sites connected with the inshore site about production stats, which helps in better supply chain management.
The smooth flow of materials is very important for oil companies as their profitability is highly dependent upon the turnover and downtime needs to be avoided.
Other Key Highlights
- Microwave Communication Network is Expected to Grow Fastest During the Forecast Period
- North America is Expected to Hold the Largest Market Share During the Forecast Period
Major Development in the Market
- Recon got several contracts totaling approximately RMB 6.1 million, or approximately USD 0.9 million, to develop four Internet-of-things oil and gas production projects for three plants of PetroChina Changqing Oilfield Company.
Companies Profiled
- Huawei Technologies Co. Ltd.
- Siemens AG
- Speedcast International Limited
- ABB Ltd.
- Commscope Inc.
- Inmarsat PLC
- Tait Communications
- Baker Hughes Incorporated
- Alcatel-Lucent S.A.
- Ceragon Networks Ltd.
- Rad Data Communications Inc.
- Rignet Inc.
- Hughes Network Systems LLC
- Airspan Networks Inc.
- Commtel Networks Pvt. Ltd.
Key Topics Covered
1. Introduction
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Global Oilfield Communications Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Outlook of the Oilfield Communications Market
For more information about this report visit https://www.researchandmarkets.com/research/8npjpw/global_4_21bn?w=4
