LONDON--(BUSINESS WIRE)--Market research firm Technavio has announced the release of their latest report on the global smart oilfield market. This new report will provide expert market insights for the forecast period 2018-2022.
The report will follow up on Technavio’s previous smart oilfield market research, offering an updated analysis of the market with regards to the innovations, current competitive landscape and latest trends and drivers, to provide new predictions for the forecast period.
The upgraded research report on the global smart oilfield market is an integral part of Technavio’s unit operations portfolio. Technavio covers an extensive range of market research reports on the unit operations market, which has been growing steadily over the past few years. Some of the topics include pneumatic equipment, metal casting, injection molding machine, and transformer monitoring solutions.
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Global opportunities for growth
Technavio’s previous report on the global smart oilfield market projected that the Americas was the largest revenue contributor in the global smart oilfield market. North America is the world's second-largest consumer of crude oil owing to the constant demand from countries such as the US, Canada, and Mexico. Factors such as the increasing production from unconventional oil and gas resources such as shale formation will contribute to the growth of the market in the region. In addition, growing energy demand, efforts to maximize production from existing wells, and increasing deep-water exploration activities are some of the major factors driving the market in the Americas.
In the previous report, a senior research analyst at Technavio stated, “The factors such as growing demand for oil and gas and increasing number of maturing oilfields have resulted in the increased adoption of smart oil field technology. These technological advancements will help the oil companies to improve production rates, redevelop existing oil fields, facilitate production from unconventional resources, and improve oil well management. Besides, smart oil fields also facilitate the use of advanced simulation techniques, which improve monitoring and data collection and increase overall recovery from maturing wells.”
Technavio’s new report on the global smart oilfield market will evaluate the key geographical regions and their behavior over the past four years, introducing new data and observations and providing new predictions.
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Detailed analysis at your fingertips
Some of the topics that will be revisited in the new report include:
- Market size and growth rate through 2022
- Major trends in the market
- Competitive vendor landscape and market share analysis of the key players
- Market opportunities and factors impeding growth
Technavio’s report on the global smart oilfield market for the period 2018-2022 is available to order now and will be delivered within one week of purchase.
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