Global Digital Oil Field Services Market Outlook - Market Analysis by Geography, By Services and Processes , Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 133 | Published By - Mordor Intelligence

Report Highlights

Digital oil field services are used to enhance the visibility and control of the oil and gas operations for oil and gas companies. Leveraging new technologies, including in-memory computing, enterprise mobility and analytics to integrate processes will help make better decisions on the field. Use of digital oil field services will integrate production, maintenance, and engineering operations. Few of the other significant uses of digital oil field services are

To streamline data collection, validation, surveillance, and notification processes.
Close the gap between decision making and execution in the field.
Increase operational insight and create accurate production plans.
Improve business and compliance processes for revenue, land and financial functions.

Global Digital Oil Field Services market is expected to grow at a CAGR of 6 percent up to 2022. Advantages of Digital Oil Field services like efficiency, prolonged well life and operational capabilities in high risk locations are driving the market, while high initial investment is strangling it.    

The exploration activity for new oil and gas resources has been increased in recent years. North America is poised to lead the digital oil field services market in the coming decade as a result of increased deep water exploration activity in some areas such as Gulf of Mexico and in shale areas. Service providers and manufacturing companies are actively looking in to regions like North America and Asia-Pacific as these regions have found huge shale reserves and huge exploration activity is undergoing or planned in the coming decade.

Europe has a decent market opportunity for digital oil field services market as the North Sea exploration activity has been moved to much deeper waters and these operations require very complex and accurate measuring systems in the fields daily operations.   Ability to operate in tougher environmental conditions, increasing investments in exploration activities across the globe are driving the market and on the flip side lack of skilled labor, high initial investments are some of the factors constraining the market from growth.

This report extensively analyzes the Digital Oil Field Services market by segmenting it based on geography, processes (Reservoir Optimization, Production Optimization, Drilling Optimization and others) and services. Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.  
 

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