U.S. Markets open in 4 hrs 24 mins

Global Digital Oilfield Market: Trends Analysis & Forecasts up to 2022 - By Services, Processes & Region - Research and Markets

DUBLIN--(BUSINESS WIRE)--

Research and Markets has announced the addition of the "Global Digital Oilfield Market: Trends Analysis and Forecasts up to 2022" report to their offering.

Global Digital Oilfield Market is expected to grow at a CAGR between 4.0% and 4.5% over the forecast period 2016 to 2022. It is was worth USD 24.60 billion in 2014.

Digital oilfields refer to the digital platform used for connection and collaboration of on and offshore operation in oil and gas sector. The digital oilfield helps improve the production and maximizes Oilfield recovery, limiting non-productive time thereby increasing profitability of the firm.

Automation and Instrumentation accounted for the largest market size in 2015 and it is expected to dominate the revenues in the digital oilfield market over the forecast period. The Global Digital Oilfield Market is expected to be primarily driven by factors such as growing demand for crude oil, need of Integrated operations to increase efficient and optimal E & P and producing oil from mature oilfield. However, the growth in the Global Digital Oilfield Market is likely to be restrained by factors such as high investment costs and longer duration of implementation, and volatile crude oil prices.

Companies Mentioned

  • ABB Limited
  • Baker Hughes Incorporated
  • Halliburton Company
  • Honeywell International Inc.
  • National Oilwell Varco Inc.
  • Paradigm Limited
  • Pason Systems Inc.
  • Schlumberger Limited
  • Weatherford International PLC

Key Topics Covered:

1. Report Overview

2. Executive Summary

3. Digital Oilfield Market Overview

4. Global Digital Oilfield Market by Services

5. Global Digital Oilfield Market by Processes

6. Global Digital Oilfield Market by Region

7. Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/s9pq2m/global_digital

View source version on businesswire.com: http://www.businesswire.com/news/home/20170220005612/en/