Leading Digital Oilfield Solution Markets Databank

Leading Digital Oilfield Solution Markets Databank

The Digital Oilfield market was valued at $22,153.2 Million in 2020, and is projected to reach $30,438.7 Million by 2029 growing at a CAGR of 3.64% from 2021 to 2029. Hardware Solutions segment is expected to be the highest contributor to this market, with $16,191.2 Million in 2020, and is anticipated to reach $21,459.7 Million by 2029, registering a CAGR of 3.23%. Data Storage Solutions segment is anticipated to reach $2,004.3 Million by 2029 with the highest CAGR of 6.49%. Hardware Solutions and Software & Service Solutions segments collectively expected to account for about 94.9% share of the Digital Oilfield market in 2020, with the former constituting around 73.1% share. Data Storage Solutions and Software & Service Solutions segments are expected to witness significant growth rates at a CAGR of 6.49% and 4.23% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 26.9% in the overall Digital Oilfield market in 2020, and is anticipated to reach 29.5% by 2029.