Digital Oilfield Market Share, Size, Trends, Industry Analysis Report, By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, and Others); By Solution; By Application; By Region; Segment Forecast, 2024- 2032

Digital Oilfield Market Share, Size, Trends, Industry Analysis Report, By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, and Others); By Solution; By Application; By Region; Segment Forecast, 2024- 2032



The global digital oilfield market size is expected to reach USD 50.14 billion by 2032, according to a new study by Polaris Market Research. The report “Digital Oilfield Market Share, Size, Trends, Industry Analysis Report, By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, and Others); By Solution; By Application; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth

The efficiency of the oilfields across the globe is driven by digital initiatives undertaken by major oil-producing countries. Companies are investing heavily in the digitization of oilfields to increase oil production, manage processes, resource optimization, countering accidents, leakage, and unforeseen manual errors. The digital oilfield embodies the next phase of the oil and gas industry's digital revolution. The digital oilfield combines cutting-edge technologies like cloud computing, mobile connectivity, augmented reality, artificial intelligence (AI), and the Internet of Things (IoT) to help operators collect, process, and respond to production-related data in the field instantly.

For instance, TGS & Enertel, with expertise in analytics solutions to streamline the assessment & administration of oil and gas assets, have established a strategic alliance. Through this partnership, operators will receive an integrated solution that allows them to easily access TGS-licensed well data via Enertel's QuantumCast software platform. Through the partnership, Enertel will be able to directly access a customer's entitled TGS well data by utilizing TGS APIs that are directly embedded within QuantumCast. This will allow for enhanced operational efficiency because of their combined capabilities.

Businesses are making significant investments in the digital oilfield. By integrating state-of-the-art digital technology with innovative workflows, the digital oilfield can avoid unplanned equipment and well shutdowns while increasing production and cutting operating expenses. Operators and engineers may use the digital oilfield to examine their facilities in real-time and make smarter decisions for optimal performance as providers learn to exploit more data from all areas of their value chains recorded by the IoT.

The need for digital oil field solutions has increased because of the revolutionary changes made to oil extraction processes by advanced drilling technologies like hydraulic fracturing and directional drilling. By giving businesses access to previously unreachable deposits, these technologies raise oil fields' total productivity and profitability. These drilling methods are integrated with digital oil field tools to offer real-time monitoring and optimization, improving operational effectiveness and decreasing downtime.

Digital Oilfield Market Report Highlights

The drilling optimization segment will grow rapidly, due to its crucial role in improving operational efficiency and cutting costs.

The software segment accounted for the largest share, owing to the capacity to offer complete solutions for real time data analysis.

North America will grow at a rapid pace, owing to the sophisticated technological infrastructure, and substantial investments in digital innovation in this region.

The global players include ABB Ltd., Accenture plc, Baker Hughes, Cisco Systems, Inc., Emerson Electric Co, General Electric Company, Halliburton.

Polaris Market Research has segmented the digital oilfield market report based on process, solution, application, and region:

Digital Oilfield, Process Outlook (Revenue - USD Billion, 2019 - 2032)

Production Optimization

Reservoir Optimization

Drilling Optimization

Others

Digital Oilfield, Solution Outlook (Revenue - USD Billion, 2019 - 2032)

Services

Software

Hardware

Digital Oilfield, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Onshore

Offshore

Digital Oilfield, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Digital Oilfield Market Insights
4.1. Digital Oilfield Market – Application Snapshot
4.2. Digital Oilfield Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increasing demand for maximizing production from mature oil fields surge the market demand
4.2.1.2. Enhanced data analytics capabilities surge the digital oilfield market demand
4.2.2. Restraints and Challenges
4.2.2.1. Limited accessibility to remote oilfield locations impedes market growth
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Digital Oilfield Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Digital Oilfield Market, by Process
5.1. Key Findings
5.2. Introduction
5.2.1. Global Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
5.3. Production Optimization
5.3.1. Global Digital Oilfield Market, by Production Optimization, by Region, 2019-2032 (USD Billion)
5.4. Reservoir Optimization
5.4.1. Global Digital Oilfield Market, by Reservoir Optimization, by Region, 2019-2032 (USD Billion)
5.5. Drilling Optimization
5.5.1. Global Digital Oilfield Market, by Drilling Optimization, by Region, 2019-2032 (USD Billion)
5.6. Others
5.6.1. Global Digital Oilfield Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Digital Oilfield Market, by Solution
6.1. Key Findings
6.2. Introduction
6.2.1. Global Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
6.3. Services
6.3.1. Global Digital Oilfield Market, by Services, by Region, 2019-2032 (USD Billion)
6.4. Software
6.4.1. Global Digital Oilfield Market, by Software, by Region, 2019-2032 (USD Billion)
6.5. Hardware
6.5.1. Global Digital Oilfield Market, by Hardware, by Region, 2019-2032 (USD Billion)
7. Global Digital Oilfield Market, by Application
7.1. Key Findings
7.2. Introduction
7.2.1. Global Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
7.3. Onshore
7.3.1. Global Digital Oilfield Market, by Onshore, By Region, 2019-2032 (USD Billion)
7.4. Offshore
7.4.1. Global Digital Oilfield Market, by Offshore, By Region, 2019-2032 (USD Billion)
8. Global Digital Oilfield Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Digital Oilfield Market Assessment, By Geography, 2019-2032 (USD Billion)
8.3. Digital Oilfield Market – North America
8.3.1. North America: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.3.2. North America: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.3.3. North America: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.3.4. Digital Oilfield Market – U.S.
8.3.4.1. U.S.: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.3.4.2. U.S.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.3.4.3. U.S.: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.3.5. Digital Oilfield Market – Canada
8.3.5.1. Canada: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.3.5.2. Canada.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.3.5.3. Canada: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4. Digital Oilfield Market – Europe
8.4.1. Europe: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.2. Europe.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.3. Europe: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.4. Digital Oilfield Market – UK
8.4.4.1. UK: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.4.2. UK.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.4.3. UK: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.5. Digital Oilfield Market – France
8.4.5.1. France: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.5.2. France.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.5.3. France: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.6. Digital Oilfield Market – Germany
8.4.6.1. Germany: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.6.2. Germany.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.6.3. Germany: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.7. Digital Oilfield Market – Italy
8.4.7.1. Italy: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.7.2. Italy.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.7.3. Italy: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.8. Digital Oilfield Market – Spain
8.4.8.1. Spain: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.8.2. Spain.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.8.3. Spain: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.9. Digital Oilfield Market – Netherlands
8.4.9.1. Netherlands: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.9.2. Netherlands.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.9.3. Netherlands: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.4.10. Digital Oilfield Market – Russia
8.4.10.1. Russia: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.4.10.2. Russia.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.4.10.3. Russia: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5. Digital Oilfield Market – Asia Pacific
8.5.1. Asia Pacific: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.2. Asia Pacific.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.3. Asia Pacific: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5.4. Digital Oilfield Market – China
8.5.4.1. China: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.4.2. China.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.4.3. China: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5.5. Digital Oilfield Market – India
8.5.5.1. India: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.5.2. India.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.5.3. India: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5.6. Digital Oilfield Market – Malaysia
8.5.6.1. Malaysia: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.6.2. Malaysia.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.6.3. Malaysia: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5.7. Digital Oilfield Market – Japan
8.5.7.1. Japan: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.7.2. Japan.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.7.3. Japan: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5.8. Digital Oilfield Market – Indonesia
8.5.8.1. Indonesia: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.8.2. Indonesia.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.8.3. Indonesia: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.5.9. Digital Oilfield Market – South Korea
8.5.9.1. South Korea: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.5.9.2. South Korea.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.5.9.3. South Korea: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.6. Digital Oilfield Market – Middle East & Africa
8.6.1. Middle East & Africa: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.6.2. Middle East & Africa.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.6.3. Middle East & Africa: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.6.4. Digital Oilfield Market – Saudi Arabia
8.6.4.1. Saudi Arabia: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.6.4.2. Saudi Arabia.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.6.4.3. Saudi Arabia: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.6.5. Digital Oilfield Market – UAE
8.6.5.1. UAE: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.6.5.2. UAE.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.6.5.3. UAE: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.6.6. Digital Oilfield Market – Israel
8.6.6.1. Israel: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.6.6.2. Israel.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.6.6.3. Israel: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.6.7. Digital Oilfield Market – South Africa
8.6.7.1. South Africa: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.6.7.2. South Africa.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.6.7.3. South Africa: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.7. Digital Oilfield Market – Latin America
8.7.1. Latin America: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.7.2. Latin America.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.7.3. Latin America: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.7.4. Digital Oilfield Market – Mexico
8.7.4.1. Mexico: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.7.4.2. Mexico.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.7.4.3. Mexico: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.7.5. Digital Oilfield Market – Brazil
8.7.5.1. Brazil: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.7.5.2. Brazil.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.7.5.3. Brazil: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
8.7.6. Digital Oilfield Market – Argentina
8.7.6.1. Argentina: Digital Oilfield Market, by Process, 2019-2032 (USD Billion)
8.7.6.2. Argentina.: Digital Oilfield Market, by Application, 2019-2032 (USD Billion)
8.7.6.3. Argentina: Digital Oilfield Market, by Solution, 2019-2032 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
10.1. ABB Ltd. (Switzerland)
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. Accenture plc (Ireland)
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. Baker Hughes (USA)
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. Cisco Systems, Inc. (USA)
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Emerson Electric Co. (USA)
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. General Electric Company (USA)
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. Halliburton (USA)
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Honeywell International Inc. (USA)
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. IBM Corporation (USA)
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. National Oilwell Varco (USA)
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11. Rockwell Automation, Inc. (USA)
10.11.1. Company Overview
10.11.2. Financial Performance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. Schlumberger (USA)
10.12.1. Company Overview
10.12.2. Financial Performance
10.12.3. Product Benchmarking
10.12.4. Recent Development
10.13. Siemens AG (Germany)
10.13.1. Company Overview
10.13.2. Financial Performance
10.13.3. Product Benchmarking
10.13.4. Recent Development
10.14. Weatherford International (USA)
10.14.1. Company Overview
10.14.2. Financial Performance
10.14.3. Product Benchmarking
10.14.4. Recent Development
10.15. Yokogawa Electric Corporation (Japan)
10.15.1. Company Overview
10.15.2. Financial Performance
10.15.3. Product Benchmarking
10.15.4. Recent Development

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