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North America Digital Oilfield Market Size By Application (Onshore, Offshore), By Service (Instrumentation & Automation {Security Systems, Smart Wells, Wireless Systems, Distributed Control System, SCADA}, Information Technology {Software, Computer Equipment & Application Hardware, IT Outsourcing Services, Others}), By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, Others), and Technology (IoT, Advance Analytics, Robotics, Cloud Computing, Mobility, Others) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026
Published Date: January 2020 | Publisher: Graphical Research Report ID: GR1262 | Delivery : PDF  Request Free Sample

North America digital oilfield market value is set to witness significant growth on account of increasing focus toward the adoption of technologically advanced devices and solutions during well operations. Ease of data collection and analysis, improved efficiency, advanced wireless technologies are some of the prominent features favoring the technology adoption. In addition, emphasis on efficient operations and reduction in capital expenditure (CAPEX) will further drive the industry growth over the forecast period.

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Increased performance and effective optimization of various drilling operations will propel the adoption of digital oilfields solutions across the region. Declining production from traditional methods will create a demand for economic well recovery procedures which in turn will further enhance the business outlook.

The demand for remote monitoring equipment and automated operations is set to enhance substantially with the growing production from deep & ultra-deep subsea locations. Several government regulations pertaining to personnel safety as well as stringent environment norms will boost the adoption of sustainable and economical technologies across wellbores.

Increasing E&P investments coupled with shifting focus of oil producers toward subsea hydrocarbon exploration will propel the growth of various oilfield services. For instance, as per the IEA, the regional E&P expenditure stood around USD 128 billion in 2019, which is 9% higher than that of 2018. Growing technological advancements to enhance well production will stimulate the industry growth over the forecast timeframe. Furthermore, increasing investments towards shale gas production will positively influenced the demand for the advanced drilling and production services.

Growing investments to enhance the oil production from mature oilfields is set to drive the digital oilfield market size significantly. Advanced solutions including development planning reservoir characterization, monitoring control along with actuators, sensory devices, and smart alarms are providing better optimization for reservoir development which in turn will fuel the technology demand.

Growing focus toward development of new wellheads across offshore deep-water locations coupled with the increasing penetration of various subsea E&P projects will boost the industry growth in the forthcoming years. As per the IEA 2018 statistics, the deep-water oil production is expected to register 50% growth by 2030 compared to 2018.

Adoption of wireless networks along with improved operational infrastructure will facilitate personnel safety and efficient operations. The rising safety concerns on an oilfield will escalate the growth of the market. Moreover, growing requirement of advanced data collection and interpretation systems with continuous monitoring will further encourage product adoption.

U.S. digital oilfield market is set to grow on account of its technological superiority as well as soaring R&D investment. Abundant availability of shale and tight oil along with growing exports to developing nations will further boost the industry outlook. As per the EIA, in 2018, the U.S. tight oil production was estimated over 6.5 million barrels per day, which is anticipated to expand over 10 million barrels per day by 2030.

Major players in North America include Weatherford, National Oilwell Varco, General Electric, Halliburton, Schlumberger limited, ABB Limited, Schneider Electric, Rockwell Automation, Siemens, Baker Hughes GE, Emerson, Accenture, Infosys Limited, Intel Corporation.

Frequently Asked Question(FAQ) :

North America digital oilfield market is set to witness significant growth on account of increasing focus toward the adoption of technologically advanced devices and solutions during well operations. Ease of data collection and analysis, improved efficiency, advanced wireless technologies are some of the prominent features favoring the technology adoption. In addition, emphasis on efficient operations and reduction in capital expenditure (CAPEX) will further drive the industry growth over the forecast period.
Major players in North America include Weatherford, National Oilwell Varco, General Electric, Halliburton, Schlumberger limited, ABB Limited, Schneider Electric, Rockwell Automation, Siemens, Baker Hughes GE, Emerson, Accenture, Infosys Limited, Intel Corporation.
North America Digital Oilfield Market Size By Application (Onshore, Offshore), By Service (Instrumentation & Automation {Security Systems, Smart Wells, Wireless Systems, Distributed Control System, SCADA}, Information Technology {Software, Computer Equipment & Application Hardware, IT Outsourcing Services, Others}), By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, Others), and Technology (IoT, Advance Analytics, Robotics, Cloud Computing, Mobility, Others) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

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