Published Date: 2021-08-10
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MEA Digital Oilfield Market size is anticipated to witness accelerated growth from 2021 to 2027, according to a latest forecast report by Graphical Research.
Middle East & Africa market growth is on account of increasing emphasis on efficient operational management coupled with adoption of intelligent digital systems and solutions for industrial growth. In addition, advancements in wireless technologies, data analytics, mobility, and collection platforms have facilitated a substantial improvement in the performance and management of O&G platforms across the region.
Escalation in deep and ultra-deep-sea E&P activities along with the development of unconventional advanced drilling techniques will fuel digital industry outlook. In addition, rising O&G drilling operations across deep sea geographies require automated operations and real-time monitoring, which will foster adoption of digital techniques. Moreover, drilling optimization segment across the MEA digital oil field industry will upsurge owing to easy remote monitoring coupled with adoption of efficient drilling data management solutions.
Extensive applications of IoT and cloud-based techniques for data collection from current operations at deep sea drilling sites, smart wells, reservoir monitoring, and simulation will boost the overall business scenario. Major oil & gas companies are integrating cloud computing techniques into their workflows, which will further stimulate the size of the MEA digital oilfield industry. Moreover, the use of Artificial Intelligence (AI) to validate well integrity along with minimal security risks will complement the demand for digital solutions.
Browse detailed statistical insights from the report, “Middle East & Africa Digital Oilfield Market Forecast 2027 By Technology (IoT, Advance Analytics, Robotics, Cloud Computing, Mobility), By Process (Production Optimization, Reservoir Optimization, Drilling Optimization), By Service (Instrumentation & Automation {Security Systems, Smart Wells, Wireless Systems, Distributed Control System, SCADA}, Information Technology {Software, Computer Equipment & Application Hardware, IT Outsourcing Services}), By Application (Onshore, Offshore), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1910/middle-east-africa-digital-oilfield-market
The digital oilfield industry share will witness growth owing to the rising requirements of advanced technologies for management and optimization of the oil & gas operations. In addition, increasing E&P activities coupled with ongoing oil price recovery will foster industry growth. Moreover, declining production rates from conventional wells along with inclination toward developing efficient well recovery process will positively influence the business scenario.
The Kuwait market is anticipated to grow owing to ongoing investments in offshore E&P activities coupled with increasing advancements in drilling technologies. For instance, in 2021, Kuwait Oil Company collaborated with Halliburton to adopt digital technologies for oil Kuwait fields to increase the recovery and production rates. In addition, digital techniques will provide advanced interpretation of field data, which will encourage product adoption.
The pandemic has impacted oil & gas operations across the world. However, it has influenced inclination toward the adoption of digital technology and solutions. The key benefits of digital techniques are cost-efficient processes coupled with field operational efficiency productivity, boosting the product spectrum.
The MEA digital oilfield market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Middle East & Africa Market, By Process
Middle East & Africa Market, By Service
Middle East & Africa Market, By Application
Middle East & Africa Market, By Technology
The above information has been provided for the following countries:
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