Future Market Insights has its analysts involved in a report’s comprehensive study, which is on digital oilfield solutions market. With the help of this comprehensive study, analysts revealed that digital oilfield solutions market is anticipated to grow at a CAGR of 6.3% over the assessment period, 2018-2028. In addition, digital oilfield solutions market on a global basis is projected to touch an estimate of approximately US$ 54,415Mn by the end of 2028.
Rapidly increasing need for accessing data in real-time, sound shelf life, convenient operation and installation, as well as zero tolerance band with regards to parameters observation to be monitored has been positively impacting the growth of digital oilfield solutions market across the globe. Apart from this, wide-ranging operations in oil & gas industry have been stimulating the production sales of digital oilfield solutions since the recent past.
Analysts further revealed that launch of effective and innovative digital oilfield solutions can be taken up as a remarkable trend, impacting positively on the growth of digital oilfield solutions market in the coming years. Moreover, analysts have assured that they have been catering to the prevailing as well as growing concerns of industry operators and market observers in the digital oilfield solutions market across the globe.
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What are the recent measures taken up by manufacturers for expansion of digital oilfield solutions market?
Well, so far, manufacturers are entering into strategic collaborations with the technology providers for the purpose of business and customer-base expansion.
Can you mention what is trending in the digital oilfield solutions market?
Well, so far, analysis helped in concluding that there is significant increase in adoption of the LTE, with regards to technological advancements, positively impacting the growth of offshore oil & gas industries. Increasing partnerships amongst the leading companies across oil and gas industry for the purpose of digitally transforming the industry has been supporting the expansion of digital oilfield solutions market.
What are the important factors driving the growth of digital oilfield solutions market?
Well, so far, analysis helped in concluding that rapidly increase requirement for finding out any theft or counterfeiting during downstream and midstream operations is one of the major factor driving the growth of digital oilfield solutions market across the globe. Apart from this, increasing need for eliminating oil spills as well as losses while monitoring inventory levels, internal transfer of the intermediates and explorations is driving the demand and supply of digital oilfield solutions across the globe.
Which countries are the most beneficial for the expansion of digital oilfield solutions market?
The comprehensive study points out that Western Europe is likely to dominate the digital oilfield solutions market on a global basis over the assessment period. Apart from that, North America is expected to create significant growth opportunities for the digital oilfield solutions market in the coming years.
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Which companies are leading in the digital oilfield solutions market?
The comprehensive study points towards Eaton, SIEMENS AG, Emerson Electric Co., Honeywell International, Inc., General Electric, ABB, Schneider Electric and Rockwell Automation, Inc. as the companies leading in the digital oilfield solutions market on a global basis.
Digital Oilfield Solutions Market by Category
Component:
- Hardware
- Software
- Services
Domain:
- Automation solutions
- Instrumentation
End Use:
- Upstream
- Midstream
- Downstream
Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- South East Asia (SEA) & Pacific
- China
- Japan
- Middle East & Africa (MEA)
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