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Sales of Digital Oilfield Solutions to Decelerate in 2020 as COVID 19 Pandemic Takes its Toll on Global Market

In the last couple of years, the oil and gas industry has changed tremendously, with crude oil prices hitting an all-time low, thereby, changing the investments dynamics. The price fluctuations of crude oil is not associated with the origin of its production or consumption. The price tends to move and change in the same direction- at a similar rate. Moreover, new supplies and other disruption like elevated or reduced demand will affect the crude oil prices, globally. However, with increasing energy consumption across the globe, pressures are tightening on the oil and gas industry to cater to the growing demands as extractions become challenging. The word has already lost on shale and traditional gas owing to commercial exploitation. So, how does the oil and gas industry locate new oil fields, considering it is much behind the technology graph owing to manual processes? The glaring answer to this are the time and cost-effective digital oilfields.<br>Time & Cost-Effective Digital Oilfields Solutions is the Glaring Answer<br>Digital Oilfields enable oil and gas companies to maximize oilfield recovery, eliminate lean time and increase profitability and work efficiency through the design and deployment of integrated workflows. With increasing need to collect data, digital oilfields places business process management combined with advanced IT solution in the forefront to streamline and automate tasks performed by cross-functional teams-to improve the oil and gas production. According to a recent market study by Future Market Insights, the sales of global digital oilfield solutions is estimated to stand at a market valuations of US$54,415.5 Mn by 2028, expanding at a significant CAGR of 6.3% over the forecast period of 2018-2028.<br>A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-615<br>MEA region is projected to dominate the global digital oilfield solutions market during the forecast period owing to more oil and gas companies are looking to adopt digital solutions in new installations and capacity expansion. In terms of investments, U.S is projected to present maximum opportunities.<br>Owing to the increasing demand for digital oilfield solutions in the next ten years, prominent manufacturers are likely to focus on collaborating with technology giants to further expand their business footprint, globally. Some Key players in the digital oilfield solutions market are ABB, Emerson Electric, Rockwell Automation, Siemens AG, Schneider Electric, Honeywell International Inc, and General Electric.<br>Offshore LTE, Digital Partnerships, and Smart Oil Fields to Benefit Digital Oilfield Solutions Providers & OnG Companies Alike<br>For operation and maintenance efficiency, oilfields needs full network availability- along with a dedicated radio frequency. The worldu2019s first Offshore Long Term Evolution (LTE) wireless communications solution is enhancing efficiency in the Norwegian North Sea. With u2018integrated operationsu2019 practices, oil and gas companies are able to complete oilfields explorations in 3-4 months, thereby reducing labor cost, with a much higher return on investment by increased production efficiency. High-Tech integrations such as offshore LTE connects the oil field to company offices-by syncing people, processes, and technology coupled with real-time monitoring, analysis, and control. Experts at FMI believe that digital oilfield solutions will be adopted significantly owing these factors.<br>Additionally, digitization partnerships between IT solutions provider and key players in the oil and gas industry is projected to augment the adoption of digital oilfield solutions in the coming years, by reducing operation costs and improving drilling efficiency. Recently, Halliburton and Microsoft collaborated for digitally transforming the oil and gas industry, concentrating on delivering intelligent cloud solutions. Such partnerships would unlock huge potential of digital oilfield solutions for offshore drilling operations. Digital oilfield solutions players are offering end to end products like hardware, software, and services to the oil and gas industry, keeping them in line with the current automation trends, and open up more u2018smart oil fieldsu2019<br>For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-615<br>Table Of Content<br>1. Executive Summary<br> 1.1. Market Overview<br> 1.2. Market Analysis<br> 1.3. FMI Analysis and Recommendations<br> 1.4. Wheel of Fortune<br>2. Market Introduction<br> 2.1. Market Taxonomy<br> 2.2. Market Definition<br>3. Market Background<br> 3.1. Macro-Economic Factors<br> 3.2. Forecast Factors u2013 Relevance & Impact<br> 3.3. Value Chain<br> 3.4. Market Dynamics<br> 3.4.1. Drivers<br> 3.4.2. Restraints<br> 3.4.3. Opportunity Analysis<br>Download Complete TOC Of this Report @ https://www.futuremarketinsights.com/toc/rep-gb-615<br>About Us<br>Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.<br>Contact:<br>Abhishek Budholiya<br>Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,<br>Jumeirah Lakes Towers, Dubai,<br>United Arab Emirates<br>MARKET ACCESS DMCC Initiative<br>For Sales Enquiries: sales@futuremarketinsights.com<br>For Media Enquiries: press@futuremarketinsights.com<br><br>

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Sales of Digital Oilfield Solutions to Decelerate in 2020 as COVID 19 Pandemic Takes its Toll on Global Market

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  1. Digital Oilfield Solutions Market November 2020 Report Id : REP-GB-615 Published On : 2018-08-02 Category : Energy, Mining, Oil, and Gas www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights © 2019 Future Market Insights, All Rights Reserved www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights

  2. About Future Market Insights Future Market Insights (FMI) is a premier provider of syndicated research reports, custom research reports, and consulting services. We deliver a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights,aerial view of the competitiveframework,and future markettrends. We provide research services at a global as well as regional level; key regions include GCC, ASEAN, and BRIC. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology,Healthcare, and Retail. We have a global presence with delivery centers across India specializing in providing global research reports and country research reports. FMI is headquartered out of London, U.K., with a state-of-the-art delivery center located in Pune, India. We combine our knowledge and learning from every corner of the world to distill it to one thing– the perfect solutionfor our client. Research Capabilities Sector Coverage             Customized Research Syndicated Research Investment Research Social Media Research Automotive and Transportation Electronics, Semiconductor, and ICT Retail and Consumer Products Industrial Automation and Equipment Chemicals & Materials Food and Beverages Services and Utilities Energy, Mining, Oil, and Gas Customized Research Subscription Information Syndicated Research For detailed subscription information please contact Hari. T (Sr. Manager - Global Business Development) Investment Research T: +44 (0) 20 7692 8790 | D: +44 20 3287 4268 Email: hari.t@futuremarketinsights.com Social Media Research www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 2 © 2019 Future Market Insights, All Rights Reserved

  3. Research Methodology (1/2) Systematic Research Approach 1 In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. Research & Intelligence Data Collection Data Filter & Analysis Actionable Insights Business Solution Market profiling 2 FMI formulates a detailed discussion guide to conduct expert and industry interviews     Identifying key opinion leaders Questionnaire design In-depth interviews Coverage across value chain Formulating discussion guide 3 A FMI develops a list of industry players (manufacturers), distributors, retailers and industry experts Primary Research       Key industry experts Channel study Developments Market dynamics Products Conclusions Developing list of respondents B 4 FMI conducts interviews with industry experts, industry players, distributors and retailers SOLUTION Desk Research Data collection      Market participants Key strengths Product portfolio Mapping as per value chain Key focus segments C Company Analysis Data is validated by triangulation method, wherein secondary, primary and FMI analysis contribute to the final data 5 Data validation 6 Data is scrutinized using MS-Excel to obtain qualitative and quantitative insights about the industry Data analysis Primary Research# Secondary Research # Paid Publications#           Linkedin Zoominfo Salesforce Avention Company websites Company annual reports White papers Financial reports Factiva GBI Genios Meltwater 7 FMI delivers industry insights and information in the required format (PDF) Insights   # includes sources of databases www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 3 © 2019 Future Market Insights, All Rights Reserved

  4. Digital Oilfield Solutions Market Analysis In the last couple of years, the oil and gas industry has changed tremendously, with crude oil prices hitting an all-time low, thereby, changing the investments dynamics. The price fluctuations of crude oil is not associated with the origin of its production or consumption. The price tends to move and change in the same direction- at a similar rate. Moreover, new supplies and other disruption like elevated or reduced demand will affect the crude oil prices, globally. However, with increasing energy consumption across the globe, pressures are tightening on the oil and gas industry to cater to the growing demands as extractions become challenging. The word has already lost on shale and traditional gas owing to commercial exploitation. So, how does the oil and gas industry locate new oil fields, considering it is much behind the technology graph owing to manual processes? The glaring answer to this are the time and cost-effective digital oilfields. Time & Cost-Effective Digital Oilfields Solutions is the Glaring Answer Digital Oilfields enable oil and gas companies to maximize oilfield recovery, eliminate lean time and increase profitability and work efficiency through the design and deployment of integrated workflows. With increasing need to collect data, digital oilfields places business process management combined with advanced IT solution in the forefront to streamline and automate tasks performed by cross-functional teams-to improve the oil and gas production. According to a recent market study by Future Market Insights, the sales of global digital oilfield solutions is estimated to stand at a market valuations of US$54,415.5 Mn by 2028, expanding at a significant CAGR of 6.3% over the forecast period of 2018-2028. www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 4 © 2019 Future Market Insights, All Rights Reserved

  5. Digital Oilfield Solutions Market Analysis A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb- 615 MEA region is projected to dominate the global digital oilfield solutions market during the forecast period owing to more oil and gas companies are looking to adopt digital solutions in new installations and capacity expansion. In terms of investments, U.S is projected to present maximum opportunities. Owing to the increasing demand for digital oilfield solutions in the next ten years, prominent manufacturers are likely to focus on collaborating with technology giants to further expand their business footprint, globally. Some Key players in the digital oilfield solutions market are ABB, Emerson Electric, Rockwell Automation, Siemens AG, Schneider Electric, Honeywell International Inc, and General Electric. Offshore LTE, Digital Partnerships, and Smart Oil Fields to Benefit Digital Oilfield Solutions Providers & OnG Companies Alike For operation and maintenance efficiency, oilfields needs full network availability- along with a dedicated radio frequency. The world’s first Offshore Long Term Evolution (LTE) wireless communications solution is enhancing efficiency in the Norwegian North Sea. www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 5 © 2019 Future Market Insights, All Rights Reserved

  6. Digital Oilfield Solutions Market Analysis With ‘integrated operations’ practices, oil and gas companies are able to complete oilfields explorations in 3-4 months, thereby reducing labor cost, with a much higher return on investment by increased production efficiency. High-Tech integrations such as offshore LTE connects the oil field to company offices-by syncing people, processes, and technology coupled with real-time monitoring, analysis, and control. Experts at FMI believe that digital oilfield solutions will be adopted significantly owing these factors. Additionally, digitization partnerships between IT solutions provider and key players in the oil and gas industry is projected to augment the adoption of digital oilfield solutions in the coming years, by reducing operation costs and improving drilling efficiency. Recently, Halliburton and Microsoft collaborated for digitally transforming the oil and gas industry, concentrating on delivering intelligent cloud solutions. Such partnerships would unlock huge potential of digital oilfield solutions for offshore drilling operations. Digital oilfield solutions players are offering end to end products like hardware, software, and services to the oil and gas industry, keeping them in line with the current automation trends, and open up more ‘smart oil fields’ For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep- gb-615 www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 6 © 2019 Future Market Insights, All Rights Reserved

  7. Digital Oilfield Solutions Market Analysis Table Of Content 1. Executive Summary 1.1. Market Overview 1.2. Market Analysis 1.3. FMI Analysis and Recommendations 1.4. Wheel of Fortune 2. Market Introduction 2.1. Market Taxonomy 2.2. Market Definition 3. Market Background 3.1. Macro-Economic Factors 3.2. Forecast Factors – Relevance & Impact www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 7 © 2019 Future Market Insights, All Rights Reserved

  8. Digital Oilfield Solutions Market Analysis 3.3. Value Chain 3.4. Market Dynamics 3.4.1. Drivers 3.4.2. Restraints 3.4.3. Opportunity Analysis Download Complete TOC Of this Report @ https://www.futuremarketinsights.com/toc/rep-gb-615 www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 8 © 2019 Future Market Insights, All Rights Reserved

  9. Digital Oilfield Solutions Market Analysis About Us Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends. Click here to Order a free sample For more insights on the Digital Oilfield Solutions Market, you can request a report sample with full TOC www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 9 © 2019 Future Market Insights, All Rights Reserved

  10. To know more about us, please visit our website: www.futuremarketinsights.com For sales queries or new topics email us on: sales@futuremarketinsights.com For media queries, contact the press office at press@futuremarketinsights.com For other queries contact: Hari. T (Sr. Manager - Global Business Development) Future Market Insights: 3rd Floor, 207 Regent Street, London W1B 3HH T: +44 20 7692 8790 | D: +44 20 3287 4268 Email: hari.t@futuremarketinsights.com Future Market Insights Global & Consulting Private Limited (FMI) Thank You www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 10 © 2019 Future Market Insights, All Rights Reserved

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