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August 6, 2020
North America Digital Oilfield Market to get Significant Proceeds by 2026

North America Digital Oilfield Market to get Significant Proceeds by 2026

Fox Thermal

According to the Graphical Research new growth forecast report titled “North America Digital Oilfield Market Share By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, Others), and Technology (IoT, Advanced Analytics, Robotics, Cloud Computing, Mobility, Others) 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}), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026”, to get Significant Proceeds by 2026.

North America’s digital oilfield market share will witness substantial growth on account of growing investments towards developing advanced automated technology for well operations. Ease of data compilation and analysis, with effective wireless technologies, are some of the vital factors favoring technology adoption. In addition, focus on a reduction in capital expenditure and operation downtime will further drive the business outlook over the forecast period.

Effective optimization and improved performance for various monitoring processes will significantly enhance the technology demand in the onshore seabeds. Declining production from conventional systems coupled with the introduction of stringent HSE regulations will further augment the industry growth over the forecast period.

Growing investments towards the development of unconventional hydrocarbon reserves will raise the demand for oilfield analytic services. Growing E&P investments with a focus towards enhancing the production from matured oil wells by the adoption of advanced IoT technologies will further boost the North America digital oilfield market growth.

Government several measures towards the adoption of sustainable drilling and production technologies will boost the demand for automated monitoring services. Moreover, the use of machine learning and artificial intelligence for regulating several parameters including pressure, temperature, flow, etc. to reduce the human error will further escalate the business growth.

Data handling services including Big data and Hadoop enhances analytical operations by analyzing the huge amount of oilfield data. This in turn will stimulate the global digital oilfield services market substantially. Furthermore, the growing requirement of continuous monitoring for the collection and segregation of data will further fuel the technology adoption over the forecast period.

Canada’s digital oilfield market will witness strong growth on account of increasing investments towards the development of various unconventional hydrocarbon resources. Moreover, government focus to enhance the production from deep and ultradeep wellheads will further stimulate the technology adoption over the forecast timeline.

Along with its technological superiority. U.S. market will further develop on account of the abundant availability of tight oil and shale gas. For instance, as per EIA, with the introduction of technologies like hydraulic fracking, it is estimated that U.S. produced 20.95 trillion cubic feet of dry shale gas in 2018, which accounts for 69% of total U.S. dry natural gas production by the U.S. in 2018

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

North America Digital Oilfield Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:

North America Digital Oilfield Market Size, By Process

  • Production Optimization
  • Reservoir Optimization
  • Drilling Optimization
  • Others

North America Digital Oilfield Market Share, By Technology

  • IoT
  • Advanced Analytics
  • Robotics
  • Cloud Computing
  • Mobility
  • Others

North America Digital Oilfield Market Share, By Application

  • Onshore
  • Offshore

North America Digital Oilfield Market Value, 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
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