Dig­i­tal oil­field mar­ket ex­pected to sur­pass US$ 30.78Bil­lion by 2020

OffComm News - - THE QUARTERLY -

Grow­ing at a CAGR of 4.31% from 2015 to 2020, the global dig­i­tal oil­field mar­ket is ex­pected to reach US$ 30.78b in about four years time. Pro­duc­tion Op­ti­miza­tion is ex­pected to lead the mar­ket, while Au­to­ma­tion & In­stru­men­ta­tion is ex­pected to reg­is­ter the high­est growth. Europe is ex­pected to be the largest mar­ket due to in­vest­ments and fu­ture plans for dig­i­tal­iz­ing oil fields. The high­est growth fac­tor is ex­pected from the Middle East. This is due to an in­creased fo­cus on op­ti­mis­ing the rate of re­cov­ery in or­der to main­tain the mar­ket share for the re­gion. This in­for­ma­tion comes in a re­port look­ing at in­stru­men­ta­tion & au­to­ma­tion and IT ex­pen­di­ture in a re­port en­ti­tled: "Dig­i­tal Oil­field Mar­ket by Ser­vices by Pro­cesses & by Re­gion - Global Fore­cast to 2020". Iden­ti­fy­ing key play­ers in the dig­i­tal oil­field mar­ket as: Sch­lum­berger Lim­ited, Hal­libur­ton, Na­tional Oil­well Varco, Inc, Weather­ford In­ter­na­tional PLC, Paradigm Lim­ited, Honey­well In­ter­na­tional Inc, and DIGI In­ter­na­tional Inc., for Au­to­ma­tion & In­stru­men­ta­tion the re­port cov­ers: DCS, SCADA, PLC, Smart Well & CPM, IT ser­vices, as well as reser­voir, pro­duc­tion & drilling op­ti­miza­tions. You will find more in­for­ma­tion about this re­port on Of­fComm News’ on­line Re­mote In­tel­li­gence Re­sources page.

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