Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global SMART OILFIELD market. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2018, and key prospects over the forecast period 2018 – 2028.
Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the SMART OILFIELD market, both at global and regional levels. The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the SMART OILFIELD market.
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After reading the SMART OILFIELD market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the SMART OILFIELD market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period
- Technologies and business models with disruptive potential
The SMART OILFIELD market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The evaluation of the competitive landscape in the SMART OILFIELD market covers the profile of the following top players:
Halliburton, China National Petroleum Corporation (CNPC), Baker Hughes, Honeywell International and Schlumberger are some of the key players of the smart oilfield market. Some other prominent players of the smart oilfield market are Kongsberg Gruppen, Microseismic, National Oilwell Varco, Paradigm, Petrolink, Redline Communications Group, Rockwell Automation, Shell, Siemens, Weatherford and many more.
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Smart Oilfield Market – Market Dynamics
Oil and gas companies have been investing heavily in digital technologies after the 2014 price crash to cut costs. Through the smart oilfield technology, oil supermajors can eke out the last drop of profit from every oil barrel that they sell, which is particularly vital as the region has finite reserves. The transition to smart oilfield may require a huge amount of money but due to effective integration of design and workflow, the ROI and profitability will increase by reducing the production cost. As a consequence, this is anticipated to auger well for the growth of the global smart oilfield market.
Increasing use of wireless technology and pervasive ethernet in smart oilfield may raise concerns regarding reliability and cyber intrusion. Connectivity and networking in a smart oilfield could save thousands of dollars in operating cost reduction but no network is completely secure. But the use of the less reliable simple serial network in a smart oilfield may hinder the growth of the market. On the other hand, the weak digital infrastructure in emerging economies could also be responsible for the slow growth of smart oilfield market in some regions.
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The global SMART OILFIELD market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.
Some important questions that the SMART OILFIELD market report tries to answer exhaustively are:
- Key strategic moves by various players in the SMART OILFIELD market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares.
- Which strategies will enable top players in the SMART OILFIELD market to expand their geographic footprints?
- Which new business models are expected to change the course of growth of key regional markets in near future?
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants?
- Which products segments have in recent years have seen new, lucrative application areas?
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