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Global Digital Oilfield Market Analysis By End User (Oil Industries, Gas Industries, Other Industries)

Global Digital Oilfield Market 2021 - 2028

Global Digital Oilfield Market 2021 - 2028

HYDERABAD, TELANGANA, INDIA, February 1, 2022 /EINPresswire.com/ -- Digital Oilfield Market Forecasts to 2028 – Global Analysis By Process (Production Optimization, Reservoir Optimization, Drilling Optimization), Application (Onshore, Offshore), Technology, End User, and By Geography

The Global Digital Oilfield Market is accounted for $29.65 billion in 2021 and is expected to reach $51.47 billion by 2028 growing at a CAGR of 8.2% during the forecast period. The term digital oilfield alludes to innovation based arrangements that incorporate progressed information investigation and programming frameworks to further develop oil recuperation from the seabed. The product recreates the activity of an oil and gas field by utilizing work processes and prescient investigation dependent on information from wellbores, repositories, and surface offices. This smoothes out the dynamic interaction by using keenly separated information and state of the art innovation. Oilfield digitalization supports the proficient arrangement of both human and machine assets, just as working on the general expense viability of activities. The onshore segment is estimated to have a lucrative growth due to the accessibility of large capacity reservoirs on land in conventional and unconventional reserves. Asia Pacific is projected to hold the largest market share during the forecast period due to the growing production & exploration activities in the region. Europe is projected to have the highest CAGR over the forecast period owing to the increasing new explorations and field development activities.

Some of the key players profiled in the Digital Oilfield Market include ABB, Accenture, Cisco, Emerson, General Electric, Halliburton, Honeywell, Infosys, Intel, Rockwell, Schlumberger, Schneider, Siemens, Weatherford, and Wipro.

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