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Global Smart Oilfield Market To Expand at a CAGR of 4.1% during 2016-2020

Press Release   •   May 10, 2016 08:11 EDT

About Smart Oilfields

Smart oilfield involves the application of advanced software, hardware, and data analysis techniques to increase the E&P efficiency of oil and gas. In an era of ever-growing energy demand and depletion of easy oil, smart oilfields facilitate in maximizing oilfield recovery by reducing downtime. These oilfields increase the ROI and profitability through effective integration of workflows and design, and by reducing production costs. The workflow includes business process management that utilizes advanced information technologies to streamline or even automate various operations performed across different functional teams.

Technavios analysts forecast the global smart oilfield market to grow at a CAGR of 4.1% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the global smart oilfield market for 2016-2020. The market size has been calculated based on the demand for smart oilfield technologies and services by the oil and gas companies.

The market is divided into the following segments based on geography:


Americas
APAC
EMEA

Technavio's report, Global Thoracic Surgery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors 

Baker Hughes

CNPC
Halliburton
Honeywell International
Schlumberger

Other prominent vendors
 

Accenture

Kongsberg Gruppen

Microseismic
National Oilwell Varco
Paradigm
Pason Systems
Petrolink
Redline Communications Group
Rockwell Automation
Shell
Siemens
Weatherford

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Market driver

Remote onshore and deep and ultra-deepwater offshore explorations
For a full, detailed list, view our report

Market challenge

Resistance to change
For a full, detailed list, view our report

Market trend

Advances in smart oilfield technology
For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?