Digital Oilfield Market: 2019 Global Industry Trends, Growth, Share, Size and 2026 Forecast Research Report

      Steadily climbing global energy demands will fuel the global digital oilfield market growth during the forecast period. According to the International Energy Agency’s Global Energy and CO2 Status Report, in 2018, worldwide demand for energy grew by 2.3%, with fossil fuels meeting 70% of the energy demand. Moreover, with the world population projected to hit 9.8 billion by 2050, as per UN estimates, the demand for energy will witness an exponential rise in the near future. This is expected to result in a substantial increase in demand for digital oilfield services owing to their multiple advantages such as better efficiency, high rate of return on investment informed decision-making and improved productivity. Consequently, the global digital oilfield market size will broaden until 2026.

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     Top Players

·         Emerson

·         Schlumberger

·         IBM

·         National Oilwell Varco

·         Kongsberg Gruppen

·         Weatherford

·         Siemens

·         Halliburton

·         Petrolink

·         Honeywell International Inc.

·         Infosys

Key Market Driver – Focus on increasing exploration efficiency

Key Market Restraint –  Volatility in crude oil prices and growing demand for alternative sources of energy

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