Digital Oilfield Market 2021-2025: ABB Ltd., Emerson Electric Co. and General Electric Co. Emerge as Dominant Players | Technavio

NEW YORK, Aug. 23, 2021 /PRNewswire/ — The «digital oilfield market segmented by Technology (Software, Services, and Hardware) and Geography (MEA,…

NEW YORK, Aug. 23, 2021 /PRNewswire/ — The «digital oilfield market segmented by Technology (Software, Services, and Hardware) and Geography (MEA, North America, Europe, APAC, and South America) – Forecast and Analysis 2021-2025″ has been added to Technavio’s offering. Do you know the digital oilfield market size is expected to reach a value of $ 5.00 bn during 2021-2025?

Find extensive research with data synthesis and validation on Digital Oilfield Market report. Download Sample Now!

The pandemic-focused report highlights the impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior during 2020. Technavio analysts have curated the reports extensively through both qualitative and quantitative research methodologies to derive the most industry-relevant and business-relevant outcomes.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

The recovery process involves various phases including:-

  • Recognizing the existing business model
  • Identifying potential disruptions
  • Assessing Impact on Critical IT infrastructure and Software System

Retrieve Actionable Data Points to Make Critical Business Decisions 

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

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Corresponding Reports:

Sliding Sleeves Market by Application and Geography – Forecast and Analysis 2020-2024

Oilfield Rotary Table Market by Application and Geography- Forecast and Analysis 2021-2025

Emerging Opportunities with Key players

ABB Ltd.

The company operates in key business segments including Electrification, Industrial Automation, Motion, Robotics and Discrete Automation, and Corporate and Other. The company offers advanced digital oilfield solutions such as ABB Ability.

Emerson Electric Co.

Emerson Electric Co. functions in key operating segments including Automation Solutions and Commercial and Residential Solutions. The company offers end to end digital oilfield solutions, which helps to enhance operations and optimize production.

General Electric Co.

The company operates in key business segments including power, renewable energy, aviation, healthcare, and capital segment. The company offers premium digital oilfield solutions such as Asset Performance Management.

Get a report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown:

Digital Oilfield Market 2021-2025: Segmentation

Digital oilfield market is segmented as below:

  • Technology
    • Software
    • Services
    • Hardware
  • Geography
    • MEA
    • North America
    • Europe
    • APAC
    • South America

The digital oilfield market is driven by rising rig count, drilling activities in remote areas, and increasing complexities of refineries. In addition, other factors such as increasing applications of digital oilfields, the advent of big data analytics, and 4D seismic survey technology are expected to trigger the digital oilfield market toward witnessing a CAGR of over 3% during the forecast period.

Get Actionable Insights on each Contributing Segments. Download Free Sample Report:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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