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?
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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
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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Emerging Opportunities with Key players
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:
- North America
- 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: https://www.technavio.com/talk-to-us?report=IRTNTR43923
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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