NEW YORK, Jan. 19, 2016 /PRNewswire/ -- The global oil and gas demand is on an exponential rise due to rapid globalization and industrial growth. Per capita oil consumption is rising at a brisk pace in the developed economies in the west. The BRICS economies excluding Russia import large quantities of crude oil due to low domestic oil and gas production and huge demand in the country. The exhausting oil and gas reserves have aggravated the oil demands forcing oil companies to look for the new oilfields in various parts of the world.
The oil and gas companies have undertaken exploration drives to discover new oil reserves in order to supply greater production volumes to meet the global demand. These production and operational expansions of the oil and gas industry have led to the discovery of new offshore and shale oil reserves in the regions of South America and Amazon basin. The major concern with oil companies these days is to establish a robust communication network and sustain the harsh conditions and environment in deserts and deep ocean waters. As major oil exploration companies are setting their operations in remote and harsh fields, the demand for high bandwidth communication solutions is on the rise. Due to these growing requirements, most of the largest oil exploration companies are upgrading their exploration and production, and downstream process on the oilfields.
The deployment of advanced oilfield communication technologies and solutions such as VSAT, WiMax, TETRA networks enable oil and gas companies to reduce their overall costs significantly. Various other factors such as increasing demand for offshore oilfield communication solutions, increasing ICT expenditure, and telecom-based technological growth are catalyzing the overall growth of the oilfield communications market globally.
Alcatel-Lucent, Huawei Technologies, Harris CapRock, Inmarsat, and ERF Wireless are some of the prominent players which are providing reliable oilfield communication solutions and services. MarketsandMarkets forecasts the global oilfield communications market to grow from USD 2.6 billion in 2015 to USD 3.7 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period of 2015-2020. Over the next 5 years, this market is expected to experience high traction in North America (NA), and the Middle East and Africa (MEA) regions.
The report forecasts the market sizes and trends of oilfield communication market in the following submarkets:
On the basis of solutions:
Upstream communication solutions
- Operational data communication solutions
- Integrated communication technology solutions
- On-Site network connectivity solutions
Midstream communication solutions
- Pipeline Supervisory Control And Data Acquisition (SCADA)
- Fleet management communication
- Unified communication for pipeline transportation
Downstream Communication Solutions
- Oilfield to Control Centre Data Communication
- Wireless communication for intelligent refineries
On the basis of services:
- Professional services
- Cloud hosting services
- System integration services
On the basis communication network technologies:
- Cellular communication network
- Very Small Aperture Terminal (VSAT) Network [Managed, fixed and mobile VSAT]
- Fiber optic based communication network
- Microwave communication network
- TETRA network
On the basis of field site:
- Onshore communication market
- Offshore communication market
On the basis of regions:
- North America (NA)
- Asia-Pacific (APAC)
- Latin America (LA)
- Middle East and Africa (MEA)
With the given market data, MarketsandMarkets offers customizations as per the Company's specific needs. The following customization options are available for the report:
- Product Analysis: Product Matrix which gives a detailed comparison of product portfolio of each company
- Geographic Analysis: Further breakdown of the oilfield communications market into country wise market
- Company Information: Detailed analysis and profiling of additional market players (Up to 5).
Read the full report: http://www.reportlinker.com/p03169898-summary/view-report.html
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