Oilfield Communications Market Worth 4.46 Billion USD by 2022
PUNE, India, April 26, 2017 /PRNewswire/ --
According to a new market research report "Oilfield Communications Market by Solution, Communication Network Technology (Cellular Communication, VSAT, Fiber Optic, Microwave, and Tetra Network), Field Site, Service, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size estimated to grow from USD 3.05 Billion in 2017 to USD 4.46 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.9%.
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Browse 66 market data tables and 68 figures spread through 145 pages and in-depth TOC on "Oilfield Communications Market"
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Integration of departments in the oil and gas industry and increasing significance of cyber security are some of the driving factors of the Oilfield Communications Market.
Fleet management communication to play a key role in the Oilfield Communications Market by 2022
The fleet management communication and pipeline Supervisory Control and Data Acquisition (SCADA) segments have the largest market share in the oilfield communications solution market during the forecast period. The market share is expected to grow due to the adoption of advanced communication solutions and increasing investment in cost-effective digital oilfield solutions by the oil and gas industry. M2M communication has the highest market growth rate during the forecast period.
Microwave communication network is expected to have the highest growth rate
Among oilfield communications network technology market, the microwave communication network segment is expected to grow at the highest rate as it provides uninterrupted and secured communication services, whereas VSAT communication network is the second fastest growing market during the forecast period.
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The North American region is expected to contribute the largest market share in the Oilfield Communications Market
North America is expected to hold the largest market share in the Oilfield Communications Market during the forecast period. North America is the pioneer in this market and is expected to grow at a highest rate as it is the largest oil and gas producer with companies seeking advanced digital communication solutions for their onshore and offshore field operations.
Major vendors in the Oilfield Communications Market are Huawei Technologies Co. Ltd (Guangdong, China), Siemens AG (Munich, Germany), SpeedCast International Limited (Hong Kong, China), ABB Ltd. (Zurich, Switzerland), CommScope (North Carolina, US), Inmarsat Plc (London, UK), Tait Communications (Christchurch, New Zealand), Baker Hughes Incorporated (Texas, US), Alcatel-Lucent S.A. ( Boulogne-Billancourt, France), Ceragon Networks Ltd. (New Jersey, US), RAD Data Communications, Inc. (Tel Aviv, Israel), RigNet Incorporated (Texas, US), Hughes Network Systems (Maryland, US), Airspan Networks (Florida, US), and Commtel Networks, Inc, (Mumbai, India).
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