SAN FRANCISCO, Oct. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Digital Oilfield - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 18801
Companies: 12 - Players covered include ABB Ltd.; Baker Hughes, a GE company; CGG S.A.; Digi International, Inc.; EDG, Inc.; Emerson Electric Co.; Halliburton; Honeywell International, Inc.; Ihs Markit Ltd.; Kongsberg Group; National Oilwell Varco, Inc.; OleumTech; Pason Systems Corp.; Petrolink International Ltd. (Isle of Man); Redline Communications; Rockwell Automation Inc.; Schlumberger Ltd.; Siemens AG; Weatherford International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (On-shore, Off-shore); Process (Production Optimization, Drilling Optimization, Reservoir Optimization, Other Processes); Solution (Hardware, Software & Service, Data Storage)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Global Digital Oilfield Market to Reach $34.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Digital Oilfield estimated at US$25.8 Billion in the year 2020, is projected to reach a revised size of US$34.5 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 5% CAGR and reach US$17 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Service segment is readjusted to a revised 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $6.1 Billion by 2026
The Digital Oilfield market in the U.S. is estimated at US$8.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.1 Billion by the year 2026 trailing a CAGR of 4.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.
Data Storage Segment to Reach US$8.1 Billion by the year 2026
In the global Data Storage segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.9 Billion in the year 2020 will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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