Global Oil and Gas Drilling Automation Market 2018-2022 - Leading Vendors are ABB, Kongsberg Group, Nabors Industries, National Oilwell Varco, Pason Systems & Rockwell Automation

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Sep 11, 2018, 12:45 ET

DUBLIN, Sept 11, 2018 /PRNewswire/ --

The "Global Oil and Gas Drilling Automation Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global oil and gas drilling automation market to grow at a CAGR of 0.67% during the period 2018-2022.

Global Oil and Gas Drilling Automation Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the revenue generated based on the new rig demand, retrofits, and rig utilization rate.

The latest trend gaining momentum in the market is the increasing advances in the automation technology. The adoption of automation has been growing leap and bounds with improvement in technology and communication technology is improving with the advent of advanced tracking solutions and wireless communication.

According to the report, one of the major drivers for this market is the increasing complexity in drilling operations. Even small mistakes in oil and gas exploration projects can cause huge damage to workforce and environment, while incurring huge financial losses. This creates significant opportunity for automation to reduce the room for errors with more accurate data and monitoring capability.

Further, the report states that one of the major factors hindering the growth of this market is the high cost associated with automation. Volatility of crude oil prices is another key factor for the slower adoption of automation in the drilling industry. Such volatile nature of crude oil has eventually made it quite difficult for oil and gas drilling companies to invest in automation, hindering the growth of the market.

Market trends

Growing focus on data analytics in the oil and gas industry
Advances in automation technology
Increasing consolidation in the industry

Key vendors

ABB
Kongsberg Group
Nabors Industries
National Oilwell Varco
Pason Systems
Rockwell Automation

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Market Sizing

Part 06: Five Forces Analysis

Part 07: Market Segmentation By Application

Part 08: Customer Landscape

Part 09: Regional Landscape

Part 10: Decision Framework

Part 11: Drivers And Challenges

Part 12: Market Trends

Part 13: Vendor Landscape

Part 14: Vendor Analysis

Part 15: Appendix

For more information about this report visit

https://www.researchandmarkets.com/research/b5hzj7/global_oil_and?w=5

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SOURCE Research and Markets