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Global Smart Oilfield Market 2016-2020

About Smart Oilfields

Smart oilfield involves the application of advanced software, hardware, and data analysis techniques to increase the E&P efficiency of oil and gas. In an era of ever-growing energy demand and depletion of “easy oil,” smart oilfields facilitate in maximizing oilfield recovery by reducing downtime. These oilfields increase the ROI and profitability through effective integration of workflows and design, and by reducing production costs. The workflow includes business process management that utilizes advanced information technologies to streamline or even automate various operations performed across different functional teams.

Technavio’s analysts forecast the global smart oilfield market to grow at a CAGR of 4.1% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global smart oilfield market for 2016-2020. The market size has been calculated based on the demand for smart oilfield technologies and services by the oil and gas companies.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Thoracic Surgery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Baker Hughes
  • CNPC
  • Halliburton
  • Honeywell International
  • Schlumberger
Other prominent vendors
  • Accenture
  • Kongsberg Gruppen
  • Microseismic
  • National Oilwell Varco
  • Paradigm
  • Pason Systems
  • Petrolink
  • Redline Communications Group
  • Rockwell Automation
  • Shell
  • Siemens
  • Weatherford
Market driver
  • Remote onshore and deep and ultra-deepwater offshore explorations
  • For a full, detailed list, view our report
Market challenge
  • Resistance to change
  • For a full, detailed list, view our report
Market trend
  • Advances in smart oilfield technology
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Smart Oilfield Market 2016-2020

Technavio recognizes the following companies as the key players in the global smart oilfield market: Baker Hughes, China National Petroleum Corporation (CNPC), Halliburton Corporation, Honeywell International, and Schlumberger Ltd.

Other Prominent Vendors in the market are: Accenture, Kongsberg Gruppen, Microseismic, National Oilwell Varco, Paradigm, Pason Systems, Petrolink, Redline Communications Group, Rockwell Automation, Shell, Siemens, and Weatherford.

Commenting on the report, an analyst from Technavio’s team said: “The demand for oil and gas and the growing number of maturing oilfields have resulted in increased adoption of smart oilfield technology. The advances in smart oilfield technologies will help enhance production rates, redevelop existing oilfield wells, facilitate production from unconventional resources, such as shale formation and tight oil, and improve well management. Intelligent well completion will significantly increase the efficiency, control, and monitoring of wells.”

According to the report, a key market driver is the aggressive remote onshore and deep and ultra-deepwater offshore exploration. The growing global demand for oil and gas and low production output from the world's mature oilfields are making the oil and gas companies aggressively explore remote regions such as deepwater and ultra-deepwater reserves, unconventional shale deposits, and tar sands. These exploration projects are technically complex, capital-intensive, and involve safety hazards.

Further, the report states that resistance to change will be a major challenge to the growth of the smart oilfield market worldwide.





Companies Mentioned

Baker Hughes, China National Petroleum Corporation (CNPC), Halliburton Corporation, Honeywell International, Schlumberger Ltd, Accenture, Kongsberg Gruppen, Microseismic, National Oilwell Varco, Paradigm, Pason Systems, Petrolink, Redline Communications Group, Rockwell Automation, Shell, Siemens, Weatherford.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Key countries in each region
    • Top-vendor offerings
      • Table Product and service offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Evolution of smart oilfield technology
      • Table Overview of smart oilfield technologies
      • Table Smart oilfield processes and implementation
      • Table Implementation path of smart oilfield technologies
      • Table Economic benefits of smart oilfield
      • Table Economic benefits of smart oilfield technologies in terms of progression steps
      • Table Evolution of smart oilfield
      • Table Venture investment trend in smart oilfields 2009-2014 ($ millions)
      • Table Investment areas of focus in smart oilfield technologies
      • Table Keys areas for smart oilfield technology implementation
      • Table Factors affecting implementation of smart oilfield technologies
  • Market landscape
    • Market overview
      • Table Overview of global smart oilfield market
    • Market size and forecast
      • Table Global smart oilfield market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation and services
    • Global smart oilfield market by technology and services
      • Table Overview: Segmentation by technology and services
      • Table Global smart oilfield market by technology and services 2015
      • Table Global smart oilfield market by technology and services 2020
    • Global smart oilfield market by services
      • Table Global smart oilfield market by services 2015-2020 ($ billions)
    • Global smart oilfield market by hardware technologies
      • Table Global smart oilfield market by hardware technologies 2015-2020 ($ billions)
    • Global smart oilfield market by software technologies
      • Table Global smart oilfield market by software technologies 2015-2020 ($ billions)
  • Geographical Segmentation
    • Global smart oilfield market by geographical segmentation
      • Table Global smart oilfield market by geographical segmentation 2015
      • Table Global smart oilfield market by geographical segmentation 2020
    • Smart oilfield market in the Americas
      • Table Smart oilfield market in the Americas 2015-2020 ($ billions)
    • Smart oilfield market in EMEA
      • Table Smart oilfield market in EMEA 2015-2020 ($ billions)
    • Smart oilfield market in APAC
      • Table Smart oilfield market in APAC 2015-2020 ($ billions)
  • Key leading countries
    • Table Key leading countries
    • US
      • Table Smart oilfield market in the US 2015-2020 ($ billions)
    • China
      • Table Smart oilfield market in China 2015-2020 ($ billions)
  • Market drivers
    • Reduction in production costs
    • Increase in patent filing
      • Table Top seven corporations in terms of R&D investment and patent filing
    • Low oil prices
      • Table Oil prices per barrel from January 2011 to January 2016 (WTI)
    • Remote onshore and deep and ultra-deepwater offshore explorations
    • Need for fast and easy data access
    • Enhanced business productivity
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Cyber security concerns
    • Integration of smart oilfield systems with existing application systems
    • Resistance to change
    • Uncertainties about benefits of smart oilfield technologies
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Advances in smart oilfield technology
    • Growing use of big data analytics, IoT, and robotics
    • Workforce, data, and asset security
    • Increased use of mobile devices
  • Vendor landscape
    • Competitive scenario
      • Table Top three market vendors and their competitive advantages
      • Table Geographical presence of key vendors
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Baker Hughes
    • CNPC
    • Halliburton
    • Honeywell International
    • Schlumberger
  • Appendix
    • List of abbreviations
  • Explore Technavio

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