United States Digital Oilfield Market Industry Report 2024-2028: Real time Field Management Oilfield Analysis
The United States Digital Oilfield Market is driven by the rising demand for oil & gas and rapid technological advancements during the 2024-2028 forecast period.
TechSci Research's report, "United
States Digital Oilfield Market - By Region, Competition Forecast &
Opportunities, 2028," anticipates steady growth driven by increased
upstream oil and gas investments, rising demand, and a focus on unconventional
exploration and production activities.
Digital oilfield technology
integrates information, people, and processes to optimize asset performance and
value throughout the production lifecycle. It streamlines workflows, enhances
manufacturing, and boosts productivity by connecting all plant operations data
and procedures. In the Permian basin, which boasts 344 operating rigs as of
August 2022, and Eagle Ford basin with 63 rigs, Texas leads in oil rig
locations, driving market growth.
Digital oilfields enhance
oilfield operations by integrating, analyzing, and manipulating real-time
production data. They rely on vast amounts of data from sources like seismic
surveys and production systems, requiring devices with networked intelligence
and robust network and cloud infrastructure. Real-time controls, distributed
analytics, and automated workflows help companies reduce costs, improve asset
performance, and optimize production, meeting environmental demands and fueling
demand for the United States Digital Oilfield Market.
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The United States Digital Oilfield Market is categorized by process,
technology, region, and competition. Process segments include drilling,
production, reservoir optimization, and others. Reservoir optimization is
expected to lead during 2024-2028, involving data processing from various
surveys and drilling activities. Big data analytics aid in data analysis,
enhancing productivity and decision-making while reducing uncertainty and
process time, thus impacting field life and saving operating costs.
In terms of technology, the
market includes internet of things, artificial intelligence, cloud computing,
and others. Regionally, the United States is divided into West, Midwest,
Northeast, and South.
The expansion of
unconventional oil and gas activities has boosted oil and gas transport
capabilities, increasing daily transport capacity for natural gas, petrol, and
oil by 3.0 to 5.0 million barrels.
Major companies operating in the United States Digital
Oilfield Market are:
- Schlumberger
- Halliburton
- Weatherford International Inc
- Digi International
- Microsoft
- Baker Hughes
- Rockwell Automation
- Honeywell Process Solution
- Emerson
- National Oilwell Varco.
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"Digitalization in the oil & gas industry streamlines operations and
cuts costs effectively. Reservoir Optimization is poised to lead the market,
analyzing data from various surveys and drilling processes," noted Karan
Chechi, Research Director at TechSci Research.
"The report 'United
States Digital Oilfield Market By Process, Technology, Region, Competition
Forecast and Opportunities, 2018-2028' assesses the future growth
potential, providing insights on size, structure, and trends. It aims to offer
advanced market intelligence for informed investment decisions, identifying
emerging trends, drivers, challenges, and opportunities in the United States
Digital Oilfield Market."
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