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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