The oilfield communications market is experiencing high growth in the forecast period. The growth of the market for an oilfield communications solution is highly influenced by the growth in number of oil & gas offshore projects. The oil and gas industry is accelerating rapidly in terms of technology adoption as well as better user expectations for reliable, high-performance connectivity. The network users working at offshore/onshore expect fast and uninterrupted internet connectivity across the area. Although IoT is not new to the oil & gas industry, the firms associated with the energy sector are always looking for new techniques to increase efficiency and create competitive advantages through automation and real-time data analysis. Satellite communications technology is highly available, providing coverage ubiquitously. The growth is due to the need for cyber security in the oil & gas industry. Growing demand for cost-effective solutions in the oil and gas industry provides ample of opportunities for the market growth. Oilfield communications require a consistent and competent wireless network that is able to function over long distances and under harsh weather conditions. Oilfield communication networks and technologies supply lightning broadband speeds, thereby sustaining several applications that ultimately develop the operational efficiency and safety of the oilfield operations in a cost-effective manner.
The oilfield communications market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. The APAC region is expected to be the fastest growing region in the coming years, with the support of government in funding in these countries, the market for oilfield communication in APAC is progressing. On continuous basis, the oil & gas industry of Asia is growing driven by rising demand and investment activities which makes the region to observe high number of oil & gas projects. Exploration of unconventional oil & gas reservoirs in remote waters is gaining huge attraction of oil & gas industries. Asia-Pacific is an increasingly competitive market globally in technology and investments. Southeast Asia is witnessing an increasing number of oil & gas projects. Moreover, the countries of Asia Pacific is witnessing ample of investments and projects which would help both oil & gas and oilfield services to nurture in future.
Whereas, North America followed by Asia Pacific and Middle East holds a highest market share in the oilfield communications market. Oilfield communications market is expected to experience significant growth in the coming years due to a rise in the conceptualization of digital and connected oilfield. The digital oilfields are integrating the sensor technologies with cloud Big Data analytics and other advanced technologies for reducing unexpected downtime, increased asset optimization, and increasing operational efficiency. The oil & gas companies are increasingly deploying high-performance IP networks in the oilfields globally.
The oilfield communications market by solution is segmented into upstream communication solutions, midstream communication solutions, and downstream communication solutions. The upstream communication solutions holds a major share in the market and is expected to continue its dominance in the forecast period as well. Within oil industry, upstream includes exploration & production. Upstream oil exploration, production, and operations includes identifying oil deposits, drill wells, and resource raw materials from offshore and onshore sites. The upstream level is also known as the exploration and production (E&P) sector. In addition to exploration and production, this level also includes related services such as rig operations, machinery rental, and feasibility studies among others.
The major players operating in the market for oilfield communications market include ABB Ltd., Airspan Networks Inc., Baker Huges Incorporated, Ceragon Networks Ltd., Commscope Holding Company, Inc., Commtel Networks Pvt. Ltd., Huawei Technologies Co. Ltd., Hughes Network Systems LLC, Inmarsat plc, Rad Data Communications, RigNet, Inc., Speedcast International Limited, Tait Communications, Nokia Corporation (Alcatel-Lucent), and Siemens AG among others.
The report segments the global oilfield communications market as follows:
Services Covered
Communication Network Technologies Covered
Field Site Covered
Solution Covered
Regions Covered
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@reportsweb.com