Digital Oilfield Market by Competitive Landscape and Demand 2020 to 2030
Digital Oilfield Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 – 2030 - Gradual technological advancements along with the transition of the oil and gas sector towards digitalization to achieve efficiency and cost effectiveness are major factors driving the digital oilfield market. The Global Digital Oilfield Market was valued at USD 23.97 billion in 2019 and is predicted to reach USD 38.90 billion by 2030 with a CAGR of 4.5% during the forecast period. Digital oilfields employ advanced software and various data analysis techniques to achieve better output and thereby improving the profitability of the production process. Digital oilfields offer a number of advantages such as ease in finding and exploiting reserves, improved workplace safety, and reduced environmental impact. However, increased number of cyber-attacks and data security concerns are expected to inhibit the growth of digital oilfield market. Access Full Descriptio