Oilfield Communications Market (2018 – 2023) research report provides List of manufacturers, regional analysis, segmentation by type & applications and the actual process of whole Oilfield Communications industry. Oilfield Communications Market report delivers a detailed study of present and upcoming Opportunities to clarify future investment in the market.
“Oilfield Communications Market report is expected to register a CAGR of 6.72% over a five years forecast period.”
List of Major Key players operating in the Global Oilfield Communications Market are –
- Huawei Technologies Co. Ltd
- Siemens AG
- Speedcast International Limited
- ABB Ltd
- Inmarsat PLC
- Tait Communications
- Baker Hughes Incorporated
- Alcatel-Lucent S.A.
- Ceragon Networks Ltd
- Rad Data Communications
- Hughes Network Systems LLC
- Airspan Networks
- Commtel Networks Pvt. Ltd
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The global oilfield communications market was valued at USD 2.85 billion in 2017, and is expected to reach USD 4.21 billion by 2023 at a CAGR of 6.72% over the forecast period (2018-2023). The market is segmented by solution into M2M communication, asset performance communication, unified communication, VoIP, video conferencing, pipeline scada, fleet management communication, oilfield to control center data communication, and Wi-Fi hotspot type of solutions. The market is also segmented by communication network, field site, and region.
Growing Adoption of Cloud-based Services is the Major Driver for the Market
With growing adoption of cloud-based services, oil companies are compelled to use oil field communication. This keeps their offshore sites connected with the inshore site about production stats, which helps in better supply chain management. The smooth flow of materials is very important for oil companies as their profitability is highly dependent upon the turnover and downtime needs to be avoided.
Microwave Communication Network is expected to Grow Fastest in the Forecast Period
Microwave transmission equipment can be used for various communication applications such as cellular, radio telecommunication, broadband, satellite, radar, and navigation. The reducing profit margins from mobile networks have induced mobile network operators (MNOs) to focus more on generating their revenue from data rather than voice to increase their profitability. There is an increasing demand for data, and this will compel MNOs to upgrade their infrastructure. Upgrading the transport network includes cost of equipment and services and requires at least 30% of the overall project cost. This high cost is mainly due to the high price of equipment for the optical transport-based network. Whereas, deploying a microwave network costs less than the deployment of the fiber network. Microwave deployment allows fast go-to-market reach and has a much lesser footprint than the fiber network.
North America is Expected to Hold the Largest Market Share in the Oilfield Communications Market During the Forecast Period
North America is the pioneer in this market and is expected to grow at a highest rate as it is the largest oil and gas producer, with companies seeking advanced digital communication solutions for their onshore and offshore field operations. Many oil producing companies are headquartered in the United States. Most of the companies pilot new services in the country before global launches and deployment. Fast adoption of new technology in this country and growing focus on global communication is pushing the market forward.
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Global Oilfield Communications Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2018-2023):
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
- Asia Pacific (China, Japan, India, Southeast Asia and Australia)
- Latin America (Brazil, Argentina and Colombia)
- The Middle East and Africa
Key Questions Answered About Oilfield Communications Market:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the Oilfield Communications market for selective countries?
- Which region or sub-segment is selected is expected to drive the market in the forecast period?
- What factors are estimated to drive and restrain the market growth?
- What are the key technological and Oilfield Communications market trends shaping the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
Reasons to Purchase Oilfield Communications Market Report:
- The report analyses how stringent emission control norms will drive the global Oilfield Communications market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Oilfield Communications market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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Oilfield Communications Market Report TOC Includes:
- Introduction of Oilfield Communications Market
- Research Approach and Methodology
- Oilfield Communications Market Overview
- Oilfield Communications Market Segmentation
- Competitive Landscape
- Company Profiles
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