The global oilfield communications market is anticipated to grow at a considerable pace over the forecast period. Globally the demand for oil & gas has increased rapidly, and companies are continuously investing in the exploration of new oil fields particularly in Asia Pacific. Communication plays a vital part in this process while the reliable and fast network empowers oil & gas companies to discover new remote offshore and onshore oilfields.
The companies are always searching for new oil fields in harsh and remote environments, to meet the increased demand for oil & gas globally. These conditions present a broad range of operational challenges that can be overcome by the oilfield communications solutions. These solutions need higher bandwidths, particularly for the offshore oilfields. The deployment of advanced oilfield communication solutions empowers oil & gas companies to decrease cost significantly which is expected to fuel market growth over the next seven years.
The primary concern faced by oil & gas companies is the establishment of a robust communication network and to withstand harsh conditions and environment in deep ocean waters and deserts. Rising demand for high bandwidth communication solutions is due to the major oil exploration companies which are setting up their operations in harsh and remote areas. Due to the increasing requirements of high bandwidth communication, most of the major oil exploration companies are advancing their exploration and production, and downstream process on the oilfields which in turn will propel industry growth over the next seven years.
The industry’s inclination and efforts to enhance upstream asset is one of the major drivers for the global oilfield communications market. Additionally, the retrieval in crude oil price after recent dropping is also expected to drive investments in the market. Moreover, given the perilous nature of the oil & gas industry, the anxieties over the safety of human resource as well as on environment are increasing on account of the mishaps over the past few years in the industry. Growing E&P activities in regions such as Eastern Siberian, where extreme weather circumstances possess a challenge to work, is also anticipated to contribute towards the global oilfield communication market growth over the forecast period.
The purpose of oilfield communications is to maximize recovery, eradicate non-productive time, and raise profitability through the plan and deployment of combined workflows. Oilfield Communications workflows syndicate business process management with engineering expertise and advanced information technology to streamline and, in several cases, computerize the accomplishment of tasks executed by cross-functional teams.
Though the oilfield communications market is inclining towards the maturity stage, it is still growing at a moderate pace with the discovery of new offshore oilfields in the Middle East & Africa and South America. The Middle East is anticipated to show the fastest growth over the forecast period. Middle East market which has manufacturing costs far beneath the present prevailing oil prices has been highly investing in the digital oilfield market to increase their crude recovery rate. As per rig counts issued by Baker Hughes Inc. the U.S. rig count dropped to 848 in September 2015 from 1,930 in September 2014 thus negatively impacting the country's oil & gas industry. However, several mature oilfields are projected to be digitalized to stabilize this impact. Regions such as North America and Asia Pacific are hugely investing in R&D activities.
According to the International Energy Agency, in 2017, the U.S. is expected to overtake Saudi Arabia to become world’s largest producer of crude oil. The firms in the region are already using high bandwidth connection to enhance their oil production, and this trend is expected to continue over the next seven years.
Geographically the global market for oilfield communication is segmented into North America, Latin America, Asia-Pacific, Middle East & Africa, and Europe. North America established the oilfield communications market with widespread implications across its gas & oil industry. MEA and North America both are growing at a moderate rate; however, Asia Pacific and Europe are observing incremental growth and are considerably showcasing an increase in the implementation of oilfield communications technology which is expected to impact industry growth over the next seven years positively.
Key players dominating the global industry for oilfield communication include Huawei Technologies, Alcatel-Lucent, Harris CapRock, ERF Wireless, RigNet, and Hermes Data Communication. RigNet is a solution provider of reliable, cost-effective, and robust communication services for the energy industry; it delivers a vast portfolio of data, voice, and value-added services to remote locations globally. They employ the latest technologies to provide a plug-and-play solution for voice, video and broadband data, and communications to ensure superior reliability, scalability, security, and quality.
Companies in the oil & gas industry use video conferencing to save time and costs. As an alternative to traditional meetings and excessive travel, video conferencing improves teamwork and speeds up decision-making. RigNet provides the benefits of video conferencing to companies of all sizes. Whether they need a few video conferences per year or several every day globally, RigNet has a program that meets every client requirements.
Few of the emerging and potential solutions and technologies for oilfield communications include unified communication, WiMax, video conferencing, and M2M communication.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."