Burgeoning Adoption of New Technologies in Digital Oilfield Services to Drive Market Growth

The wave of digital transformation in the oil and gas sectors to improve oilfield reservoir surveillance and operational efficiency. The Middle East & Africa Digital Oilfield Service market is anticipated to grow at a considerable rate owing to the factors such as increasing investment in exploration and production activity, burgeoning adoption of new technologies such as such as the Internet of Things (IoT), mobility and cloud computing in digital oilfield services and soaring investment by oil companies in oil exploration and production. Besides these, boost in domestic production of shale gas, rising need to enhance production, and surging adoption of digital oilfield solutions by organisation are strongly contributing to the growth of the market.

Based on Type of Process, Reservoir Optimization accounted for the largest market share on account of surging need for real-time monitoring systems and rise in the production activities which is burgeoning the demands for reservoir optimization to ensure maximum production. Production Optimization acquired the considerable market share due to bolstering productivity, burgeoning integration of DOS with the existing production management application helps in facilitating accurate and reliable analysis by optimization of the production parameters.

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Based on End-Use, Upstream accounted for considerable market share in Digital Oilfield Service market in 2019. The adoption of digital oilfield services in the upstream processes production surveillance, reservoir, and drilling optimization through digital twin well evaluation

The key players with a considerable market share in the Middle East & Africa Digital Oilfield Service market are Anton Oilfield Services (Group) Ltd., Baker Hughes Company, Denholm Oilfield Services, Halliburton Company, Middle East Oilfield Services, Nordic Energy FZC, OiLSERV, Schlumberger Limited, Swire Oilfield Services Ltd., Weatherford International plc etc.