7Newswire
17 Jun 2022, 00:51 GMT+10
NEWARK, Del: The oilfield communications market is expected to grow at a CAGR of 5.4%, from US$ 3.8 Billion in 2022 to USD 6.4 billion by 2032. Increasing investments in network infrastructure, rising demand for oilfield communications from oil and gas operators to scale the production of mature oilfields, and rising technological advancements for communication across oilfields are expected to drive the adoption of the oilfield communications market.
Businesses that provide oilfield communications solutions and services are expected to see a significant drop in oilfield communications market growth due to the COVID-19 pandemic-led global lockdown.
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The pandemic caused oilfield communications companies to face liquidity crises, healthier companies to diversify their businesses, and companies to face a skilled workforce shortage when the oilfield communications market recovers due to layoffs during the lockdown.
Demand for oilfield communications has risen rapidly, and companies are investing heavily in exploring new oil fields, particularly in the Asia Pacific.
The reliable and fast network enables oil and gas companies to discover new remote offshore and onshore oilfields, which may influence the oilfield communications market key trends and opportunities.
The major oil exploration companies that are establishing operations in harsh and remote areas are driving up demand for oilfield communications solutions.
Most of the major oil exploration companies are advancing their technologies in response to the increasing demand for high bandwidth communication.
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COMPETITIVE LANDSCAPE:
New market research report on Oilfield Communications says that Huawei Technologies Co., Ltd., Siemens AG, Speedcast, Weatherford International plc, and Ceragon are among the legacy players vendors.
The research offers a comprehensive competition analysis of these top competitors in the oilfield communications market, including oilfield communications market growth, oilfield communications market share, oilfield communications market adoption trends and important market strategies.
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Key Segments
By Component:
By Communication Network:
By Application:
By Field Site:
By Region:
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Oilfield Communications
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Oilfield Communications Market, by Key Countries
4.2. Oilfield Communications Market Opportunity Assessment (US$ Mn)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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