Energy and Mining

Digital Oilfield Market is projected to grow from US$ 26.1 billion in 2020 to US$ 41.5 billion by 2029. Global digital oilfield market is driven by growing exploration and production (E&P) activities across the globe. In addition, growing investment in deep-water and ultra-deep-water exploration projects are expected to propel growth of the global market over the forecast period. Moreover, the target market involves proper usability of cloud computing in oil and gas industries along with improvement in the operational efficiency which is boosting growth of the target market. Investment in big data and analytics is expected to increase in the oil & gas industry over the forecast period. Thus, high adoption of digital oilfield services by companies in the oil & gas industry is anticipated to fuel growth of the global digital oilfield market over the forecast period. Advancements in the global market are resulting in enabling technologies such as low-cost sensors, big dat...