Oilfield Communications Market Is Estimated To Be 3.18 Billion By 2019
Date: 4/21/2014 The Global Market of Oilfield Communications Is Estimated To Grow From $2.37 Billion in 2014 to $3.18 Billion in 2019, At A CAGR Of 6.1% during the Forecast Period of 2014-2019 Oilfield Communications Market Include Upstream and Midstream Communications, Unified Communications, M2M Communications, Video Conferencing, WiMax, VSAT, Onshore and Offshore Communications The demand for oilfield communications solutions and services has increased significantly over the last decade globally. Complex field operations and data requirements, coupled with highly collaborative work processes, often between multiple onshore and offshore site locations, are increasingly relying on robust communication networks. This communication challenge is compounded by the variety of different operational domains to be supported such as exploration, production, and downstream operations, often situated in challenging terrains around the globe. Oil and gas companies must regularly collect critical data from remote well sites, offshore drilling platforms, and outlying production locations, and from HMI and supervisory control and data acquisition (SCADA) systems set up to monitor facilities, such as storage tanks, pumping stations, or pipelines. With increasing oil demand and the challenge of maintaining higher production volumes from older fields, oil exploration companies are being forced to search for oilfields in more remote and often inhospitable frontier environments which present a range of operational challenges. Due to various operational and human resource challenges, oil exploration companies are increasingly moving toward remote field assessment and management, that is, the digital oilfield, bringing the field to the operator rather than the operator to the field. Data and voice communication is required between the remote locations and head offices to obtain reports on work status, dispatch supplies, repairs, and on-site emergencies and to transfer geophysical data. The operational efficiency of multiple remote onshore and offshore field locations largely depend on a fast and reliable communication network. In order to increase oil production, oil exploration companies are constantly looking for oilfields in remote harsh environments, which even present a range of operational challenges. As major oil exploration companies are setting their operations in remote and harsh fields, the demand for high-bandwidth communication solutions is on the rise. This requirement has tremendously grown over the last several years. Most of the largest oil exploration companies are upgrading the exploration and production processes as well as the downstream processes on oil fields. Oilfield operators are employing more advanced technologies on the rigs; so that they do not need to have as many people on the site. These new applications that allow for remote monitoring require more bandwidth. Sometimes, on a deep-water platform, the drilling companies have to invest up to a million dollars or in excess of that, in additional equipment, to allow for this remote management capability. Very small aperture terminal (VSAT) and fiber-optic communication networks are highly used across the entire value chain of the oil and gas sector for voice and data communication. The emergence of cloud services, video conferencing, and cyber security has increased the burden on fast and reliable communication infrastructure on field site. The concept of digital oilfield hugely relies on robust IT infrastructure and automation and communication network. The digital oilfield demands variables that include reliability, integration, security, scalability, openness, and control. Markets Covered The oilfield communications research report outlines the key trends and market sizing and forecasting for emerging technologies in the oilfield communication sector. The report also emphasizes key global adoption trends, future growth potential submarkets, key drivers, competitive outlook, restraints, opportunities, and oilfield communications market ecosystem. Some of the potential and emerging technologies and solutions for oilfield communication include machine to machine (M2M) communication, unified communication, video conferencing, and WiMAX. The adoption of advanced communication technologies in the entire value chain of oil and gas sector plays a great role in achieving the operational and efficiency targets set by oil and gas companies. Browse The global market of oilfield communications is estimated to grow from $2.37 billion in 2014 to $3.18 billion in 2019, at a compound annual growth rate (CAGR) of 6.1% during the forecast period of 2014-2019. http://www.marketsandmarkets.com/Market-Reports/oilfield-communications-market-247995454.html CONTINUATION:
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