Digital Oilfield Global Market Report 2025

A digital oilfield is a concept that involves automating workflows by integrating business process management with digital technologies. This approach enables operators to collect, analyze, and respond to real-time production-related information, leveraging emerging technologies such as artificial intelligence (AI), the internet of things (IoT), augmented reality, mobile connectivity, and cloud computing.

The main solutions for digital oilfields include hardware solutions, software and service solutions, and data storage solutions. Hardware solutions encompass components such as SCADA (Supervisory Control and Data Acquisition) and distributed control systems (DCS), providing operators with the means to monitor pipelines or gas wells and offering control functionality for processes and equipment. The processes involved in digital oilfields include production optimization, drilling optimization, reservoir optimization, safety management, and others. These solutions offer instrumentation, automation, and information technology services for both onshore and offshore applications.

The digital oilfield market research report is one of a series of new reports from The Business Research Company that provides digital oilfield market statistics, including digital oilfield industry global market size, regional shares, competitors with digital oilfield market share, detailed digital oilfield market segments, market trends, and opportunities, and any further data you may need to thrive in the digital oilfield industry. This digital oilfield market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The digital oilfield market size has grown steadily in recent years. It will grow from $28.91 billion in 2024 to $30.33 billion in 2025 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to rise of edge computing, increased focus on sustainability, rise in data analytics adoption, automation of oilfield operations, enhanced connectivity and communication, increased focus on health, safety, and environment (HSE).

The digital oilfield market size is expected to see strong growth in the next few years. It will grow to $39.16 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to advancements in artificial intelligence (AI), increasing demand for oil and gas, shift towards predictive maintenance, cybersecurity measures, remote operations and collaboration, sustainable practices in oil and gas. Major trends in the forecast period include remote operations and collaboration, integration of internet of things (IoT), digital twin implementation, partnerships, shift towards predictive maintenance.

The rise in offshore exploration and drilling activities is anticipated to drive the growth of the digital oilfields market in the future. Offshore exploration and drilling involve extracting petroleum and natural gas from oceanic reserves rather than land-based reserves, utilizing either mobile or fixed platforms located off the coast. The offshore oil industry employs digital oilfield technology to facilitate deep-water drilling. Furthermore, digital oilfield products and services are utilized to enhance productivity, lower costs, and mitigate risks in oil and gas operations. For example, data from the Newfoundland and Labrador Statistics Agency, part of the economics and statistics branch of the Canadian Department of Finance, indicates that 52 million barrels of oil were extracted from offshore Newfoundland and Labrador between January and July 2022. Additionally, as of May 1, 2021, the Bureau of Ocean Energy Management, a U.S. Department of the Interior agency, oversees 12.1 million outer continental shelf (OCS) acres with 2,287 active oil and gas leases. In FY 2020, the federal government produced approximately 641 million barrels of oil and 882 billion cubic feet of gas offshore, primarily in the Gulf of Mexico, accounting for 2% of domestic natural gas production and 15% of total domestic oil output. Therefore, the increase in offshore exploration and drilling activities is propelling the growth of the digital oilfields market.

The growing adoption of cloud computing is projected to drive the growth of the digital oilfield market in the future. Cloud computing encompasses the delivery of a range of computing services, such as servers, storage, databases, networking, software, and analytics, over the internet. It provides scalable and flexible storage solutions, enabling oil and gas companies to effectively store and manage the large volumes of data generated during oilfield operations. This data may include insights from sensors, drilling activities, reservoir simulations, and more. Cloud platforms facilitate easy access to this information from various locations, enhancing collaboration and decision-making. For example, a report from Exploding Topics in November 2022 noted that the annual revenue from cloud infrastructure services is expected to reach $178 billion, with 90% of large enterprises implementing a multi-cloud infrastructure. Additionally, the cloud applications market is anticipated to reach $168.6 billion by 2025. Therefore, the increasing utilization of cloud computing is expected to significantly contribute to the growth of the digital oilfield market.

The increasing global demand for oil and gas is anticipated to drive the growth of the digital oilfield market in the coming years. This rising demand is primarily attributed to economic growth. By utilizing digital oilfield technologies, oil and gas companies and service providers can remotely monitor and manage critical operations at production facilities, which helps enhance exploration and production (E&P) productivity and efficiency by minimizing equipment downtime and improving hydrocarbon recovery. Furthermore, in the oil and gas sector, digital oilfields reduce the need for on-site personnel, thereby enhancing worker safety. For instance, a report from the International Energy Agency in November 2023 indicated that global oil demand is projected to rise by 1.5 million barrels per day in 2024, reaching approximately 102.4 million barrels per day. Consequently, the growing demand for oil and gas worldwide is fueling the expansion of the digital oilfield market.

Technological advancements are a significant trend gaining traction in the digital oilfields market. Major companies in this sector are moving toward next-generation automation technologies to secure a competitive advantage. For example, in February 2023, Baker Hughes, a US-based energy technology firm, introduced Leucipa, a new digital solution aimed at improving efficiency and sustainability in oil and gas operations. This cloud-based automated field production software helps operators proactively manage production while simultaneously reducing carbon emissions. Leucipa focuses on achieving specific outcomes by leveraging data to drive intelligent operations. This innovation underscores Baker Hughes' dedication to enhancing digital capabilities for more efficient, informed, and sustainable energy practices.

Key players in the digital oilfields sector are concentrating on technological innovations in oil and gas field solutions to maintain their market position. Oil and gas field solutions encompass a variety of products, services, technologies, and strategies designed to tackle challenges and optimize operations in the exploration, extraction, production, and processing of oil and gas resources. For instance, in October 2023, Halliburton Company, a US-based energy services provider, launched the FlexRite Selective Access Multilateral Completion System, which enhances reservoir contact while reducing time, costs, and environmental impact. Furthermore, the EquiFlow Density Technology optimizes inflow control by self-adjusting flow restrictions, facilitating increased oil production rates and minimizing water influx. Lastly, the Intelevate Digital Platform enhances the performance of electrical submersible pumps (ESPs) by combining historical engineering data with real-time operational information, providing operators with a comprehensive view for improved monitoring and management.

In June 2023, Halliburton Company, a US-based provider of products and services to the energy sector, acquired Resoptima AS for an undisclosed sum. This acquisition emphasizes Halliburton's strategic aim to enhance its digital capabilities and improve its offerings within the oilfield industry. Resoptima AS is a Norway-based provider of digital oilfield solutions.

Major companies operating in the digital oilfield market are TE Connectivity Ltd., Eaton Corporation PLC, Rockwell Automation Inc., Molex LLC, Weidmuller Interface GmbH & Co. KG, WAGO Kontakttechnik GmbH & Co. KG, Phoenix Contact GmbH & Co. KG, Wieland Electric GmbH, ABB Ltd., Weco Electrical Connectors Inc., Ningbo Degson Electrical Co.Ltd., Metz Connect GmbH, Dinkle Group, K.A. Schmersal GmbH & Co. KG, Altech Corporation, Amphenol Corporation, Bourns Inc., E-T-A Engineering Technology, FCI Connectors Ltd., Keystone Electronics Corp., Lumberg Automation Components GmbH & Co., Groupe Carbone Lorraine SA, OMEGA Engineering Inc., Panduit Corp., RIA Connect Inc., Sprecher + Schuh Inc., Struthers-Dunn LLC, Weiland Electric Inc., Wurth Elektronik GmbH & Co. KG

North America was the largest region in the digital oilfield market share in 2024. The regions covered in the digital oilfield market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the digital oilfield market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital oilfield market consists of revenues earned by entities by providing advance analytics, robotics, cloud computing, and mobility technologies. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital oilfield market also includes sales of pistons, bearings, cylinder heads, intake manifolds, crankshafts, transmissions and automotive pumps which are used in providing digital oilfields services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Digital Oilfield Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on digital oilfield market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for digital oilfield ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The digital oilfield market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Solution: Hardware Solutions; Software And Service Solutions; Data Storage Solutions
• 2) By Process: Production Optimization; Drilling Optimization; Reservoir Optimization; Safety Management; Other Process
• 3) By Service: Instrumentation And Automation; Information Technology
• 4) By Application: Onshore; Offshore
• Subsegments:
• 1) By Hardware Solutions: Sensors And Monitoring Devices; Automation And Control Systems; Drilling Equipment
• 2) By Software And Service Solutions: Oilfield Management Software; Production Optimization Software; Consulting And Engineering Services
• 3) By Data Storage Solutions: Cloud Storage Solutions; On-Premises Data Storage; Big Data Analytics Platforms
• Companies Mentioned: TE Connectivity Ltd.; Eaton Corporation PLC; Rockwell Automation Inc.; Molex LLC; Weidmuller Interface GmbH & Co. KG
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.