DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “North America Digital Oilfield Market By Process (Drilling Optimization, Production Optimization, Reservoir Optimization, & Others), By Solution (Instrumentation & Automation Vs. IT Services), Competition Forecast & Opportunities, 2012-2022” report to their offering.
In the backdrop of increasing offshore field development activities being undertaken in the Gulf of Mexico, North America digital oilfield market is projected to cross $6 billion by 2022.
During the forecast period, oil & gas companies are expected to flock the prospective offshore Gulf of Mexico. Offshore field development activities suffered a short-term setback after BP’s oil spill in the Gulf of Mexico, but is gaining traction as operations standardize and health and safety rules are stringently being complied in the region. This is likely to fuel demand for digital oilfield solutions in North America in the next five years
Key Trends:
- Increasing Partnerships and Joint Ventures
- Growing Consolidation in Digital Oilfield Industry
- Rising Production from Offshore Fields
- Revenue Generation through Aftermarket Services
- Surging Investments in Research & Development
- Downturn in Oil & Gas Industry
- Implementation of Stringent Regulations for Offshore E&P Activities
For more information about this report visit http://www.researchandmarkets.com/research/xpls62/north_america