DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “South 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.
The South American digital oilfield market is projected to surpass $1.22 billion by 2022.
Brazil is Leading in Digital Solutions
Brazil dominates the region’s digital oilfield solutions market. During the forecast period, growth in global digital oilfield market can be attributed to surging energy demand coupled with decreasing mature fields production, which is expected to push upstream companies to improve recovery rates by the use of digital oilfield technologies. In addition, firming crude oil prices is expected to compel companies to start their CAPEX cycle again resulting in increased demand for digital oilfield solutions.
A brief study was conducted to understand each aspect of market outlook such as drivers, challenges, trends and various other factors affecting the market. Moreover, an in-depth analysis was conducted to understand South America digital oilfield market scenario and to gauge the competitive scenario.
For more information about this report visit http://www.researchandmarkets.com/research/q4vphr/south_america