"Actionable Insights to Fuel Your Growth"

Connected Oilfield Market Size, Share & Industry Analysis, By Solution (Hardware, Software, Others), By Application (Onshore, Offshore), and Regional Forecast, 2024-2032

Region : Global | Report ID: FBI101548 | Status : Ongoing



The integration of oil and gas wells is essential to get real-time data. Information and communication technology (ICT) is being used by oil companies to integrate oil and gas network across the region. The industry-recognized the importance of connected oilfields to manage future oil and gas developments and the effective production existing reserves. It is essential to integrate and connect business processes, geographies, and organization.

The use of collaborative information allows oil and gas experts around the world to assimilate and interrogate large volumes of data and information to make right business decision. The connected oilfield is all about integrating operation using ICT and Internet of Things (IoT) to change the work processes for better decision making, to manage and control equipment and processes.

Key Market Driver -

Key Market Driver – Shifting trend towards digitalization of wells for better control over asset management

Key Market Restraint -

Key Market Restraint – Highly expensive technology

Society of Petroleum Engineers quoted that “Over the next decade the way in which we understand our reservoirs, identify development options, manage and optimize our wells, facilities, and associated products will all change radically. Logically this leads to a substantial impact on the people working on these fields.” Ultimately connected oilfield with real-time and right time information will facilitate distributed problem-solving, decision making, and enhance effective asset management.

Connected oilfield market is segmented into solution and application. The solution is further divided into hardware, software, and others. Hardware solution use sensors, flow measuring meters, cables, and various other equipment to monitor and control the oil wells. Software-based solution mainly uses information and communication technology, IoT based solution to collect the data of well across the geographic boundaries. This solution is majorly used in onshore application to maximize the efficiency of wells and reduce the production cost.

The integration of wells through digitalization provide not only real-time data for efficient control over processes and equipment but also useful in strategic decision making to avoid losses. Rising investment in information and communication technology by major oil companies is expected to boost the growth of the connected oilfield market.

Digitalization of oil wells includes the use of software and hardware-based solution, which is highly expensive and expected to retard the growth of the connected oilfield market.

Key Players Covered

The major companies providing connected oilfield solution are Rockwell Automation, Baker Hughes, a GE company, Schlumberger, ABB, Siemens, Emerson, Weatherford, Halliburton, Redline Communications, Petrolink, Pason Systems Corp., KONGSBERG, Digi International, and National Oilwell Varco.

Regional Analysis

The connected oilfield market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Major oil companies are adapting the advance technology for digitalization of reservoir for effective monitoring and control of processes and equipment. Massive investment in unconventional hydrocarbon production along with the implementation of high-end technology is expected bolster the growth of the connected oilfield market in North America.

To gain extensive insights into the market, Request for Customization

Europe is playing significant role in uplifting connecting oilfield market. Increasing demand for technological prowess to enhance the overall efficiency of the oil wells along better asset management is expected to boost the growth of the connected oilfield market in Europe. China and India account major demand for oil and gas and importing lot of hydrocarbons to bolster their economy. These countries embracing digital oilfield technologies to cut down the cost and optimize business operation.




By Solution

  • Hardware

  • Software

  • Others

By Application

  • Onshore

  • Offshore

By Geography

  • North America (the USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)


Key Industry Developments

  • In June 2019, Oilfield service provides Baker Hughes, a GE company has entered into a joint venture with Californian software solution provider C3.ai to leverage digital transformation in the oil and gas industry. Artificial Intelligence (AI) will help to monitor and control the processes and equipment to make a better business decision.

  • In February 2019, A joint venture between Schlumberger and Rockwell Automation to solve the problems of the oil and gas industry by creating a fully integrated digital oilfield solution. The solution will provide oil companies to optimize the output of conventional and unconventional wells, and extend well life.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients


Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.