Middle East and Africa Digital Oilfield Market Overview
According to SPER Market Research, the Middle East and Africa Digital Oilfield Market is estimated to reach USD 7.74 billion by 2033 with a CAGR of 8.44%.
The automation of upstream, midstream, and downstream oilfield operations is referred to as a digital oilfield. It is a sector of the energy business that has improved the productivity and profitability of the manufacturing process by integrating cutting-edge software and data analysis techniques into its operations. They provide benefits including increased safety, improved environmental protection, optimised hydrocarbon production rates, and convenience in locating deposits and fully utilising them. The installation of sensors and screens on an oil and gas field is known as a "digital oilfield." Automation of workflows and the integration of digital technologies into corporate processes is a notion. It enables a business to lessen interference from people and the risks connected with oil and gas operations.
Exploring the Growth Drivers of the Middle East and Africa Digital Oilfield Industry.
The Middle East and Africa digital oilfield industry is driven by the need for cost optimization and improved operational efficiency. Digital technologies enable efficient reservoir management, real-time monitoring, predictive maintenance, and automation, resulting in cost savings. As oilfields become more complex, digital solutions help optimize production processes, enhance safety, and maximize productivity. Data-driven decision-making using digital oilfield technologies enables operators to optimize production, reduce downtime, and improve reservoir performance. Asset integrity and maintenance are prioritized through real-time monitoring, early fault detection, and predictive maintenance capabilities. The availability of reliable communication and connectivity infrastructure facilitates the implementation of digital oilfield solutions, enabling real-time data transmission, remote monitoring, and collaboration.
What challenges does the Middle East and Africa Digital Oilfield Market face?
The Middle East and Africa Digital Oilfield Market faces challenges including limited digital infrastructure, data quality and integration issues, cybersecurity risks, legacy systems, and a skills and talent gap. Inadequate connectivity hampers technology implementation, while ensuring accurate and consistent data integration across systems is complex. Cybersecurity poses threats to critical infrastructure and data protection. Integrating digital solutions with existing legacy systems is challenging. Additionally, there is a shortage of skilled professionals in data analytics, automation, and digital technologies. Addressing these challenges requires improving infrastructure, data management practices, cybersecurity measures, system compatibility, and investing in skill development.
In what ways has the COVID-19 pandemic affected Middle East and Africa Digital Oilfield Market?
The COVID-19 pandemic significantly impacted the Middle East and Africa Digital Oilfield Market, the pandemic led to a global economic slowdown and reduced oil demand, resulting in a decline in oil and gas operations. This slowdown affected the adoption and implementation of digital oilfield technologies as companies focused on cost-cutting measures and deferred non-essential projects. COVID-19 disrupted global supply chains, including the delivery of digital oilfield equipment, software, and components. This resulted in delays in project timelines and implementation schedules, affecting the market's growth. With restrictions on travel and social distancing measures, the industry had to adapt to remote work arrangements. This shift affected collaboration and hindered the implementation of digital solutions that rely on on-site installations, training, and maintenance. Delays in project timelines and reduced capital expenditure on digital solutions were common due to the economic downturn and declining oil prices.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Offering, By Process, By Technology, By Application
|
| Regions covered | Bahrain, Egypt, Iraq, Israel, Kuwait, Oman, Qatar, Saudi Arabia, South Africa, U.A.E, Rest of the Middle East and Africa
|
| Companies Covered | ABB, Accenture PLC, Anton Oilfield Services (Group) Ltd., Baker Hughes Company, Denholm Oilfield Services, Emerson Electric Co., Halliburton Company, Honeywell International Inc, International Business Machines (IBM) Corporation, Kuwait Oil Company, Middle East Oilfield Services, Nordic Energy FZC, OiLSERV, Osperity, Petrolink, Schlumberger Limited, Siemens AG, Sinopec Oilfield Service Corporation, Swire Oilfield Services Ltd., Weatherford International PLC, Others
|
Key Target Audience:
- Consultants and advisory firms
- End-users and operators
- Government organizations
- Industry associations and trade organizations
- Investors and financial institutions
- Maintenance and support providers
- Oil and gas companies
- Oilfield service providers
- Research institutions
- Technology providers
Middle East and Africa Digital Oilfield Market Segmentation:
1. By Offering:
- Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Offering, 2023-2033
- Hardware
- Services
- Software
2. By Process:
- Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Process, 2023-2033
- Drilling Optimization
- Production Optimization
- Reservoir Optimization
- Safety Management
3. By Technology:
- Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Technology, 2023-2033
- AI & Advance Analytics
- Cloud Computing
- IoT & Mobile Devices
- Robotics
4. By Application:
- Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Application, 2023-2033
- Off-Shore
- On-Shore
5. By Region:
- Bahrain
- Egypt
- Iraq
- Israel
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- South Africa
- U.A.E
- Rest of the Middle East and Africa
Key Topics Covered in the Report:
- Middle East and Africa Digital Oilfield Market Size (FY’2023-FY’2033)
- Outline of Middle East and Africa Digital Oilfield Market
- Segmentation of Middle East and Africa Digital Oilfield Market By Offering (Software, Hardware, Services)
- Segmentation of Middle East and Africa Digital Oilfield Market By Process (Production Optimization, Reservoir Optimization, Drilling Optimization, Safety Management, Others)
- Segmentation of Middle East and Africa Digital Oilfield Market By Technology (IoT & Mobile Devices, AI & Advance Analytics, Cloud Computing, Robotics, Others)
- Segmentation of Middle East and Africa Digital Oilfield Market By Application (On-Shore, Off-Shore)
- Statistical view of Middle East and Africa Digital Oilfield Market
- Analysis of the Growth of Middle East and Africa Digital Oilfield Market
- Obstacles and Challenges in Middle East and Africa Digital Oilfield Market
- Competitive Landscape in the Middle East and Africa Digital Oilfield Market
- Impact of COVID-19 and Demonetization on Middle East and Africa Digital Oilfield Market
- Details on New Investment in Middle East and Africa Digital Oilfield Market
- Competitive Analysis of Middle East and Africa Digital Oilfield Market
- Key Participant in the Middle East and Africa Digital Oilfield Market
- SWOT Analysis of Middle East and Africa Digital Oilfield Market
- Middle East and Africa Digital Oilfield Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Middle East and Africa Digital Oilfield Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Middle East and Africa Digital Oilfield Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East and Africa Digital Oilfield Market
7. Middle East and Africa Digital Oilfield Market, By Offering (USD Million)
7.1. Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Offering, 2023-2033
7.2. Hardware
7.3. Services
7.4. Software
8. Middle East and Africa Digital Oilfield Market, By Process (USD Million)
8.1. Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Process, 2023-2033
8.2. Drilling Optimization
8.3. Production Optimization
8.4. Reservoir Optimization
8.5. Safety Management
8.6. Others
9. Middle East and Africa Digital Oilfield Market, By Technology (USD Million)
9.1. Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Technology, 2023-2033
9.2. AI & Advance Analytics
9.3. Cloud Computing
9.4. IoT & Mobile Devices
9.5. Robotics
9.6. Others
10. Middle East and Africa Digital Oilfield Market, By Application (USD Million)
10.1. Middle East and Africa Digital Oilfield Market Value Share and Forecast, By Application, 2023-2033
10.2. Off-Shore
10.3. On-Shore
11. Middle East and Africa Digital Oilfield Market Forecast, 2019-2033 (USD Million)
11.1. Middle East and Africa Digital Oilfield Market Size and Market Share
12. Middle East and Africa Digital Oilfield Market, By Offering, 2019-2033 (USD Million)
12.1. Middle East and Africa Digital Oilfield Market Size and Market Share By Offering (2019-2026)
12.2. Middle East and Africa Digital Oilfield Market Size and Market Share By Offering (2027-2033)
13. Middle East and Africa Digital Oilfield Market, By Process, 2019-2033 (USD Million)
13.1. Middle East and Africa Digital Oilfield Market Size and Market Share By Process (2019-2026)
13.2. Middle East and Africa Digital Oilfield Market Size and Market Share By Process (2027-2033)
14. Middle East and Africa Digital Oilfield Market, By Technology, 2019-2033 (USD Million)
14.1. Middle East and Africa Digital Oilfield Market Size and Market Share By Technology (2019-2026)
14.2. Middle East and Africa Digital Oilfield Market Size and Market Share By Technology (2027-2033)
15. Middle East and Africa Digital Oilfield Market, By Application, 2019-2033 (USD Million)
15.1. Middle East and Africa Digital Oilfield Market Size and Market Share By Application (2019-2026)
15.2. Middle East and Africa Digital Oilfield Market Size and Market Share By Application (2027-2033)
16. Middle East and Africa Digital Oilfield Market, By Region, 2019-2033 (USD Million)
16.1. Middle East and Africa Digital Oilfield Market Size and Market Share By Region (2019-2026)
16.2. Middle East and Africa Digital Oilfield Market Size and Market Share By Region (2027-2033)
16.3. Bahrain
16.4. Egypt
16.5. Iraq
16.6. Israel
16.7. Kuwait
16.8. Oman
16.9. Qatar
16.10. Saudi Arabia
16.11. South Africa
16.12. U.A.E
16.13. Rest of the Middle East and Africa
17. Company Profile
17.1. ABB
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Accenture PLC
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Anton Oilfield Services (Group) Ltd.
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Baker Hughes Company
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Denholm Oilfield Services
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Emerson Electric Co.
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Halliburton Company
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Honeywell International Inc
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. International Business Machines (IBM) Corporation
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Kuwait Oil Company
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Middle East Oilfield Services
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Nordic Energy FZC
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. OiLSERV
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. Osperity, Emerson Electric Co.
17.14.1. Company details
17.14.2. Financial outlook
17.14.3. Product summary
17.14.4. Recent developments
17.15. Petrolink
17.15.1. Company details
17.15.2. Financial outlook
17.15.3. Product summary
17.15.4. Recent developments
17.16. Schlumberger Limited
17.16.1. Company details
17.16.2. Financial outlook
17.16.3. Product summary
17.16.4. Recent developments
17.17. Siemens AG
17.17.1. Company details
17.17.2. Financial outlook
17.17.3. Product summary
17.17.4. Recent developments
17.18. Sinopec Oilfield Service Corporation
17.18.1. Company details
17.18.2. Financial outlook
17.18.3. Product summary
17.18.4. Recent developments
17.19. Swire Oilfield Services Ltd.
17.19.1. Company details
17.19.2. Financial outlook
17.19.3. Product summary
17.19.4. Recent developments
17.20. Weatherford International plc
17.20.1. Company details
17.20.2. Financial outlook
17.20.3. Product summary
17.20.4. Recent developments
17.21. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope