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Europe Digital Oilfield Market Share

Report ID: GMI7208
Published Date: Oct 2023
Report Format: PDF

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Europe Digital Oilfield Market Share

Schneider Electric stands out as one of the biggest players in the European digital oilfield market, commanding a significant share in this sector. Their dominance can be attributed to their extensive range of innovative solutions, from advanced automation and control systems to IoT-enabled technologies, effectively optimizing oil and gas operations. Schneider Electric's comprehensive offerings empower the industry to enhance production efficiency, reduce downtime, and improve safety, all critical factors for the European oilfield market. Their commitment to sustainability and environmental responsibility further resonates with the evolving energy landscape in Europe, solidifying their position as a major contributor to the market growth.

The major contenders in the Europe digital oilfield market include:

ABB
Siemens
Weatherford
National Oilwell Varco
General Electric
Halliburton
SLB
Schneider Electric
Rockwell Automation, Inc.
Emerson Electric Co.
Accenture
Infosys Limited
Intel Corporation
Honeywell International Inc.
Wipro
Cisco Systems, Inc.
Digi International Inc.
Aviat Networks, Inc.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of digital oilfield in Europe was surpassed USD 7.1 billion in 2023 and is anticipated to reach over USD 12.4 billion by 2032, attributed to the region's continuous emphasis on optimizing operational efficiency and reducing production costs which has propelled the adoption of digital technologies in the oil & gas sector.

Europe digital oilfield market from the instrumentation & automation services segment generated more than USD 3.6 billion in revenue in 2022 and is estimated to amass over USD 6.4 billion by 2032, attributed to the rising need to improve operational performance and address environmental concerns across European countries.

Russia digital oilfield market accounted for more than USD 3.7 billion in 2022 and is projected to surpass USD 6.7 billion by 2032, driven by the rising need to modernize aging oil infrastructure which has surged the adoption of advanced technologies such as IoT and automation to enhance operational efficiency and reduced maintenance costs.

The major firms engaged in the market are ABB, Siemens Weatherford, National Oilwell Varco, General Electric, SLB, Schneider Electric, Rockwell Automation, Inc., Emerson Electric Co., Accenture, Infosys Limited, Intel Corporation, Honeywell International Inc., and many others.