Oilfield Communications Market Insights by Emerging Trends, Growth Forecast With Revenue Analysis

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The global oilfield communications market size grew from USD 3.4 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. Various factors such as incrasing investments in enhancing netwok infrastructure, growing demand from oil and gas operators to scale the production of mature oilfields, and rising technological advancements for communication across oilfields are expected to drive the adoption of the oilfield communications market.

Businesses providing oilfield communications solutions and services are expected to witness a significant decline in their growth for a short span of time. The oil and gas industry is also facing a crisis due to an oil price war. The pandemic might result in inefficient companies facing liquidity crisis situations, healthier companies diversifying their businesses and changing their business models, and companies facing the shortage of skilled workforce when the market rebounds due to layoffs during the lockdown.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Oilfield Communications Market Insights by Emerging Trends, Growth Forecast With Revenue Analysis – Global Forecast to 2025

The services segment to grow at a higher CAGR during the forecast period
The oilfield communications market is segmented on the basis of component, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. The growth can be attributed to the growing need for oil and gas companies to save time and money during exploration, drilling, and production operations.

The microwave communication network segment to grow at the highest CAGR during the forecast period
The oilfield communications market by communication network has been segmented into VSAT communication network, TETRA network, cellular communication network, fiber optic-based communication network, and microwave communication network. The microwave communication network segment is expected to grow at a rapid pace during the forecast period. The growth can be attributed to its ability to operate without any fiber-optic infrastructure and the relative ease of setting up a wireless network.

The midstream application segment to grow at the highest CAGR during the forecast period
The oilfield communications market is segmented on the basis of application into upstream, midstream, and downstream. As onshore sites need periodic inspections to obtain early detection of events that might cause pipeline failure or create hazardous conditions, it is important to protect those pipelines from leaks and corrosion to protect the environment as well as keep the public safe from the occurrence of any hazardous condition. This leads to the adoption of oilfield communications solutions for onshore field sites.

Among field site, the offshore segment to grow at a higher CAGR during the forecast period
The oilfield communications market is segmented on the basis of field site into onshore and offshore. With the global lockdown and work-from-home practice picking up as need of the hour, companies are moving to the cloud-based infrastructure for managing and monitoring customer data and analyzing the supply chain process. There will be continuous growth in the demand for offshore infrastructure services and spending on specialized software, communications equipment, and telecom services.

Among regions, Middle East and Africa (MEA) to grow at the highest CAGR during the forecast period
MEA has witnessed the advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. The growth can be attributed to the increasing number of oil refineries and numerous exploration activities across the region.

Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the oilfield communications market.
 By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
 By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
 By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%

Research Coverage
The market study covers the oilfield communications market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, communication network, field site, application, and regions. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall oilfield communications market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

1 INTRODUCTION 23
1.1 INTRODUCTION TO COVID-19 23
1.2 COVID-19 HEALTH ASSESSMENT 23
FIGURE 1 COVID-19: GLOBAL PROPAGATION 23
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES 24
1.3 COVID-19 ECONOMIC ASSESSMENT 25
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020 25
1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT 26
FIGURE 4 CRITERIA IMPACTING GLOBAL ECONOMY 26
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 27
1.4 OBJECTIVES OF THE STUDY 28
1.5 MARKET DEFINITION 28
1.5.1 INCLUSIONS AND EXCLUSIONS 29
1.6 MARKET SCOPE 29
1.6.1 MARKET SEGMENTATION 30
1.6.2 REGIONS COVERED 30
1.6.3 YEARS CONSIDERED FOR STUDY 31
1.7 CURRENCY CONSIDERED 31

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