The Middle East & Africa Digital Oilfield Service market is anticipated to grow at a considerable rate in the forecast period. The growth of the market is attributed to rising need to enhance production, burgeoning investment in exploration and production activity and surging adoption of digital oilfield solutions by organisation as it helps in reducing the operation costs. Moreover, the wave of digital transformation in the oil and gas sectors to improve oilfield reservoir surveillance and operational efficiency is strongly contributing to the growth of the market.
Key questions answered in the study
According to MarkNtel Advisors’ research report “Middle East & Africa (MEA) Digital Oilfield Service Market Analysis, 2021”, the market is anticipated to grow at a considerable CAGR during 2021-26. Based on Type of Process, Production Optimization acquired the considerable market share in MEA Digital Oilfield Service market in 2019. The digital oilfield services improve efficiency, bolster productivity, and surges agility. Besides this, the burgeoning integration of DOS with the existing production management application helps in facilitating accurate and reliable analysis by optimization of the production parameters.
“Middle East & Africa Digital Oilfield Service Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Digital Oilfield Service providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
UAE and Saudi Arabia Accounted for Largest Market Share
UAE and Saudi Arabia accounted for majority market share in Digital Oilfield Service market in 2019. UAE and Saudi Arabia are among the major oil and gas countries in the Middle East region, thus the demand for digital oilfield services is surging as it enables the company to enhance production efficiency. Moreover, the increasing investment for offshore field development activities and burgeoning demand for reservoir optimization are anticipated to fuel the adoption of the Digital Oilfield Services in UAE and Saudi Arabia as stated by the MarkNtel Advisors’ research report “Middle East & Africa Digital Oilfield Service Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Middle East & Africa Digital Oilfield Service market are Anton Oilfield Services (Group) Ltd., Baker Hughes Company, Denholm Oilfield Services, Halliburton Company, Middle East Oilfield Services, Nordic Energy FZC, OiLSERV, Schlumberger Limited, Swire Oilfield Services Ltd., Weatherford International plc etc.