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Digital Oilfield Market Analysis

  • Report ID: GMI1240
  • Published Date: Apr 2023
  • Report Format: PDF

Digital Oilfield Market Analysis

The onshore digital oilfield market is predicted to witness 6.5% growth between 2023 to 2032. Major nations with strong hydrocarbon potential are making massive investments in onshore oil and gas exploration operations in efforts to lower reliance on imported oil. Additionally, attempts to increase the productivity and profitability of mature oilfields are likely to promote the penetration of digital technologies across the sector, positively influencing business growth.


The digital oilfield industry size from the production optimization segment will reach USD 14 billion by 2032. Unstable oil and gas prices have driven industry participants to integrate innovative technologies and digital solutions in the oil & gas sector to improve efficiency, productivity, and agility. Integrating field data with existing production management applications facilitates accurate and reliable analysis and optimization of production parameters, which maximizes profits from the oil wells. However, the increasing number of mature wells has spurred a need for digital technology to boost output, thereby accelerating the demand for production optimization solutions during 2023-2032.

Digital Oilfield Market Share, By Process,

Digital oilfield market from the instrumentation and automation services type is slated to foresee 6% gains through 2032. Increased productivity, less human error, and lower operational downtime are a few of the key drivers influencing product adoption by major oil firms. Furthermore, the rising requirement for solutions such as smart wells, security systems, and SCADA that boost oil & gas recovery is expected to drive market demand by 2032.

North America Digital Oilfield Market Share, By Service

North America digital oilfield industry is estimated to amass USD 19 billion led by ongoing technological partnerships with IT organizations. As of 2023, a leading energy technology firm, Baker Hughes, collaborated with cloud-based well construction digital solution supplier Corva to bolster oil & gas customers' rig visualization and drive enhanced decision-making across the good lifecycle. Furthermore, rising E&P capital investment and new oil field explorations, as well as the shale boom across the U.S., are expected to drive regional market revenues.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size for digital oilfield registered a valuation of USD 30.3 billion in 2023 and is primed to progress at over 6.9% CAGR during 2024 to 2032, attributed to the volatile crude oil & gas prices.

The instrumentation and automation services sector is anticipated to attain 6% gains from 2023 to 2032. owing to its burgeoning productivity, less human error, and lower operational downtime are a few of the key drivers influencing segment growth.

The North America industry is predicted to be worth USD 19 billion by 2032 comprehended by the ongoing technological partnerships with IT organizations.

Top firms engaged in the digital oilfield industry are Intel Corporation, Siemens, ABB, General Electric, SLB, Schneider Electric, Rockwell Automation, Emerson Electric Co, Accenture, Infosys Limited, Honeywell International Inc., Sinopec Oilfield Service Corporation, Cisco Systems, Inc., Wipro, OleumTech., and Saudi Arabian Oil Company (Saudi Aramco), among others.

Digital Oilfield Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 27
  • Tables & Figures: 869
  • Countries covered: 27
  • Pages: 510
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