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Europe Digital Oilfield Market Size - By Process (Production Optimization, Drilling Optimization), By Service (Instrumentation & Automation, Information Technology), By Application (Onshore, Offshore), By Technology (IoT, Robotics, Mobility) & Forecast, 2023 – 2032

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

Europe Digital Oilfield Market Size

Europe Digital Oilfield Market was valued at USD 6.7 billion in 2022 and is predicted to witness more than 6.4% CAGR from 2023 to 2032.The region's continuous emphasis on optimizing operational efficiency and reducing production costs has led to the widespread adoption of digital technologies in the oil and gas sector. The need to extract oil and gas from aging and mature fields has fueled the demand for digital oilfield services across Europe.

Europe Digital Oilfield Market

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Stringent environmental regulations have encouraged the implementation of digital solutions that monitor and reduce the industry's environmental footprint. Furthermore, the growing availability of high-speed connectivity and the integration of cloud computing and big data analytics are further propelling the market by enabling real-time data analysis and decision-making. These collective factors are reshaping the European oil and gas industry, driving the adoption of digital technologies for enhanced operational efficiency and sustainable practices.

COVID– 19 Impact

The COVID-19 pandemic disrupted the European digital oilfield market as it forced oil and gas companies to reevaluate their operations. Travel restrictions and lockdowns hindered field inspections and maintenance, emphasizing the need for remote monitoring and automation. Despite these challenges, the crisis accelerated digital adoption, with companies investing in technology to enhance operational efficiency and reduce costs. Moreover, the industry's renewed focus on sustainability and reducing environmental impact drove digital solutions that enable more responsible resource management. The pandemic reshaped the landscape of the European digital oilfield market, emphasizing the importance of agility and resilience in the face of unexpected disruptions.

Europe Digital Oilfield Market Trends

The Europe digital oilfield industry is witnessing several prominent trends. There is a growing focus on data analytics and artificial intelligence, which are being used to optimize production, predict equipment failures, and enhance reservoir management. The adoption of IoT sensors and automation is on the rise, allowing for real-time monitoring of field operations and improved decision-making. Additionally, there's a shift toward remote operations and digital twins, enabling companies to manage assets and processes virtually, reducing the need for on-site personnel. Partnerships and collaborations between technology providers and oil and gas companies are fostering innovation and the development of tailored digital solutions.

Europe Digital Oilfield Market Analysis

Europe Digital Oilfield Market Size, By Process, 2021 - 2032, (USD Billion)

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The reservoir optimization services captured around 27% of the market share in and is expected to observe 6.5% growth rate from 2023 to 2032. As advanced data analytics and modeling techniques are being increasingly harnessed to enhance oil and gas reservoir management. With a growing emphasis on extending the life of mature fields and the need to maximize resource recovery, reservoir optimization has become a critical driver for operational efficiency.

Europe Digital Oilfield Market Share, By Service, 2022

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Based on service, the instrumentation & automation services exceeded USD 3.6 billion in 2022 and is anticipated to surpass USD 6.4 billion by 2032. The integration of advanced instrumentation and automation not only improves operational performance but also addresses environmental concerns, aligning with sustainability goals. The ongoing digital transformation in the European oil and gas sector underscores the pivotal role of instrumentation and automation services in reshaping the industry and ensuring its competitiveness in a rapidly evolving energy landscape.

The Europe digital oilfield market is witnessing substantial growth in onshore applications as companies increasingly adopt digital technologies to enhance productivity and efficiency in their onshore oil and gas operations. Onshore fields benefit from real-time data analytics, remote monitoring, and automation, enabling better reservoir management, reduced operational costs, and improved decision-making. As Europe places a growing emphasis on energy sustainability and environmental responsibility, digital solutions in onshore applications not only enhance operational efficiency but also contribute to reducing the industry's carbon footprint, making them a critical driver of growth in the European digital oilfield market.

The IoT technology was worth USD 1.7 billion in 2022, with expectations of reaching over USD 3 billion by 2032. IoT solutions have revolutionized the oil and gas industry by enabling real-time data collection and analysis, enhancing operational efficiency, and reducing downtime. These technologies provide insights into equipment performance, reservoir management, and safety, optimizing production processes and reducing costs. With the adoption of IoT, European oilfields are becoming increasingly connected and intelligent, leading to improved productivity and sustainability, ultimately driving the market's growth as the industry leverages data-driven insights to make more informed decisions and enhance overall performance.

Russia Digital Oilfield Market Size, 2021 - 2032, (USD Billion)

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Russia digital oilfield market valuation to cross USD 3.7 billion in 2022 and is poised to reach USD 6.7 billion by 2032, owing to the need to modernize aging oil infrastructure, which in turn has pushed the industry to adopt advanced technologies such as IoT and automation, enhancing operational efficiency and reducing maintenance costs. Additionally, the country's emphasis on digitalization aligns with government initiatives to improve energy sector efficiency and reduce environmental impact, further boosting the adoption of digital technologies. These drivers, combined with a growing focus on data analytics, are propelling the expansion of Russia's digital oilfield market, promising increased productivity, cost savings, and sustainability in the sector.

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.

Europe Digital Oilfield Industry News:

  • In October 2022, GE Digital, a subsidiary of General Electric, unveiled CIMPLICITY and iFIX software designed for SCADA/HMI applications within the oil and gas sector. These cutting-edge software solutions offer accelerated development and heightened efficiency through native HMI, HTML5, MQTT, a unified portfolio configuration, and centralized deployment. Furthermore, this software release streamlines maintenance and installation efforts by incorporating HTML5 HMI with the Procify Operations Hub, leading to notable reductions in associated workload and installation complexities.
  • In April 2021, ABB announced that it has received a supply contract from Equinor, which is an energy solution provider, to deliver automation solutions for the Krafla field across North Sea. Under the contract, the company will provide an Unmanned Process Platform (UPP) which will be remotely operated from an onshore control centre. Moreover, ABB will further offer monitoring and control services for various units including subsea production system and the unmanned wellhead platform. The contract will enhance the company’s presence across the North Sea along with the digital oilfield industry, thereby boosting its market share in the coming years.

This Europe digital oilfield market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:

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By Process

  • Production Optimization
  • Reservoir Optimization
  • Drilling Optimization
  • Others

By Service

  • Instrumentation & Automation
  • Information Technology

Europe Digital Oilfield Market

  • Onshore
  • Offshore

By Technology

  • IoT
  • Advance Analytics
  • Robotics
  • Cloud Computing
  • Mobility
  • Others

The above information has been provided for the following countries:

  • Russia
  • Norway
  • UK
  • Denmark
  • Italy
  • Germany
  • Netherland
  • France


Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of digital oilfield in Europe was surpassed USD 6.7 billion in 2022 and is anticipated to reach over USD 12 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.

Europe Digital Oilfield Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 8
  • Tables & Figures: 231
  • Countries covered: 8
  • Pages: 210
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