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Middle East & Africa Digital Oilfield Market Size

Report ID: GMI8714
Published Date: Mar 2024
Report Format: PDF

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Middle East & Africa Digital Oilfield Market

Middle East & Africa Digital Oilfield Market was valued at USD 4.8 billion in 2023 and is projected to grow at a CAGR of over 6.4% between 2024 and 2032, propelled by increasing investments in digital technologies by oil and gas companies to enhance operational efficiency, optimize production, and reduce costs.

Middle East & Africa Digital Oilfield Market

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The energy investment portfolio for the MENA region over the period 2022–2026 amounts to USD 879 billion, of which, a substantial amount will be invested toward digital technologies to efficiently optimize production. Moreover, the growing need to mitigate risks, improve safety measures, and maximize reservoir recovery rates amidst volatile market conditions is accelerating the uptake of digital oilfield solutions across the Middle East and Africa.

Middle East & Africa Digital Oilfield Market Report Attributes
Report Attribute	Details
Base Year:	2023
Middle East & Africa Digital Oilfield Market Size in 2023:	USD 4.8 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.4%
2032 Value Projection:	USD 8.3 Billion
Historical Data for:	2019 to 2023
No. of Pages:	110
Tables, Charts & Figures:	234
Segments covered:	Process, Service, Application, Technology
Growth Drivers:	Volatile crude oil & gas prices Growing investment toward digital technology
Pitfalls & Challenges:	Budgets constraints and limited availability of skilled workforce Poor data quality and increased cyber security risk

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Middle East & Africa digital oilfield was reached USD 4.8 billion in 2023 and is projected to record a CAGR of 6.4% through 2032, supported by increasing investments in digital technologies by oil & gas companies.

Middle East & Africa onshore digital oilfield market is estimated to grow at a rate of over 6.5% through 2032, as advanced solutions such as IoT sensors, data analytics, and automation are enhancing operational efficiency, optimizing production, and reducing costs in onshore operations.

Saudi Arabia digital oilfield market value is projected to surpass USD 2.5 billion by 2032, backed by advancements in technology, such as IoT sensors, data analytics, and AI, enabling real-time monitoring and optimization of oilfield operations.

ABB, Aviat Networks, Inc., Accenture, CGG, Caterpillar, Cisco Systems, Inc., Digi International Inc., EDG, Inc., Emerson Electric Co., General Electric, Honeywell International Inc., Halliburton, Infosys Limited, and Intel Corporation.