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Middle East & Africa Digital Oilfield Market Trends

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

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Middle East & Africa Digital Oilfield Market Trends

The digital oilfield market across Middle East & Africa is witnessing notable growth owing to various key trends. Increased adoption of advanced technologies such as IoT, AI, and cloud computing is enhancing operational efficiency and production optimization. Companies are investing across R&D activities and developing new technologies to mitigate risks and improve asset performance. Furthermore, there's a growing emphasis on remote monitoring and automation to enable real-time monitoring and control of oilfield operations, thus fuelling the market growth.

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.