Assam Reporter

Oilfield Communications Market Growing at a CAGR 5.5% | Key Player Huawei, Siemens, Speedcast, Weatherford, Redline Communications

 Breaking News
  • No posts were found

Oilfield Communications Market Growing at a CAGR 5.5% | Key Player Huawei, Siemens, Speedcast, Weatherford, Redline Communications

May 26
14:55 2021
Oilfield Communications Market Growing at a CAGR 5.5% | Key Player Huawei, Siemens, Speedcast, Weatherford, Redline Communications

Huawei (China), Siemens (Germany), Hitachi ABB Power Grids (Switzerland), Speedcast (Australia), Weatherford (US), Ceragon (US), RigNet (US), Hughes (US), Redline Communications (Canada), MR Control Systems (Canada), Tait Communications (New Zealand), Honeywell (US), Intel (US), GE Digital (US), PTC (US), Commtel (India), MoStar Communications (US)
Oilfield Communications Market by Component, Communication Network (VSAT Communication Network, Fiber Optic-based Communication Network, Microwave Communication Network), Field Site, Application, and Region – Global Forecast to 2025

The global Oilfield Communications Market size to grow from USD 3.4 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. Various factors such as rising technological advancements for enhanced communication across oilfields, increasing investments in enhancing network infrastructure, and growing demand from oil and gas operators to scale the production of mature oilfields and reservoirs are expected to drive the adoption of the oilfield communications market.

The microwave communication network segment to grow at the highest CAGR during the forecast period

The oilfield communications market by communication network has been segmented into Very Small Aperture Terminal (VSAT) communication network, TErrestrial Trunked RAdio (TETRA) network, cellular communication network, fiber optic-based communication network, and microwave communication network. The microwave communication network segment is expected to grow at a rapid pace during the forecast period. The growth can be attributed to its ability to operate without any fiber-optic infrastructure and the relative ease of setting up a wireless network. The VSAT communication network segment is projected to hold the largest market size, owing to its ability to operate without any fiber optic infrastructure and the relative ease of setting up a wireless network.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=247995454

 The midstream application segment to grow at the highest CAGR during the forecast period

The oilfield communications market is segmented based on application into upstream, midstream, and downstream. The highest CAGR of the midstream application segment can be attributed to the growing concern of midstream operators to gain a sharper insight and control of data that leads to more intelligent decisions, safer conditions, increased efficiencies, and greater profits.

Oilfield communications require reliable and resilient, high-capacity wireless networks that operate over large areas under extreme environmental conditions. A single network should simultaneously support a range of fixed and mobile oil and gas Exploration and Production (E&P) applications, such as Supervisory Control and Data Acquisition (SCADA), real-time video feeds and surveillance, security and surveillance systems, drill rig communications and diagnostics, asset tracking, field workforce connectivity, and voice. Oilfield communications are defined as the technology used to gather data and information from field sites and transmit it through communication networks, as required by the oil and gas industry.

Some of the key players operating in the oilfield communications market include Huawei (China), Siemens (Germany), Hitachi ABB Power Grids (Switzerland), Speedcast (Australia), Weatherford (US), Ceragon (US), RigNet (US), Hughes (US), Redline Communications (Canada), MR Control Systems (Canada), Tait Communications (New Zealand), Honeywell (US), Intel (US), GE Digital (US), PTC (US), Commtel (India), MoStar Communications (US), DAMM Cellular Systems (Denmark), BlueJeans (US), Nesh (US), Sensia (US), Ondaka (US), Sensalytx (UK), and WellAware (US). These oilfield communications vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global oilfield communications market.

Huawei was founded in 1987 and is headquartered in Guangdong, China. The company is one of the largest telecommunication equipment manufacturers and Information and Communication Technology(ICT) service and solution providers in the world. It caters to more than 170 countries and regions and has 188,000 employees across the globe. The company offers its business solutions to industries, including government and public, finance, power, media and entertainment, education, retail, oil and gas, manufacturing, hospitality, and healthcare. It operates in three core business segments: consumer business, carrier business, and enterprise business. The company has a competitive ICT portfolio, providing end-to-end enterprise solutions. It also offers a wide range of products and solutions, including cloud computing, enterprise Long Term Evolution (eLTE) Broadband Trunking, eLTE Broadband Access, Enterprise Cloud Communication, and routers. The company has a geographic presence in North America, Europe, APAC, MEA, and Latin America. In April 2020, Huawei Cloud announced its action plan for helping customers around the world to fight COVID-19 with cloud and AI services. As a part of this international plan, Huawei Cloud will be providing free AI and cloud services and will be recruiting partners around the world to help fight this pandemic together.

Request a Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=247995454

Siemens was founded in 1847 and is headquartered in Munich, Germany. It is a technology company with core activities that include electrification, automation, and digitalization. The company provides products and solutions to various industry verticals, such as aerospace, automotive, battery manufacturing, chemical industry, cement, cranes, data centers, distributors, fiber industry, food and beverage, glass, machinery and plant construction, marine, mining, municipalities and Distribution System Operators (DSOs), oil and gas, panel building, pharmaceutical industry, power utilities tire industry transportation and logistics, and the water industry. Siemens has various segments, such as power and gas, wind power and renewables, energy management, building technologies, mobility, digital factory, process industries and drives, Healthineers, and financial services. Moreover, in May 2020, Siemens spin-off Gas and Power business and approximately its 67% stake held by the Siemens Group in the listed Siemens Gamesa Renewable Energy, S.A. (SGRE S.A.) Herein, after spin-off Hereinafter, the business of SGRE (“SGRE Business”) and the Siemens Gas and Power Business is will jointly referred to as Siemens Energy Business. The company has a vast presence in more than 200 countries and generates financial revenue from the regions such as Europe, the Commonwealth of Independent States (C.I.S.), Africa, the Middle East, Asia, Australia, and the Americas.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/oilfield-communications-market-247995454.html

Related Articles