In a recent published report, Kenneth Research has updated the market report for Oilfield Communications Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Oilfield Communications Market products.
According to Verified Market Research, The Global Oilfield Communications Market was valued at USD 3.24 billion in 2017 and is projected to reach USD 5.88 billion by 2025, growing at a CAGR of 8.2% from 2018 to 2025.
What is Oilfield Communications?
Oilfield communication is the term used to describe the communication systems that are implemented for the primary purpose of being able to provide support or assistance to the various oil and gas companies that may be in need of information for the oil exploration, production processes, reporting technology, automation and other processes that occur.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Oilfield Communications Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The implementation of oilfield communications in areas that are more remote or harsh enables there to be more informed decisions being made concerning the processes between the onshore and offshore operations. Factors such as the increase in effective communication as well as the enabling of more well informed decisions are driving the market for oilfield communications. Factors such as the cost to uphold this process are restraining the markets growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Oilfield Communications Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Oilfield Communications Market Competitive Landscape
The “Global Oilfield Communications Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such Siemens AG, Alcatel Lucent SA, Speedcast International Limited, Ceragon Networks Ltd., Huawei Technologies Co. Ltd., Rad Data Communications Inc., ABB Ltd., Rignet Inc., Commscope Inc., Hughes Network Systems LLC, Inmarsat PLC, Airspan Networks Inc., Tait Communications, Commtel Networks Pvt. Ltd., Baker Hughes Incorporated. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Oilfield Communications Market, By Communication Network Technology
• Microwave communication network
• Tetra Network
• Cellular Communication Network
• Fiber Optic Based Communication Network
• VSAT Communication Network
• Different Band Types (L-Band, HTS, KU Band, C Band)
Global Oilfield Communications Market, By Component
o Managed Services
o Professional Services
o Pipeline Supervisory Control and Data Acquisition
o Asset Performance Communications
o Unified Communications
o VoIP Solutions
o Oilfield to Control Center Data Communication
Global Oilfield Communications Market, By Field Site
• Onshore Communications
• Offshore Communication
Global Oilfield Communications Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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