Oilfield communications market to cross 3 18

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Oilfield Communications Market Trends Analysis | Industry Report,

Integration of departments in the oil and gas industry and increasing significance of cyber security are some of the driving factors of the oilfield communications market. Fleet management communication to play a key role in the oilfield communications market by The fleet management communication and pipeline Supervisory Control and Data Acquisition SCADA segments have the largest market share in the oilfield communications solution market during the forecast period.

The market share is expected to grow due to the adoption of advanced communication solutions and increasing investment in cost-effective digital oilfield solutions by the oil and gas industry. M2M communication has the highest market growth rate during the forecast period.

Microwave communication network is expect to have the highest growth rate Among oilfield communications network technology market, the microwave communication network segment is expected to grow at the highest rate as it provides uninterrupted and secured communication services, whereas VSAT communication network is the second fastest growing market during the forecast period.

The North American region is expected to contribute the largest market share in the oilfield communications market North America is expected to hold the largest market share in the oilfield communications market during the forecast period.

North America is the pioneer in this market and is expected to grow at a highest rate as it is the largest oil and gas producer with companies seeking advanced digital communication solutions for their onshore and offshore field operations.

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4 Oilfield Review Reader Survey Highlights Mark Andersen Houston, Texas, USA Lisa Stewart Ridgefield, Connecticut, USA Readers of the Autumn issue . MarketsandMarkets forecasts the oilfield communications market to grow from USD Billion in to USD Billion by , at a Compound Annual Growth Rate (CAGR) of %.

Integration of departments in the oil & gas industry and increasing significance of cyber security are some of the driving factors of the oilfield communications market.