The Global Oilfield Communications Market is accounted for $2.95 billion in 2017 and is expected to reach $6.25 billion by 2026 growing at a CAGR of 8.7% during the forecast period. Rising demand for offshore oil field communication solutions, new projects in drilling for oil in extreme conditions and rising implication of cyber security are some of the key factors fuelling the market growth. However, factors such as strict government regulatory norms and probable risk in data and asset security are hindering the market. Growing demand for cost-effective solutions in the oil and gas industry provides ample of opportunities for the market growth.
Oilfield communications require a consistent and competent wireless network that is able to function over long distances and under harsh weather conditions. Oilfield communication networks and technologies supply lightning broadband speeds, thereby sustaining several applications that ultimately develop the operational efficiency and safety of the oilfield operations in a cost-effective manner.
Amongst Communication Network Technology, Very Small Aperture Terminal (VSAT) is a satellite communications system that serves home and business users. A VSAT requires a box that interfaces between the user’s computer and an exterior antenna with a transceiver. The transceiver receives or sends a signal to a satellite transponder in the sky. The satellite sends and receives signals from an earth station computer that acts as a hub for the system. The growth is due to the need for cyber security in the oil & gas industry. Asia Pacific is anticipated to grow highest CAGR during the forecast period due to the high investing R&D activities and rapidly increasing oilfield excavation activities in this region.
Some of the key players in the Oilfield Communications market include Siemens AG, ABB Ltd, Huawei Technologies Co. Ltd., Speedcast International Limited, Commtel Networks Pvt. Ltd., Rad Data Communications, Inc., Rignet, Inc., Baker Hughes Incorporated, Ceragon Networks Ltd., Alcatel-Lucent S.A., Tait Communications, Commscope, Inc., Inmarsat PLC, Airspan Networks, Inc. and Hughes Network Systems LLC.
Based on products, Lithium iron phosphate (LFP) batteries are expected to witness substantial growth rate owing to its better performance in stationary and portable applications. Besides, Lithium Nickel Manganese Cobalt (Li-NMC) segment is projected to register commendable growth rate driven by increasing adoption in electric vehicles and cost efficiency. North America is anticipated to hold lucrative market share for Oilfield Communications, whereas Asia Pacific is projected to grow at a faster pace. Rapid industrialization, increasing demand from automotive industries and huge investments by key players in emerging countries such as China and India are the factors favoring the market growth in this region.
Some of the key players in Oilfield Communications market include A123 Systems, LLC., BAK Group, BYD Company Ltd., GS Yuasa Corporation, Hitachi Ltd., Johnson Controls Inc., LG Chem, Ltd., Panasonic Corporation, Saft Groupe SA, Samsung SDI Co., Ltd., Toshiba Corporation, Valence Technology, Inc., Automotive Energy Supply Corporation (AESC), Energus Power Solutions, Ltd, and Roofer Technology Co. Ltd.
- Managed Services
- Professional Services
Communication Network Technologies Covered:
- Tetra Network
- Fiber Optic-Based Communication Network
- Microwave Communication Network
- Cellular Communication Network
- VSAT Communication Network
Field Sits Covered:
- Onshore Communications
- Offshore Communications
- Midstream Communication Solutions
- Downstream Communication Solutions
- Upstream Communication Solutions
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Table of Content
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Oilfield Communications Market, By Component
6 Global Oilfield Communications Market, By Product
7 Global Oilfield Communications Market, By Power Capacity
8 Global Oilfield Communications Market, By Vertical
9 Global Oilfield Communications Market, By Geography
10 Key Developments
11 Company Profiling
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