Oilfield Communications Market Opportunities and Key Market Players

Posted on 2019-11-12 by MarketsandMarkets in Technology, Telecommunications // 0 Comments

The Oilfield Communications Market is expected to grow from USD 3.1 billion in 2017 to USD 4.5 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period, as per a report by MarketsandMarkets.

Emerging digital oilfields is considered as the primary driving factor for the oilfield communications market. However, the integration of departments in the oil and gas industry and rising vulnerability to cybersecurity threats are some of the major factors accelerating the growth of the oilfield communications market. The introduction of cloud services and video conferencing is also contributing to the oilfield communication sector.

Why development and discovery of new subsea oilfields offers an opportunity?

The oil and gas industry has been flooded with many players, who have come up with the rapid discovery of oilfields in the last century. Presently, as the market seems to be saturating fast, the companies are now increasingly looking at subsea oil exploration globally to meet the increasing energy demands. In the past 2 years, there have been more than 5 subsea oilfield discoveries globally, including fields in Mozambique, East Malaysia, and Pakistan. Subsea oil and gas technology is advancing rapidly to meet the requirements of the increasingly demanding production environments: deeper water, greater distances from the shore, and higher reservoir temperatures and pressures. The most sought after technology being developed and improved in this domain is moving fluid processing to the floor of the sea, which reduces infrastructure costs and production costs, greatly improving the Return on Investment (RoI) for the companies involved in this market.

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Key Market Players for Oilfield Communications Market

The key players in the oilfield communications market include Huawei Technologies Co. Ltd. (Guangdong, China), Siemens AG (Munich, Germany), SpeedCast International Limited (Hong Kong, China), ABB Ltd. (Zurich, Switzerland), CommScope (North Carolina, US), Inmarsat Plc (London, UK), Tait Communications (Christchurch, New Zealand), Baker Hughes Incorporated (Texas, US), Alcatel-Lucent S.A. ( Boulogne-Billancourt, France), Ceragon Networks Ltd. (New Jersey, US), RAD Data Communications, Inc. (Tel Aviv, Israel), RigNet Incorporated (Texas, US), Hughes Network Systems (Maryland, US), Airspan Networks (Florida, US), and Commtel Networks, Inc. (Mumbai, India). These players have adopted various strategies such as partnerships, agreements, mergers and acquisitions, and new product developments to achieve growth in the global oilfield communications market.

Huawei Technologies operates in the global information and communications technology environment with its business presence in more than 170 countries. Huawei Technologies has classified its offering in oilfield communication into three major solutions: digital oilfield, digital pipeline, and intelligent refineries. The company has been investing heavily in its Research and Development (R&D) activities in order to strengthen its capabilities and competencies in its core business.

SpeedCast International Limited is one of the prominent global networks and satellite communications service provider. The company caters to different communication services in the oilfield communication market based on different oilfield operations. Major connectivity solution includes broadband services, cellular backhaul, FlyCast, managed network services, mobile satellite services, private networks, SeaCast, SIGMA, and VSAT. The company has classified its communication operations on the basis of connectivity, value added services, and professional services. The company also focuses on expanding its geographical presence to support the growing customer base.

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