Oilfield Communications Market Trends and Forecast by 2031

The oilfield communications market size is projected to reach US$ 5.04 billion by 2031 from US$ 3.28 billion in 2023. The market is expected to register a CAGR of 5.5 % in 2023–2031. The oilfield communications market is growing due to increased investments in network infrastructure, increased demand from oil and gas operators to scale production, and advancements in communication technology.

Oilfield Communications Market Analysis

Rising technical improvements in oilfield communication are expected to drive market growth in the future years. Furthermore, an increase in demand for high-bandwidth communication solutions, as well as the industry's desire and efforts to improve upstream assets, are expected to drive the market throughout the projection period. Increasing demand for cloud-based services, combined with a growing emphasis on the adoption of effective communication technology, will aggravate the demand for oil field communications. Rising investments in network infrastructure, as well as the growth and expansion of the oil and gas industry, will open up more attractive growth potential for the oil field communications market.

Oilfield Communications Market Overview

Oilfield communication refers to communication systems that are implemented with the primary goal of providing support or assistance to various oil and gas companies that may require information for oil exploration, production processes, reporting technology, automation, and other processes. The oilfield communication market is being driven by the exponential growth and widespread acceptance of cutting-edge technologies such as artificial intelligence, machine learning, cognitive intelligence, and cloud, as well as increased investment in network infrastructure, as dependable hardware is required for mission-critical activities in the oilfields that rely on consistent communication.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Oilfield Communications Market: Strategic Insights

Oilfield Communications Market

• 
  CAGR (2023 - 2031)

  5.5 %
• Market Size 2023
  US$ 3.28 Billion
• Market Size 2031
  US$ 5.04 Billion

Market Dynamics

GROWTH DRIVERS

• Increased Investment in Improving Network Infrastructure

FUTURE TRENDS

• Adoption of cloud based services

OPPORTUNITIES

• 5G plays a crucial role in the digitalization of oilfield communications.

Key Players

• ABB Ltd
• Airspan Networks Inc
• Baker Huges Incorporated
• Ceragon Networks Ltd
• Commscope Holding Company Inc
• Commtel Networks Pvt Ltd
• Huawei Technologies Co Ltd
• Hughes Network Systems LLC
• Inmarsat plc
• Rad Data Communications

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Service

• Managed Services
• Professional Services

Communication Network Technology

• Tetra Network
• Fiber-Optic based Communication Network
• Microwave Communication Network
• Cellular Communication Network
• VSAT Communication Network

Field Sit

• Onshore Communications
• Offshore Communications

Solution

• Midstream Communication Solutions
• Downstream Communication Solutions
• Upstream Communication Solutions

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Oilfield Communications Market Drivers and Opportunities

Increased Investment in Improving Network Infrastructure to Favor the Market

For decades, the oil and gas industry has used its own telecommunications networks. These privately owned and managed networks oversee daily operations and coordinate emergency services during crises. Modern mission-critical networks face two challenges. First, there is a need for modernization. Real-time data, sophisticated control and monitoring, and high-level security require infrastructure that exceeds the capabilities of narrowband networks. Second, there is a requirement to ensure quality communication. Oil and gas field communications require high-capacity wireless networks that can function in harsh environments.

5G plays a crucial role in the digitalization of oilfield communications.

The oil and gas Industry can benefit from private Long-Term Evolution (LTE) and 5G networks due to the fast acceptance of 4G wireless technology and evolving 5G standards for industrial use cases. The oil and gas industry's ambitions for 5G adoption remain uncertain. 5G technology is expected to provide a significant competitive edge for oil and gas companies in the future. Oil E&P companies are prioritizing efficiency and agility, leading to ambitious digital efforts. 5G offers benefits in the oil and gas industry, including Ultra-Reliable latency communication (URLLC) and Machine Type Communication (MMTC).

Oilfield Communications Market Report Segmentation Analysis

Key segments that contributed to the derivation of the oilfield communications market analysis are service, communication network technology, field sit, and solution.

• Based on service, the oilfield communications market is segmented into managed services and professional services.
• Based on communication network technology, the oilfield communications market is segmented into tetra network, fiber-optic based communication network, microwave communication network, cellular communication network, and VSAT communication network.
• Based on field sit, the oilfield communications market is segmented into onshore communications and offshore communications.
• In terms of solutions, the market is segmented into midstream communication solutions, downstream communication solutions, and upstream communication solutions.

Oilfield Communications Market Share Analysis by Geography

The geographic scope of the oilfield communications market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America firms are looking for cutting-edge digital communication solutions for their onshore and offshore fields. Many oil-producing enterprises have their headquarters in the US. Most businesses test new services in their own country before launching them internationally. This country's rapid adoption of new technologies, as well as its expanding emphasis on worldwide communication, propel the market forward.

Oilfield Communications Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Oilfield Communications Market News and Recent Developments

The oilfield communications market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In May 2022, Ericsson and Tampnet collaborated to handle IoT connections for offshore businesses. Modern sensors and remote monitoring technologies may be installed on people and objects in a variety of remote offshore use cases and connected in real-time thanks to the Ericsson IoT Accelerator's management capabilities.

(Source: Ericsson, Company Website, 2022)

• In December 2022, DeepOcean and Akvaplan-Niva worked together to assess the environmental impact of offshore wind and oil and gas developments using remotely operated vehicles (ROVs) and uncrewed glider vehicles (USVs).

(Source: DeepOcean, Company Website, 2023)

Oilfield Communications Market Report Coverage and Deliverables

The "Oilfield Communications Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles