Press Release

There is a rising necessity for reliable and high-speed communications technology in both onshore as well as offshore locations. Steadfast communication is required for supporting mission-critical operations in the oilfields. It is also required that the infrastructure supports the welfare of the crew, thereby enabling the workers in accessing the desired internet services. Satellite connectivity plays a vital role in remote environments. It is used both as a primary communication source and as an independent link for back-up for the sites that are deployed terrestrial connectivity. The emergence of satellites with high throughput help in extending automation to all the operations in the filed including supply, remote maintenance, live data processing, and decision making. Furthermore, the advancements in voice and HD video capabilities are projected to propel the oilfield communications market over the forecast period.

The global oilfield communications market was valued at US$ 3.50 Bn in 2018 and is expected to reach US$ 6.81 Bn by 2026 with a CAGR growth rate of 8.74% in the forecast period from 2019 to 2026.

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Geographically, the oilfield communication market is segmented into North America, APAC, Europe, MEA, and SAM regions. North America leads the oilfield communication market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. Increase in technological developments paired with shale exploration activities in the region is fueling the oilfield communication market in North America. The Middle East is the second largest market in the oilfield communication market.

Top Key Vendors: 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, RigNet, Inc., Speedcast International Limited, Tait Communications, Nokia Corporation (Alcatel-Lucent), and Siemens AG.

Apart from North America and the Middle East, APAC remains the third largest geographic segment, as with the support of the government in funding in Asian countries, the market for oilfield communication in APAC is progressing. Moreover, on a continuous basis, the oil & gas industry of Asia is growing driven by rising demand and investment activities which makes the region to observe a high number of oil & gas projects.

Increasing concerns related to cybersecurity

Ongoing issues related to cyber-attacks is causing severe threat to the oil & gas industry, which is restricting the growth of oilfield communications market. It is estimated that more than 30% of the cyber-attacks that were witnessed by the critical infrastructure are targeted towards the energy firms (ranks second after Government sector). Further, cyber-attacks can cost the oil & gas business to an average of $1.9 billion. Addressing the issues related to cybersecurity in the oil and gas industry is complicated. There are several aspects to cybersecurity that need equal urgent revival as the supply chain links become vulnerable to the attacks owing to digitization in the oilfield.

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Service Insights

The global oilfield communications market by service is segmented into managed service and professional service. Professional Service segment dominates the oilfield communications market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2026. Professional services are majorly meant for specific and one-time projects that have a fixed end date. Professional service providers focus on every detail of the project starting from idea brainstorming to project planning and to final implementation.

GLOBAL OILFIELD COMMUNICATIONS MARKET SEGMENTATION

Global Oilfield communications Market – By Services

  • Managed Services
  • Professional Services

Global Oilfield communications Market – By Communication Network Technologies

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

Global Oilfield communications Market – By Field Site

  • Onshore Communications
  • Offshore Communications

Global Oilfield communications Market – By Solution

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

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This post was originally published on The Picayune Current