This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The connected oilfield market size has grown strongly in recent years. It will grow from $26.5 billion in 2024 to $28.31 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to evolution of communication networks, adoption of supervisory control and data acquisition (SCADA) systems, growth of data analytics, safety and risk management, energy transition.
The connected oilfield market size is expected to see strong growth in the next few years. It will grow to $34.9 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to demand for operational efficiency, data-driven decision making, regulatory compliance, remote workforce management, supply chain optimization. Major trends in the forecast period include integration of digital twins, enhanced cybersecurity measures, remote operations optimization, hybrid connectivity solutions.
The increasing activities in oil and gas exploration are anticipated to drive the growth of the connected oilfield market in the future. Oil and gas exploration involves the systematic search for underground deposits of oil and natural gas resources. This process is essential for enhancing the connected oilfield as it supplies crucial data to optimize oil recovery and operational efficiency. Improved data analysis, software, and technology in exploration efforts contribute to enhanced oil recovery from the seabed. For example, the U.S. Energy Information Administration (EIA) reported that in 2023, U.S. crude oil production, including condensate, averaged 12.9 million barrels per day (b/d), surpassing the previous U.S. and global record of 12.3 million b/d set in 2019. Additionally, December 2023 saw a monthly record high in U.S. crude oil production, exceeding 13.3 million b/d. Meanwhile, Saudi Arabia's average annual production reached a peak of 10.6 million b/d in 2022, which was 1.3 million b/d lower than that of the United States that year. Thus, the rise in oil and gas exploration activities is significantly contributing to the growth of the connected oilfield market.
Key players in the connected oilfield sector are channeling their efforts towards developing innovative solutions, such as upstream digital oilfield solutions, to drive operational excellence, enhance profitability, and uphold competitiveness in the rapidly evolving market landscape. Upstream digital oilfield solutions comprise advanced technological tools and systems tailored to optimize operations in the upstream segment of the oil and gas industry, encompassing exploration and production activities. For instance, in June 2022, mCloud Technologies Corp., a U.S.-based software company, unveiled its AssetCare digital oilfield solutions in the United States. Leveraging AI technology, mCloud's solutions continuously optimize operations to enhance efficiency and performance across the oil and gas sector. These cloud-based AI solutions automate production management, facilitate ongoing optimization of wellsite performance, and enable predictive maintenance initiatives. This strategic initiative underscores the company's commitment to harnessing advanced digital technologies to streamline operations and maximize productivity in the upstream oilfield sector, signaling a significant advancement in the realm of connected oilfield solutions.
In February 2022, NextMart Inc., a prominent US-based oilfield service business, successfully acquired Defender Contracting LLC for an undisclosed amount. This strategic acquisition is geared towards reinforcing NextMart's presence in the competitive oilfield services market, with a specific focus on the Permian Basin. The move is expected to yield multiple benefits, including increased operational capacity, an expanded service portfolio, strategic geographical positioning, utilization of an experienced workforce, and overall support for NextMart's broader acquisition strategy. Defender Contracting LLC, also based in the United States, specializes in providing connected oilfield services, encompassing bulk oil transportation and environmental services.
Major companies operating in the connected oilfield market are China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc, TotalEnergies SE, Chevron Corporation, BP plc, GAZPROM PAO, Equinor ASA, Ente Nazionale Idrocarburi Società per Azioni., ConocoPhillips, Repsol SA, Occidental Petroleum Corporation, PJSC Lukoil, Schlumberger Limited, Pioneer Natural Resources, Baker Hughes Company, Kinder Morgan Inc., Devon Energy, Woodside Petroleum, Enbridge Inc., Hess Corporation, TC Energy Corporation, Apache Corporation, Rosneft Oil Company, Marathon Oil Corporation.
North America was the largest region in the connected oilfield market in 2024. The regions covered in the connected oilfield market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the connected oilfield market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The connected oilfields market consists of revenues earned by entities by providing services such as real-time monitoring, predictive maintenance, remote operations, data analytics, asset optimization, environmental monitoring, and safety management. The market value includes the value of related goods sold by the service provider or included within the service offering. The connected oilfields market also includes sales of communication devices, remote monitoring systems, predictive maintenance tools, environmental monitoring equipment, safety management solutions, and integrated control systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
A connected oilfield is a solution that utilizes information and communications technology (ICT), digital technologies, and communication networks within oilfield operations to enhance efficiency, productivity, safety, and decision-making processes. Its aim is to improve oil recovery from the seabed by employing advanced data analysis and software tools.
The primary types of solutions in connected oilfields include hardware, software, services, and data storage solutions. Hardware encompasses the physical components of computer systems or electronic devices involved in processes such as reservoir management, production optimization, drilling operations, and safety management. These solutions find applications in both onshore and offshore oilfield environments.
The connected oilfield market research report is one of a series of new reports that provides connected oilfield market statistics, including connected oilfield industry global market size, regional shares, competitors with a connected oilfield market share, detailed connected oilfield market segments, market trends and opportunities, and any further data you may need to thrive in the connected oilfield industry. This connected oilfield market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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The connected oilfield market size has grown strongly in recent years. It will grow from $26.5 billion in 2024 to $28.31 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to evolution of communication networks, adoption of supervisory control and data acquisition (SCADA) systems, growth of data analytics, safety and risk management, energy transition.
The connected oilfield market size is expected to see strong growth in the next few years. It will grow to $34.9 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to demand for operational efficiency, data-driven decision making, regulatory compliance, remote workforce management, supply chain optimization. Major trends in the forecast period include integration of digital twins, enhanced cybersecurity measures, remote operations optimization, hybrid connectivity solutions.
The increasing activities in oil and gas exploration are anticipated to drive the growth of the connected oilfield market in the future. Oil and gas exploration involves the systematic search for underground deposits of oil and natural gas resources. This process is essential for enhancing the connected oilfield as it supplies crucial data to optimize oil recovery and operational efficiency. Improved data analysis, software, and technology in exploration efforts contribute to enhanced oil recovery from the seabed. For example, the U.S. Energy Information Administration (EIA) reported that in 2023, U.S. crude oil production, including condensate, averaged 12.9 million barrels per day (b/d), surpassing the previous U.S. and global record of 12.3 million b/d set in 2019. Additionally, December 2023 saw a monthly record high in U.S. crude oil production, exceeding 13.3 million b/d. Meanwhile, Saudi Arabia's average annual production reached a peak of 10.6 million b/d in 2022, which was 1.3 million b/d lower than that of the United States that year. Thus, the rise in oil and gas exploration activities is significantly contributing to the growth of the connected oilfield market.
Key players in the connected oilfield sector are channeling their efforts towards developing innovative solutions, such as upstream digital oilfield solutions, to drive operational excellence, enhance profitability, and uphold competitiveness in the rapidly evolving market landscape. Upstream digital oilfield solutions comprise advanced technological tools and systems tailored to optimize operations in the upstream segment of the oil and gas industry, encompassing exploration and production activities. For instance, in June 2022, mCloud Technologies Corp., a U.S.-based software company, unveiled its AssetCare digital oilfield solutions in the United States. Leveraging AI technology, mCloud's solutions continuously optimize operations to enhance efficiency and performance across the oil and gas sector. These cloud-based AI solutions automate production management, facilitate ongoing optimization of wellsite performance, and enable predictive maintenance initiatives. This strategic initiative underscores the company's commitment to harnessing advanced digital technologies to streamline operations and maximize productivity in the upstream oilfield sector, signaling a significant advancement in the realm of connected oilfield solutions.
In February 2022, NextMart Inc., a prominent US-based oilfield service business, successfully acquired Defender Contracting LLC for an undisclosed amount. This strategic acquisition is geared towards reinforcing NextMart's presence in the competitive oilfield services market, with a specific focus on the Permian Basin. The move is expected to yield multiple benefits, including increased operational capacity, an expanded service portfolio, strategic geographical positioning, utilization of an experienced workforce, and overall support for NextMart's broader acquisition strategy. Defender Contracting LLC, also based in the United States, specializes in providing connected oilfield services, encompassing bulk oil transportation and environmental services.
Major companies operating in the connected oilfield market are China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc, TotalEnergies SE, Chevron Corporation, BP plc, GAZPROM PAO, Equinor ASA, Ente Nazionale Idrocarburi Società per Azioni., ConocoPhillips, Repsol SA, Occidental Petroleum Corporation, PJSC Lukoil, Schlumberger Limited, Pioneer Natural Resources, Baker Hughes Company, Kinder Morgan Inc., Devon Energy, Woodside Petroleum, Enbridge Inc., Hess Corporation, TC Energy Corporation, Apache Corporation, Rosneft Oil Company, Marathon Oil Corporation.
North America was the largest region in the connected oilfield market in 2024. The regions covered in the connected oilfield market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the connected oilfield market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The connected oilfields market consists of revenues earned by entities by providing services such as real-time monitoring, predictive maintenance, remote operations, data analytics, asset optimization, environmental monitoring, and safety management. The market value includes the value of related goods sold by the service provider or included within the service offering. The connected oilfields market also includes sales of communication devices, remote monitoring systems, predictive maintenance tools, environmental monitoring equipment, safety management solutions, and integrated control systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
A connected oilfield is a solution that utilizes information and communications technology (ICT), digital technologies, and communication networks within oilfield operations to enhance efficiency, productivity, safety, and decision-making processes. Its aim is to improve oil recovery from the seabed by employing advanced data analysis and software tools.
The primary types of solutions in connected oilfields include hardware, software, services, and data storage solutions. Hardware encompasses the physical components of computer systems or electronic devices involved in processes such as reservoir management, production optimization, drilling operations, and safety management. These solutions find applications in both onshore and offshore oilfield environments.
The connected oilfield market research report is one of a series of new reports that provides connected oilfield market statistics, including connected oilfield industry global market size, regional shares, competitors with a connected oilfield market share, detailed connected oilfield market segments, market trends and opportunities, and any further data you may need to thrive in the connected oilfield industry. This connected oilfield market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Connected Oilfield Market Characteristics3. Connected Oilfield Market Trends and Strategies4. Connected Oilfield Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, Covid and Recovery on the Market32. Global Connected Oilfield Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Connected Oilfield Market34. Recent Developments in the Connected Oilfield Market
5. Global Connected Oilfield Growth Analysis and Strategic Analysis Framework
6. Connected Oilfield Market Segmentation
7. Connected Oilfield Market Regional and Country Analysis
8. Asia-Pacific Connected Oilfield Market
9. China Connected Oilfield Market
10. India Connected Oilfield Market
11. Japan Connected Oilfield Market
12. Australia Connected Oilfield Market
13. Indonesia Connected Oilfield Market
14. South Korea Connected Oilfield Market
15. Western Europe Connected Oilfield Market
16. UK Connected Oilfield Market
17. Germany Connected Oilfield Market
18. France Connected Oilfield Market
19. Italy Connected Oilfield Market
20. Spain Connected Oilfield Market
21. Eastern Europe Connected Oilfield Market
22. Russia Connected Oilfield Market
23. North America Connected Oilfield Market
24. USA Connected Oilfield Market
25. Canada Connected Oilfield Market
26. South America Connected Oilfield Market
27. Brazil Connected Oilfield Market
28. Middle East Connected Oilfield Market
29. Africa Connected Oilfield Market
30. Connected Oilfield Market Competitive Landscape and Company Profiles
31. Connected Oilfield Market Other Major and Innovative Companies
35. Connected Oilfield Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Connected Oilfield Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on connected oilfield market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for connected oilfield? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The connected oilfield market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Solution: Hardware; Software And Service; Data Storage Solutions2) By Processes: Reservoir; Production; Drilling Optimizations; Safety Management
3) By Application: On Shore; Off Shore
Subsegments:
1) By Hardware: Sensors; Actuators; Communication Equipment; Remote Monitoring Devices; Other Hardware Components2) By Software And Service: Data Analytics Software; Asset Management Software; Visualization Software; Monitoring And Control Software; Other Software Solutions; Consulting Services; Integration Services; Maintenance And Support Services; Managed Services
3) By Data Storage Solutions: Cloud Storage; On-Premises Storage; Hybrid Storage Solutions
Key Companies Mentioned: China Petroleum & Chemical Corporation; Exxon Mobil Corporation; Royal Dutch Shell plc; TotalEnergies SE; Chevron Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Connected Oilfield market report include:- China Petroleum & Chemical Corporation
- Exxon Mobil Corporation
- Royal Dutch Shell plc
- TotalEnergies SE
- Chevron Corporation
- BP plc
- GAZPROM PAO
- Equinor ASA
- Ente Nazionale Idrocarburi Società per Azioni.
- ConocoPhillips
- Repsol SA
- Occidental Petroleum Corporation
- PJSC Lukoil
- Schlumberger Limited
- Pioneer Natural Resources
- Baker Hughes Company
- Kinder Morgan Inc.
- Devon Energy
- Woodside Petroleum
- Enbridge Inc.
- Hess Corporation
- TC Energy Corporation
- Apache Corporation
- Rosneft Oil Company
- Marathon Oil Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 28.31 Billion |
| Forecasted Market Value ( USD | $ 34.9 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
