Smart Well Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
|
A07355
|
Pages: NA
|
Sep 2020 |
29 Views
|
|
|
|
Author(s) :
NA
|
Tables: NA
|
Charts: NA
|
Formats*:
|
|
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Smart Well Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
Request Now !Smart Well Market Outlook - 2027
Smart well is referred to an advanced well equipped with sensors and valves to optimize the overall production and increase the oil recovery. It helps to control the pressure, rates down-hole, and can be controlled remotely without the use of coiled tubing. Increase in exploration and drilling activities is expected to boost the market growth for smart well over the forecast years. Smart wells play an important role to support the financial stability along with increased efficiency in drilling activities by providing necessary reading and reservoir characteristics. Many oil & gas companies use smart well technologies, such as pressure transmitter, in-well monitoring systems, and sensors, to increase the overall production efficiency. Furthermore, smart well provides real-time readings, which prevent accidents in drilling operations. Moreover, oil sources are depleting at a faster rate, resulting in increased prices of oil. This has made various energy companies to adopt smart well to extract oil from new sources and increase oil recovery. The increase in demand for oil & gas across the globe is the primary factor that is expected to propel the smart well market during the forecast period.
Market scope and structure analysis:
|
          Report Metric |
                    Details |
|
 Market size available for years |
 2019–2027 |
|
 Base year considered |
 2019 |
|
 Forecast period |
 2020–2027 |
|
 Forecast unit |
 Value (USD) |
|
 Segments covered |
 Type, Application |
|
 Regions covered |
North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
|
 Companies covered |
Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Weatherford International, Statoil, Salym Petroleum, Woodside Energy, Emerson Process Management, INTECH Process Automation, Nabors Completion & Production Services, and RPC Inc. |
Â
By Type
- Hardware
- Software
By Application
- Onshore
- Offshore
COVID-19 scenario analysis
The rapid spread of the virus has made many industries to back off from the market due to low demand. Oil prices have fallen drastically over the past few months. The worldwide lockdown has suspended the mobility of public, thus reducing the demand for the transportation industry. The travel ban has reduced the consumption of fuel across the globe. The decrease in demand for oil has resulted in reduced demand for smart well. Moreover, disruptions in the supply chain and lack of manpower during this time of crisis are further expected to reduce the demand for smart well over the forecast period.
Market scenario analysis
Increase in drilling activities in the offshore sector and rise in demand for oil & gas are expected to boost the demand for oil well over the forecast period. Technological advancements and innovations in smart well are expected to enhance the efficiency of sensors and other equipment, which improves the production and oil recovery. Increased demand for energy in developing economies has forced the government to increase the investments for the oil & gas industry. Therefore, this is also expected to propel the demand for smart well in the future. Moreover, development in exploration and drilling activities further boosts the market growth. However, fluctuation in oil price is expected to hinder the market growth over the forecast period.
Market trends
One of the ongoing trends that drive the market is the ultra-deep-water explorations to extract oil & gas from new sources. Adoption of smart well helps many companies to extract oil from the offshore sector with increased efficiency and oil recovery.
Another trend followed is the digitalization of the oil & gas industry. Fall in oil prices had created many losses for major companies and they are shifting toward new technologies to increase the efficiency in production. The use of software, such as Drill net, is used to identify the irregularities in the equipment and can be resolved immediately. This technological advancement in the oil & gas industry is expected to boost the market growth of smart well over the forecast period.
Regional insights
On the basis of region, the global smart well market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is the market leader for smart well. This growth is due to increase in development in infrastructure and superior technological advancements in the region. Asia-Pacific is also expected to increase the demand over the forecast period; however, the region is growing at a moderate speed as it is a developing economy.
Key benefits of the report:
- This study presents the analytical depiction of the smart well market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the smart well market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the smart well market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.Â
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.Â
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through well audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of marketplace
With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
REQUEST TOC/SAMPLE
Purchase Full Report of
Smart Well Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
- Online Only
-
$3,456$3,110 - Online cloud access only
- Restricted print, copy, paste & download
- Read only
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Data Pack
-
$3,840$3,456 - Restricted to one authorized user
- One print only
- Available in
Excel - Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Single User
-
$5,769$5,192 - Restricted to one authorized user
- One print only
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Five Users
-
$6,450$5,805 - Limited to five authorized users
- Print upto five copies
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
-
Enterprise
License/PDF -
$8,995$8,096 - Unlimited
within
company/enterprise - Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
- Library Membership
- $ 699/mo
- Published Content
E-access - Company Profiles
E-access - Newly Added Content Access
- 10 PDF
Downloads - 5 Excel Data
Pack Downloads - 250 Company Profiles PDF Downloads
-
Start reading.
Buy Now
This title and over 12,000+ are available on the Avenue Library. Â T&C*.
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
Why Allied Market Research?
Infallible Methodology
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
Analyst Support
For complete satisfaction
Customization
On-demand customization of scope of the report to exactly meet your needs
TARGETED MARKET VIEW
Targeted market view to provide pertinent information and save time of readers
Get fresh content delivered
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.