New ARC Advisory Group research on the oilfield drilling optimization systems market reveals that oil and gas operators are increasingly getting involved in the digitalization process to enhance operational efficiency and minimize the cost of oilfield drilling and extraction. Other benefits of optimizing drilling processes include reduced drilling risk, greater certainty, enhanced safety, and better control of future drilling events.
“The last few years have seen an upsurge of new digital drilling technologies being deployed, with methods from different disciplines being used to enhance oilfield drilling. Communication and software technologies, smart downhole sensing, and AI and machine learning are the most critical disciplines that can help optimize drilling. Continuing innovations in sensor instrumentation, embedded advanced control algorithms, and predictive condition monitoring on rotating equipment are all critical to the future of the smarter drilling systems that will become integrated within the growing digital technologies infrastructure. This dynamic shift was the reason ARC created different segments for conventional automation and digital technologies in our market research,” according to Tim Shea, Senior Analyst, ARC Advisory Group and key author of ARC’s Oilfield Drilling Optimization Systems Global Market Research report.
About the Oilfield Drilling Optimization Systems Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the oilfield drilling optimization systems market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts by technology type, conventional and digital system type, project location, conventional and digital applications, revenue category, deployment model, sales channels, and customers.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) - personalized spreadsheet includes the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.