According to the report titled ‘Asia Pacific Digital Oilfield Market Size By Process, By Service, By Application, By Technology, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027’, available with Market Study Report, Asia Pacific digital oilfield market is expected to register an appreciable growth rate through 2027.
 

Rising emphasis toward economic recovery, declining oil & gas production, and subsequent rise in demand for advanced digital technologies for efficiently managing oilfield operations while ensuring onsite personnel safety are catalyzing Asia Pacific digital oilfield market growth.
 

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Moreover, increasing production from deep sea sites together with real time site monitoring is positively impacting the business landscape. Escalating crude oil demand due to inflating population in developing nations, rise in exploration activities, favorable regulatory policies, and growing investments in upstream sector are the other major rationales stimulating Asia Pacific digital oilfield industry expansion. Besides, inflow of funds for R&D of advanced analytics services in this field is expanding the industry size.
 

Elaborating on the Covid-19 impact, lockdown measures imposed across several economies has disrupted operations in field services. However, gradual reopening of economies and companies planning to invest in advanced technological solutions will the set the industry in APAC on a strong growth path.
 

Based on process, Asia Pacific digital oilfield market is fragmented into reservoir optimization, production optimization, and drilling optimization. Among these, reservoir optimization is expected to witness strong gains in the upcoming years. Growing accessibility to advanced technological solutions, including reservoir planning, development planning and equipment management services are fueling the segment growth. Additionally, surge in installations of enhanced oil recovery (EOR) systems, followed by increase in number of aging oil wells will boost the segmental share.
 

In terms of technology, Asia Pacific digital oilfield industry is categorized into robotics, IoT, advanced analytics, mobility, cloud computing, and others. Utilization of artificial intelligence (AI) and machine learning (ML) in the upstream sector for confirming borehole integrity and reducing safety risks are the favoring the adoption of advanced analytics solutions in oil & gas sector. Also, robust advancement in data gathering and interpretation system to monitor several processes will boost the product adoption.
 

Moving to geographical outlook, India is expected to significantly contribute to Asia Pacific digital oilfield market growth in the upcoming years due to soaring energy demand and shifting trends toward digital advanced analytics in O&G sector. Other factors such as investments by both public and private companies in development of digitalized solutions, upcoming field development plans, proliferating industrial and commercial activities, and surging demand for petrochemical products are further contributing to the industry growth in India.
 

Prominent players in Asia Pacific digital oilfield industry sphere are Wipro Ltd., Cisco Systems, Inc., Katalyst Data Management, General Electric, Intel Corp., Honeywell International, Inc., Emerson Electric SE, Weatherford International plc, and Rockwell Automation, Inc. among others.