Global Smart Drilling Solutions Market size is expected to reach by 2026, at a CAGR of 5.88% during the forecast period.Global Smart Drilling Solutions Market Dynamics
Oil well drilling activities to drive the market
The demand for crude oil has been increasing due to the increasing number of vehicles, which led countries to increase oil well drilling activities is the major growth driver of the smart drilling solutions market. The growing demand for crude oil is closely associated with the increase in drilling and workover costs while drilling in deep waters, horizontal, and directional drilling. According to the MMR report, global energy demand is estimated to increase 1.4 times and oil & gas contribution is expected to be 55% by 2030. However, with the increasing demand to reduce the drilling cost, many companies are adopting smart drilling solutions. Other factors like collecting real-time data, analyzing stratigraphic positions are expected to boost the market during the forecast period. The use of vertical, horizontal, and directional drilling technologies is expected to create many lucrative opportunities for smart drilling solutions. This technology is highly used to exploit deep geothermal energy and geo-resources and conduct international continental drilling programs.Focus on renewable energy to restrain the market
The price of fossil fuel has been increasing day by day due to the scarce availability worldwide. Many countries have started to utilize renewable energies due to the unlimited availability and low cost, which is expected to restrain the smart drilling solutions market throughout the forecast period.Global Smart Drilling Solutions Market Segment Analysis
To know about the Research Methodology :- Request Free Sample Report The on-premises solution is expected to witness the highest growth at a CAGR of XX% during the forecast period. The on-premises type is widely adopted by medium to large enterprises as they can modify the system as per the requirement of the business. The biggest reason behind the adoption of on-premises is the user can completely control the whole system and software and the privacy concern, which is expected to increase the demand for on-premises smart drilling solutions. However, the cloud solution is also expected to hold a significant market share due to the increasing adoption of cloud computing by various industries. It allows users to access the software anytime anywhere through digital devices such as laptops, tablets, smartphones, etc. with internet connectivity. The installation cost and maintenance of software are very low, the SMEs are prominent adopters of cloud-based solutions.
Global Smart Drilling Solutions Regional Insights
North America is expected to witness highest growth during forecast period
North America is expected to dominate the market throughout the forecast period due to the increasing oil well drilling activities in countries like the US. The region is known as a prompt adopter of advanced technologies. The oil & gas industries are widely adopting IoT, AI, and other innovative technologies for various applications. However, the global key players such as smart drilling solutions, TIBCO software, Schlumberger Software, etc. are based in the US, which is expected to boost the market in North America. The Asia Pacific is expected to hold a large market share of XX% by 2026. The increasing demand for crude oil has increased the oil well drilling activities in the region. According to the MMR report smart drilling tech is estimated to boost India’s well productivity by 30% and reduce the construction time by half. Further, the increasing investment of global key players in countries like India and China is expected to create many lucrative opportunities for the market in the Asia Pacific. For instance, a Russian company ZYFRA decided to enhance its presence in India to achieve the target of US$ 50 Million in deals. The objective of the report is to present a comprehensive analysis of the global Smart Drilling Solutions market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global Smart Drilling Solutions market dynamic, structure by analyzing the market segments and project global Smart Drilling Solutions market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global Smart Drilling Solutions market make the report investor’s guide.Global Smart Drilling Solutions Market scope: Inquire before buying
Global Smart Drilling Solutions Market, by region:
• North America • Europe • Asia-Pacific • South America • Middle East & AfricaGlobal Smart Drilling Solutions Market Key Players
• Geosteering Technologies • TIBCO Software Inc • MineExcellence • Schlumberger Software • Pegasus Vertex, Inc. • Compliance Technology Group, LLC • Promine Inc. • Maptek • Frontline Systems • Cessac Welding Service, Inc • Well Smart Drilling • Smart Drilling Solutions • Hughes • Halliburton • National Oilwell Varco • Dynamic Materials Corporation • AVAX Technologies, Inc. • Cephalon, Inc. • Biosyn, Inc. • Bachem Bioscience Inc. • Nabors • Aker Solutions • Acteon Group • MicroSeismic
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Smart Drilling Solutions Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Smart Drilling Solutions Market 3.4. Geographical Snapshot of the Smart Drilling Solutions Market, By Manufacturer share 4. Global Smart Drilling Solutions Market Overview, 2019-2026 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Smart Drilling Solutions Market 5. Supply Side and Demand Side Indicators 6. Global Smart Drilling Solutions Market Analysis and Forecast, 2019-2026 6.1. Global Smart Drilling Solutions Market Size & Y-o-Y Growth Analysis. 7. Global Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 7.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 7.1.1. Cloud 7.1.2. On-premises 7.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 7.2.1. Oil & gas 7.2.2. Mining 7.2.3. Others 8. Global Smart Drilling Solutions Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2019-2026 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 9.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 9.1.1. Cloud 9.1.2. On-premises 9.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 9.2.1. Oil & gas 9.2.2. Mining 9.2.3. Others 10. North America Smart Drilling Solutions Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 11.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 11.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 12. Canada Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 12.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 12.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 13. Mexico Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 13.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 13.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 14. Europe Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 14.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 14.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 15. Europe Smart Drilling Solutions Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 16.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 16.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 17. France Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 17.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 17.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 18. Germany Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 18.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 18.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 19. Italy Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 19.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 19.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 20. Spain Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 20.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 20.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 21. Sweden Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 21.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 21.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 22. CIS Countries Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 22.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 22.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 23. Rest of Europe Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 23.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 23.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 24. Asia Pacific Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 24.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 24.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 25. Asia Pacific Smart Drilling Solutions Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 26.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 26.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 27. India Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 27.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 27.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 28. Japan Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 28.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 28.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 29. South Korea Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 29.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 29.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 30. Australia Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 30.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 30.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 31. ASEAN Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 31.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 31.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 32. Rest of Asia Pacific Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 32.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 32.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 33. Middle East Africa Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 33.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 33.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 34. Middle East Africa Smart Drilling Solutions Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 35.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 35.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 36. GCC Countries Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 36.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 36.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 37. Egypt Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 37.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 37.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 38. Nigeria Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 38.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 38.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 39. Rest of ME&A Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 39.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 39.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 40. South America Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 40.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 40.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 41. South America Smart Drilling Solutions Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 42.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 42.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 43. Argentina Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 43.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 43.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 44. Rest of South America Smart Drilling Solutions Market Analysis and Forecasts, 2019-2026 44.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 44.2. Market Size (Value) Estimates & Forecast By Application, 2019-2026 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Smart Drilling Solutions Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Geosteering Technologies 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. TIBCO Software Inc 45.3.3. MineExcellence 45.3.4. Schlumberger Software 45.3.5. Pegasus Vertex, Inc. 45.3.6. Compliance Technology Group, LLC 45.3.7. Promine Inc. 45.3.8. Maptek 45.3.9. Frontline Systems 45.3.10. Cessac Welding Service, Inc 45.3.11. Well Smart Drilling 45.3.12. Smart Drilling Solutions 45.3.13. Hughes 45.3.14. Halliburton 45.3.15. National Oilwell Varco 45.3.16. Dynamic Materials Corporation 45.3.17. AVAX Technologies, Inc. 45.3.18. Cephalon, Inc. 45.3.19. Biosyn, Inc. 45.3.20. Bachem Bioscience Inc. 45.3.21. Nabors 45.3.22. Aker Solutions 45.3.23. Acteon Group 45.3.24. MicroSeismic 46. Primary Key Insights