According to the research report titled ‘Middle East & Africa Digital Oilfield Market Forecast 2027 By Technology, By Process, By Service, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Middle East & Africa digital oilfield market is expected to grow at a substantial rate through 2027.

The determinants contributing to the substantial growth of Middle East & Africa digital oilfield industry include a constant rise in exploration & production operations, incorporation of innovative & advanced technologies, and growing utilization of AI-based solutions to optimize the productivity of O&G (oil & gas) applications.

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On the flip side, the COVID-19 pandemic severely impacted the industry's progress in 2020, due to the economic recession and fall in oil prices. It also impeded the capital investment likelihood as well as investors' enthusiasm toward fossil fuels. 

The market segmentation by process comprises drilling optimization, reservoir optimization, production optimization, and others. Among all these segments, the drilling optimization segment is expected to gain significant traction through 2027, attributed to the increase in demand for remote monitoring systems, while adopting IoT and cloud-based solutions for data collection.

Parallelly, the reservoir optimization process segment is also estimated to contribute a substantial revenue share by 2027, owing to increasing investments to enhance oil recovery systems and AI technology to boost recovery rate with rising number gas fields in Nigeria, UAE, Angola, and Saudi Arabia.

Based on the service type, Middle East & Africa digital oilfield market is bifurcated into information technology (IT outsourcing services, computer equipment & application hardware, software, others), and instrumentation & automation (SCADA, wireless systems, security systems, distributed control systems, smart wells). Herein, the instrumentation & automation segment is expected to witness notable growth through 2027, due to the elevated recovery rates because of advancements in technologies, alongside widespread cognizance of real-time production efficiency and data analysis.

Moving on to technology terrain, the market is bifurcated into mobility, robotics, IoT, cloud computing, advanced analytics, and others.

Witnessing the regional landscape, Saudi Arabia digital oilfield industry is anticipated to generate significant revenues by 2027, due to the expansion of offshore drilling activities, and booming exploration operations.

Speaking of the competitive landscape, corporations such as Accenture plc, Halliburton Co., Weatherford International plc, Honeywell International Inc., Schlumberger Limited, Baker Hughes Company, Siemens AG, Sinopec Oilfield Service Corporation, and Kuwait Oil Company are eminently contributing to the growth of Middle East & Africa digital oilfield market.