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 anticipated to garner lucrative returns by 2027.
 

Rising exploration & production activities, and increasing integration of smart technology are the primary growth catalysts for Middle East & Africa digital oilfield market. Also, introduction of subsidies and tax rebates for adoption of AI solutions is facilitating the industry scenario.
 

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Emergence of COVID-19 pandemic brought in sudden slump in economy and oil prices due to plummeted demand for fossil fuel. However, the outbreak also prompted oil & gas businesses to step up their digitization efforts in order to achieve new operational advantages. Automation, robotics, cloud computing, and data analytics, among other cutting-edge digital solutions, could be the blueprint for the future. Acceptance of digital solutions and advanced analytics, leading to high efficiency with cost-saving will augmenting the market outlook in the coming years.
 

On the basis of process, the drilling optimization segment is anticipated to gain traction over 2021-2027 with increased demand for remote monitoring and data collection at sea drilling sites, smart wells, and reservoir sites.
 

Whereas, reservoir optimization and production optimization segments of Middle East & Africa digital oilfield industry are also slated to generate returns over the forecast period. This can be credited to numerous gas fields in Angola, Nigeria, UAE, and Saudi Arabia, investments in enhanced oil recovery systems, and focus to improve production routine operations.
 

In terms of services, instrumentation & automation segment in Saudi Arabia market is projected to growth substantially through 2027, owing to emphasis on real-time data analysis and manufacturing efficiency. Companies in the oil & gas sector have increased their use of security systems, distributed control systems, smart wells, and SCADA.
 

With respect to technology, the marketplace is categorized into mobility, cloud computing, robotics, advance analytics, IoT, and others. In regards with application scope, the market is split into offshore and onshore.
 

Regionally speaking, Saudi Arabia industry size is touted to display impressive growth trends during 2021 and 2027, on account of surge in offshore and exploration activities backed by private sector investments, along with adoption of cloud computing, advances analytics, and IOT by renowned players for business agility and optimized performance.
 

The major players in Middle East & Africa digital oilfield market are Schlumberger Limited, Kuwait Oil Company, Sinopec Oilfield Service Corporation, Honeywell International Inc., SIEMENS Oil Gas & Marine, Weatherford International plc, Baker Hughes Company, Halliburton Company, and Accenture plc.