Oilfield Drilling Optimization Systems

The Oilfield Drilling Optimization System market research report delivers current market analysis plus a five-year market and technology forecast.  This report provides a concise analysis of the conventional automation and digital technology oilfield drilling optimization systems market segments.  The scope of the research is primarily on the upstream oil & gas exploratory and development drilling optimization opportunity.  The study is available in multiple editions including worldwide, all regions, and most major countries.  

Oilfield Drilling System Optimization Improves Drilling Performance

Companies face continued challenges to drill more wells to offset growing decline rates, drill more wells with increasing complexity, improve time to first oil, increase rate of penetration, lower drilling related costs, lower oil extraction and refinement costs, reduce manufacturing operating expenses, and increase return on investment in order to compete in the global market.  Optimizing oilfield drilling system performance and key operational metrics can play a critical role in helping companies realize operational excellence and improve profitability. ARC analysis shows a migration towards new digital technologies at the expense of more conventional automation drilling systems.

The oilfield drilling optimization systems market, including software (bundled with hardware modules) and services, is somewhat dynamic with the digital technology segment experiencing strong product innovation and growth.  This market has tremendous opportunities with steady growth driven by drilling a growing number of unconventional wells which are exhibiting greater decline rates, and wells which require more complex drilling approaches to reach maximum estimated ultimate recovery (EUR).  These oilfield drilling optimization solutions provide new features and functionality necessary to increase ROP and time to first oil by leveraging smart sensors and AI and machine learning based on industrial IoT.

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.  The implementation and execution of oilfield drilling optimization solutions and services helps improve knowing not only where (wellbore placement) and what (formation evaluation) you are drilling but also how you are drilling, which is mainly driven by the integration between the operator and the drilling service company.

Actionable Information on Oilfield Drilling Optimization Market

Oilfield Drilling Optimization Market TrendsTIn addition to providing a five-year market forecast, the Oilfield Drilling Optimization market research report provides detailed quantitative current market data and addresses key strategic issues for both suppliers and potential buyers of these systems.

Price Volatility and Challenging Market Dynamics Mandate Oilfield Drilling Optimization

In today’s environment of price pressures. increased well complexity, higher drilling costs, and tremendous growth in data, optimizing drilling in real time is an imperative.  The drilling optimization process begins with data collected in real time at the rig site, then drilling parameters are monitored, the thresholds are verified, and operators get alerts regarding unexpected trend changes from surface or downhole parameters.  This allows users to optimize drilling and prevent any potential problems. Investing in oilfield drilling optimization systems across all six conventional drilling optimization system types and seven digital system types covered has benefited most users, but the demand for each type is shifting.    

Impact of COVID-19 Pandemic Felt in 2020, Recovery Seen in 2021

While the COVID-19 pandemic did not impact the 2019 demand for oilfield drilling optimization systems, the market projections do take into account industry trends with our best estimates for how the COVID-19 pandemic will impact the oilfield drilling optimization systems market in different project locations and regions.  

Oilfield Drilling Optimization Systems Study Formats and Editions Available

This market study may be purchased as an Excel Workbook and/or as a PDF File.  The Workbook has some unique features such as the ability to view data in local currency.  Regional studies include country and industry market data.  Country studies include market trends and industry data.  Studies and formats available are listed below:

MIRA Workbook PDF File
Worldwide (includes regional data) Yes Yes
North America (includes country data) Yes No
Latin America (includes country data) Yes No
Europe, Middle East, Africa (includes country data) Yes No
Asia (includes country data) Yes No
Country Profiles (includes Country Data) No Yes

Countries included in each region.

Table of contents for these studies is shown in the following paragraphs.

Worldwide Research Focus Areas

Strategic Analysis

  • Major Trends
  • Regional Trends
  • Application Trends
  • Strategies for Success

Competitive Analysis

  • Market Shares of the Leading Suppliers
  • Market Shares by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Market Shares by Software and Services
  • Market Shares by Project Location
    • Offshore
    • Onshore
    • Subsea
  • Market Shares by Deployment Model
    • Cloud
    • Hybrid
    • On-Premise
  • Market Shares by Technology Type
    • Conventional Automation
    • Digital Technologies
  • Market Shares by Conventional System Type
    • BHA Optimization System
    • Under Balanced Drilling (UBD)
    • Managed Pressure Drilling (MPD)
    • MWD/LWD
    • Drilling Fluids Control
    • Other Conventional Systems
  • Market Shares by Digital System Type
    • BHA Optimization System
    • Managed Pressure Drilling (MPD)
    • MWD/LWD
    • Real-Time Data Visualization/AI
    • ROP Optimization
    • Under Balanced Drilling (UBD)
    • Other Digital Systems
  • Market Shares by Conventional Application
    • BHA Design
    • Directional Drilling
    • Drilling Vibrations Reduction
    • Drill String Stress & Deflection Analysis
    • Hydraulic Calculation & Modelling
    • MWD / LWD
    • Top Drive Automation
    • Torque and Drag Optimization
    • Tripping / Stuck Pipe
    • Wellbore Trajectory Analysis
    • Other Conventional Applications
  • Market Shares by Digital Application
    • Directional Drilling Optimization
    • Drilling Vibrations Reduction
    • MWD/LWD Optimization
    • Real-Time Data Visualization/AI
    • Torque and Drag Optimization
    • Tripping / Stuck Pipe
    • Wellbore Trajectory Analysis
    • Other Digital Applications
  • Market Shares by Sales Channel
  • Market Shares by Customer Type

Market Forecasts 

  • Total Oilfield Drilling Optimization Systems Business
  • Shipments by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Shipments by Software and Services
  • Shipments by Project Location
    • Offshore
    • Onshore
    • Subsea
  • Shipments by Deployment Model
    • Cloud
    • Hybrid
    • On-Premise
  • Shipments by Technology Type
    • Conventional Automation
    • Digital Technologies
  • Shipments by Conventional System Type
    • BHA Optimization System
    • Under Balanced Drilling (UBD)
    • Managed Pressure Drilling (MPD)
    • MWD/LWD
    • Drilling Fluids Control
    • Other Conventional Systems
  • Shipments by Digital System Type
    • BHA Optimization System
    • Managed Pressure Drilling (MPD)
    • MWD/LWD
    • Real-Time Data Visualization/AI
    • ROP Optimization
    • Under Balanced Drilling (UBD)
    • Other Digital Systems
  • Shipments by Conventional Application
    • BHA Design
    • Directional Drilling
    • Drilling Vibrations Reduction
    • Drill String Stress & Deflection Analysis
    • Hydraulic Calculation & Modelling
    • MWD / LWD
    • Top Drive Automation
    • Torque and Drag Optimization
    • Tripping / Stuck Pipe
    • Wellbore Trajectory Analysis
    • Other Conventional Applications
  • Shipments by Digital Application
    • Directional Drilling Optimization
    • Drilling Vibrations Reduction
    • MWD/LWD Optimization
    • Real-Time Data Visualization/AI
    • Torque and Drag Optimization
    • Tripping / Stuck Pipe
    • Wellbore Trajectory Analysis
    • Other Digital Applications
  • Shipments by Sales Channel
  • Shipments by Customer Type

Industry Participants

The research identifies all relevant suppliers serving this market.

Regional Research Focus Areas

Strategic Analysis

Scope

Competitive Analysis

  • Leading Suppliers in Region
  • Industry Shares in Region
  • Country Shares in Region
  • Leading Suppliers by Industry

Market Forecast Analysis

  • Market Forecast by Country
  • Market Forecast by Industry

Industry Participants

List of countries and currencies included in each region

Country Research Focus Areas

Contact us for the countries available for this study.

For More Information

For more information or to purchase the Oilfield Drilling Optimization Systems Market Research study, please contact us.