Offshore Oil and Gas Communications Market by Application and Geography - Forecast and Analysis 2022-2026

The offshore oil and gas communications market share is expected to increase by USD 1.35 billion from 2021 to 2026, at a CAGR of 6.64%.

This offshore oil and gas communications market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers offshore oil and gas communications market segmentation by application (upstream, midstream, and downstream) and geography (North America, Middle East and Africa, APAC, South America, and Europe). The offshore oil and gas communications market report also offers information on several market vendors, including ABB Ltd., AT and T Inc., Baker Hughes Co., Ceragon Networks Ltd., CommScope Holding Co. Inc., Commtel Networks, EchoStar Corp., General Electric Co., Hitachi Ltd., Honeywell International Inc., Mostar Communications, PTC Inc., Redline Communications Group Inc., Siemens AG, Speedcast International Ltd., Tait International Ltd., Viasat Inc., Weatherford International Plc, Curtiss Wright Corp., and Huawei Investment and Holding Co. Ltd. among others.

What will the Offshore Oil and Gas Communications Market Size be During the Forecast Period?

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Offshore Oil and Gas Communications Market: Key Drivers, Trends, and Challenges

The increasing investments in enhancing network infrastructure is notably driving the offshore oil and gas communications market growth, although factors such as increasing cybersecurity risks may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the offshore oil and gas communications industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Offshore Oil and Gas Communications Market Driver

One of the key factors driving growth in the offshore oil and gas communications market is the increasing investments in enhancing network infrastructure. For decades, the oil and gas industry has relied on its own telecommunications networks. In times of crisis, these privately owned and maintained networks are utilized to handle day-to-day operations and coordinate emergency assistance. Many mission-critical networks nowadays face a two-fold dilemma. First and foremost, there is a need to modernize. Today's demands on infrastructure, such as real-time data, sophisticated control and monitoring closer to the network edge, and high-level security, surpass what narrowband networks can offer. The second point to consider is the need for good communication. Oil and gas field communications necessitate dependable, durable, and high-capacity wireless networks that can operate across broad areas and in harsh environments.

Key Offshore Oil and Gas Communications Market Trend

The digitalization of oilfield communications is another factor supporting the offshore oil and gas communications market share growth. The fast acceptance of 4G wireless communication technology and the evolution of 5G standards to accommodate industrial use cases will open up more options for the oil and gas industry to deploy private long-term evolution (LTE) and 5G networks. There is still a lot of uncertainty when it comes to 5G adoption plans in the oil and gas business. However, it is apparent that 5G will become a significant competitive advantage for oil and gas companies in the near future. Oil exploration and production (E and P) is becoming more efficient and agile, fueling ambitious digital projects in the E and P sector of the oil value chain. The benefits of 5G would include ultra-reliable low-latency communication (URLLC), massive machine type communication (MMTC), and enhanced Mobile Broadband (eMBB).

Key Offshore Oil and Gas Communications Market Challenge

The increasing cybersecurity risks will be a major challenge for the offshore oil and gas communications market during the forecast period. Because the industry uses connected technology such as the Internet of Things (IoT) and artificial intelligence (AI), cyber attackers have been targeting crude oil and gas businesses with sophisticated attacks for years. Distinct aspects of the oil and gas industry come with different risks and therefore different tactics. Development drilling and production have the highest cyber risk profiles among upstream operations, while seismic imaging has a lower risk profile. The increased requirement to digitize, eStore, and integrate seismic data into other disciplines could increase the company's risk profile in the future. Apart from its critical infrastructure classification, the upstream industry's sophisticated computation, networking, and physical operational procedures scattered throughout the globe make it extremely vulnerable to cyberattacks.

This offshore oil and gas communications market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global offshore oil and gas communication market as a part of the global communications equipment market within the overall global information technology sector. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the offshore oil and gas communications market during the forecast period.

Who are the Major Offshore Oil and Gas Communications Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• AT and T Inc.
• Baker Hughes Co.
• Ceragon Networks Ltd.
• CommScope Holding Co. Inc.
• Commtel Networks
• EchoStar Corp.
• General Electric Co.
• Hitachi Ltd.
• Honeywell International Inc.
• Mostar Communications
• PTC Inc.
• Redline Communications Group Inc.
• Siemens AG
• Speedcast International Ltd.
• Tait International Ltd.
• Viasat Inc.
• Weatherford International Plc
• Curtiss Wright Corp.
• Huawei Investment and Holding Co. Ltd.

 

This statistical study of the offshore oil and gas communications market encompasses successful business strategies deployed by the key vendors. The offshore oil and gas communications market is fragmented and the vendors are deploying growth strategies such as product and service innovation, as well as mergers and acquisitions to compete in the market.

Product Insights and News

• CommScope Holding Co. Inc. - The company offers offshore oil and gas communications services such as root cause analysis, revised protocols, training services.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The offshore oil and gas communications market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Offshore Oil and Gas Communications Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the offshore oil and gas communications market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Offshore Oil and Gas Communications Market?

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42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for offshore oil and gas communications in North America. Market growth in this region will be faster than the growth of the market in the European and South American regions.

The newly discovered shale resources in the US and an increasing number of oil and gas operations in Canada will facilitate the offshore oil and gas communications market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Businesses that provide oilfield communications solutions and services are projected to have a major drop in growth for a short period as a result of the global COVID-19 pandemic-induced lockdown. The oil and gas industry is also in a state of flux as a result of the ongoing oil price war. However, with the increased need for enterprises to shift their businesses to the work-from-home setup, owing to the pandemic, many offshore oil and gas communication vendors extended their commitment to business customers connected to the Internet during the COVID-19 crisis, which temporarily boosted the market growth.

What are the Revenue-generating Application Segments in the Offshore Oil and Gas Communications Market?

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The offshore oil and gas communications market share growth by the upstream segment will be significant during the forecast period. Improved upstream communication systems have permitted whole subsea advances and remote unmanned offshore sector tasks to be revolutionized by technological advancements. With more oil and gas projects being built worldwide, the upstream offshore oil and gas communications market segment is likely to increase.

This report provides an accurate prediction of the contribution of all the segments to the growth of the offshore oil and gas communications market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in:

Offshore Oil and Gas Seismic Equipment and Acquisitions market - The market share is expected to increase by USD 1.62 billion by 2026 at a CAGR of 7.13%.

Offshore Oil and Gas Pipeline market - The market size has the potential to grow by USD 2.79 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

Oil and Gas Engineering Services market - The market share is expected to increase by USD 4.38 billion from 2021 to 2026, at a CAGR of 7.2%.

Offshore Oil and Gas Communications Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 6.64%
Market growth 2022-2026	$ 1.35 billion
Market structure	Fragmented
YoY growth (%)	7.58
Regional analysis	North America, Middle East and Africa, APAC, South America, and Europe
Performing market contribution	North America at 42%
Key consumer countries	US, Canada, Kuwait, Saudi Arabia, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., AT and T Inc., Baker Hughes Co., Ceragon Networks Ltd., CommScope Holding Co. Inc., Commtel Networks, EchoStar Corp., General Electric Co., Hitachi Ltd., Honeywell International Inc., Mostar Communications, PTC Inc., Redline Communications Group Inc., Siemens AG, Speedcast International Ltd., Tait International Ltd., Viasat Inc., Weatherford International Plc, Curtiss Wright Corp., and Huawei Investment and Holding Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Offshore Oil and Gas Communications Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive offshore oil and gas communications market growth during the next five years
• Precise estimation of the offshore oil and gas communications market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the offshore oil and gas communications industry across North America, Middle East and Africa, APAC, South America, and Europe
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of offshore oil and gas communications market vendors

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