Offshore Oil and Gas Communications Market to Grow by USD 1.35 bn| Increasing Investments in Enhancing Network Infrastructure to Boost Market Growth |…

Key Market Dynamics:

Factors such as the increasing investments in enhancing network infrastructure are driving the market. The oil and gas industry has relied on its own telecommunications networks for decades. These networks are used for handling day-to-day operations and coordinating emergency assistance. Many mission-critical networks face the need to modernize. The demands related to infrastructures, such as real-time data, sophisticated control and monitoring closer to the network edge, and high-level security, are increasing significantly. The need for good communication is also important. Oil and gas field communications necessitate dependable, durable, and high-capacity wireless networks that can operate across broad areas and in harsh environments.

Factors such as increasing cybersecurity riskswill challenge market growth. Cyber attackers have been targeting crude oil and gas businesses. Development drilling and production have the highest cyber risk profiles among upstream operations, while seismic imaging has a lower risk profile. The increased need 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 world make it highly vulnerable to cyberattacks.

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Market Segmentation

By application, the offshore oil and gas communications market report is segmented into upstream, midstream, and downstream. The upstream segment will have significant market share growth during the forecast period. Improved upstream communication systems have enabled subsea advances and remote unmanned offshore sector tasks to be revolutionized. As more oil and gas projects are being built worldwide, the upstream offshore oil and gas communications market segment is likely to grow.

By geography, the market has been segmented into North America, Middle East and Africa, APAC, South America, and Europe.North Americawill be the leading region with 42% of the market's growth during the forecast period. The US and Canada are the key countries for the offshore oil and gas communications market inNorth America.

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Some Companies Mentioned

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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

USD 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

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 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.

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:[emailprotected]Website:www.technavio.com/

SOURCE Technavio

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Offshore Oil and Gas Communications Market to Grow by USD 1.35 bn| Increasing Investments in Enhancing Network Infrastructure to Boost Market Growth |...