Artificial Intelligence
Logging While Drilling Market to reach USD 5.05 Billion by 2026; Surging Drilling Activities Worldwide to Help Gain Momentum, predicts Fortune Business Insights
Pune, Jan. 08, 2020 (GLOBE NEWSWIRE) — The Logging While Drilling Market size is anticipated to be worth USD 5.05 by 2026, owing to the increasing onshore and offshore drilling activities. The market value was USD 2.82 billion in 2018 and is expected to rise remarkably, exhibiting a CAGR of 7.6 % within the forecast period of 2019 to 2026. This information is published in a recent report by Fortune Business Insights, titled, “Logging While Drilling Market Size, Share & Industry Analysis, By Application (Onshore, Offshore (Shallow Water, Deepwater, Ultra-Deepwater)), and Regional Forecast, 2019-2026.” The report discusses various growth trajectories of the market in detail.
Highlights of the Report
Logging while drilling systems or LWD are used for obtaining real-time formation evaluation while drilling. The production capacity of the borewell to be drilled is determined by its physical properties such as density, conductivity, porosity, resistivity, saturation, and others. Thus, logging-while-drilling investigates the actual physical properties of the borewell, which further helps the operator to estimate the rate of penetration, reassess and make changes in the entire process. All the above factors help to improve and fasten drilling activities for both onshore and offshore purposes. Thus, the factors mentioned above are anticipated to promote market growth in the forecast duration.
Additionally, the rise in industrialization and urbanization all over the world is propelling the demand for energy and power activities. The surge in deep-water and unconventional energy and power activities will also help earn high logging-while-drilling market revenues. Furthermore, the accelerating demand for technical expertise for cost-competitive oil and gas production is further expected to fuel the Logging While Drilling Market growth. North America to Remain Dominant Despite Fluctuating Crude Oil Prices
From a geographical perspective, Fortune Business Insights foresees the global Logging While Drilling Market to be segmented into the regions of Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa. As per current LWD market trends, North America is holding a significant position in the overall oil and gas sector worldwide with market size of USD 1.13 billion in 2018. Despite the fluctuating prices of crude oil, the U.S. is investing huge sums on drilling-related goods and services. Companies having their base in this region are focusing on investing huge sums in drilling activities in the region. The production and exploration activities in the U.S. are stimulated by the continuous demand for oil and gas. Additionally, the market has also been positively impacted by the shale gas revolution, thus making this region emerge dominant.
As per the World Oil Report, there is a 12% surge in the overall drilling activity in the U.S. up to 27, 095 wells in 2017 as compared to the previous year. Thus, the surge in drilling activities in oil and gas reserves is further anticipated to help this region continue dominance in the forecast period as well.
On the other side, the market in Europe is anticipated to grow at a significant rate on account of the economic progress of recovering hydrocarbon in the Norwegian Continental Shelf. This, coupled with consistent investments by major companies, will help the market witness high Logging While Drilling Market shares in the coming years. Russia is expected to dominate the Europe market, accounting for the increasing production and exploration activities.
Request a Sample Copy: https://www.fortunebusinessinsights.com/enquiry/sample/logging-while-drilling-lwd-market-101919 Some of the key industry developments in the Logging While Drilling Market includes:
July 2019 – A 3D reservoir mapping was introduced by Halliburton. This is a new logging while drilling system that uses advanced reservoir mapping process called 3D inversion for scanning overlooked features such as water zones, faults, local structural variations, and alter the path of optimal landing in a well.
October 2019 – Two drilling service contracts worth USD 67.4 million was given to Weatherford from two major operators in Russia. Weatherford will be providing services such as measurement while drilling (MWD), drilling, Logging-while-drilling, rotary steerable systems (RSS), and geo-data interpretation services in different oilfields in the Western Siberia.
Player’s Efforts to Improve Well Performance and Deduct Production Cost Resulting in Huge Investments in Research and Development Schlumberger, Weatherford, Baker Hughes, and Halliburton, are holding a significant position in the market. The strong presence of these companies in various geographies is a major factor helping them hold dominant Logging While Drilling Market share. Companies are focusing on minimizing the cost of production and performance improvement by investing huge sums into research and development. This is further expected to increase the Logging While Drilling Market size in the forecast period.
List of the significant players operating in the Logging While Drilling Market are listed below:
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Increasing Demand for Energy and Power Activities to Drive Market
Key Industry Developments
Table of Content:
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Artificial Intelligence
Darwinbox named as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud HCM Suites Report for Enterprises with 1,000+ Employees
DUBAI, UAE, June 17, 2024 /PRNewswire/ — Darwinbox, a global leader in cloud-based HCM solutions, today announced that it has been distinguished as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud HCM Suites for 1,000+ Employee Enterprises.
The Gartner® Peer Insights™ Customers’ Choice distinction is based on feedback and ratings from end-user professionals with experience using the product or service. As of 31 January 2024, Darwinbox received an overall rating of 4.8 out of 5 stars across 141 reviews.
“We believe this distinction, for the third consecutive year, reflects our unwavering commitment to our customers and their success, as well as our dedication to excellence and innovation in the HCM space,” says Jayant Paleti, co-founder, Darwinbox.
Darwinbox has been named a Customers’ Choice for both Large Enterprise (1B – 10B USD) and Midsize Enterprise (50M – 1B USD) segments, showcasing its robust capabilities in handling large-scale operations and its widespread appeal across various business sizes. This recognition underscores the platform’s popularity, driven by its powerful configurability, intuitive design, and agility. An impressive 98% of customers rated Darwinbox 4-stars or higher, highlighting the overwhelming satisfaction with the product.
Furthermore, Darwinbox is recognized as the most customer-friendly enterprise-grade HCM solution globally. The platform distinguishes itself through its ease of implementation and integration, prompt vendor responses, and exceptional technical support, demonstrating Darwinbox’s dedication to quick service and client satisfaction. Notably, 94% of its customers have expressed their willingness to recommend Darwinbox, demonstrating its significant impact and reliability in the enterprise tech landscape.
“What I love is when we need support, the customer service is top-notch – always responsive, solution makers, and always helpful,” HR Business Partner, Media Industry
“Darwinbox has been able to cater to our needs given our diverse business structures and differences in processes,” HR Lead, Manufacturing Sector
Read more reviews
About Darwinbox:
Darwinbox is a leading SaaS-based HR technology platform, empowering organisations to automate HR processes and elevate the employee experience. Rated the highest globally among HCM players on Gartner’s customer review platform, Peer Insights, Darwinbox is trusted by 900+ global enterprises with more than 2.5 million employees spread across 116+ countries.
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Artificial Intelligence
Find Your Perfect Domain with GoDaddy’s Innovative AI Technology
Leverage Artificial Intelligence (AI) to easily find the perfect domain name for your business
ISLAMABAD, June 17, 2024 /PRNewswire/ — As you embark on your online journey, choosing the right domain name plays a vital role in establishing your web presence. It is often one of the earliest decisions you will make as an entrepreneur or small business owner.
GoDaddy is harnessing the power of AI to help entrepreneurs and small business owners find the right domain name for their business, themselves, or their organization. GoDaddy AI Domain Search tool is designed to deliver personalized domain suggestions tailored to each user’s unique needs. Having a catchy and memorable domain name for your business helps to enhance branding and provides increased visibility for a business on the internet.
By simply entering a business description or keywords, users receive creative and unique domain name choices that can align with their brand identity and vision. GoDaddy uses generative AI to provide users with personalized and brandable domain name suggestions based on their business description, idea, product, or service.
GoDaddy AI Domain Search can simplify the process of finding the perfect domain name for a business. When a user enters information describing their business, project, or idea, including such details as business name if already chosen, location or industry, within seconds the AI tool makes suggestions by creating a list of available domain names with different variations and domain name extensions tailored to your needs.
Finding a domain name for a business idea is important as the name chosen will be reflective of your brand for many years to come. Here are some tips for finding available domain names:
Use specific keywords that describe your business, your products and services, your location, and your industry.Use keywords that people would enter when searching for your products or services.Try using variations of a word you want in your domain name to get more options.Mix up keyword combinations that can describe your business.Your aim is to create a name that is memorable, easy to pronounce, and stands out in your industry.In a world driven by AI, GoDaddy AI Domain Search tool simplifies the process of finding the perfect domain name, enabling you to effortlessly brainstorm and explore creative ideas that align with your vision. Within seconds, you can receive a selection of available domains, empowering you to bring your idea to life.
To experience the power of GoDaddy AI Domain Search visit: www.godaddy.com/en-ph/domains/domain-name-generator
About GoDaddy
GoDaddy helps millions of entrepreneurs around the world start, grow and expand their businesses. People turn to GoDaddy to name their idea, create a professional Web site, attract customers, sell their products and services, and accept online payments. GoDaddy’s easy-to-use tools help micro-entrepreneurs manage everything in one place, and its experts are available to provide 24/7 assistance. For more information about the company, visit www.GoDaddy.com.
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Artificial Intelligence
Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market
SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.
Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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