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
- The report offers a 360-degree overview of the Logging While Drilling Market, primarily emphasizing on growth drivers, restraints, trends, challenges, and opportunities of the market.
- It provides elaborative information about the competitive landscape of the market, names of market vendors, market segmentation on the basis of application, type, and others, and current logging-while-drilling market trends and industry developments.
- The report also throws light on strategies such as company collaborations, mergers and acquisitions, product launches, installation of new machinery, and up-gradation of the older versions, investments in research and development, and other strategies adopted by the market players.
To gain more insights into the market with detailed table of content and figures,
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Increasing Demand for Energy and Power Activities to Drive Market
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.
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Key Industry Developments
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:
- National Energy Services Reunited Corp.
- Nabors Industries
- Baker Hughes
- APS Technology Inc.
- Kambi Enterprises Inc.
- Scientific Drilling
- Halliburton
- COSL- China Oilfield Services Limited
- National Oilwell Varco
- Weatherford
- Schlumberger
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Value Chain Analysis
- Global Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Onshore
- Offshore
- Shallow Water
- Deepwater
- Ultra-Deepwater
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/enghouse-video-partners-with-sonifi-health-to-deliver-advanced-telehealth-solutions-in-hospital-rooms-302126882.html
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Artificial Intelligence
ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO
Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html
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