Artificial Intelligence
Oilfield Integrity Management Market to Exhibit 7.8% CAGR by 2027 Owing to Rising Prices of Oil Globally, states Fortune Business Insights™
Pune, India, March 16, 2021 (GLOBE NEWSWIRE) — The global oilfield integrity management market size is expected to reach USD 22.87 billion by 2027 while exhibiting a CAGR of 7.8% between 2020 and 2027. This is attributable to the growing oil & gas exploration activities and the increasing adoption of modern technologies such as artificial intelligence (AI) that is likely to propel the demand for advanced oilfield integrity management solutions globally. This information is published by Fortune Business Insights, in its latest report, titled, “Oilfield Integrity Management Market Size, Share & COVID-19 Impact Analysis, By Management Type (Monitoring System, Data Management, Corrosion Management, Planning, and Predictive Maintenance & Inspection), By Component Type (Hardware, Software, and Services), By Application (Onshore and Offshore Aerospace) and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 13.87 billion in 2019.
Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/oilfield-integrity-management-market-104475
Limited Financial Aid amid COVID-19 to Affect Market Growth
According to the International Energy Agency (IEA), the demand for oil decreased to 29 million barrels per day (bpd) in April 2020. The shutdown of manufacturing facilities has led to massive dip in the supply and demand of oil & gas applications. This is negatively affecting the market growth. Additionally, lack of financial aid and the shunted growth across transportation, commercial, and industrial sectors is likely to hinder the Oilfield Integrity Management Market growth in the near future. However, collective efforts are being implemented by government agencies and the companies to bring back the economy to normalcy that will contribute to the growth of the market during the forecast period.
Oilfield integrity management is primarily a type of service that enables automation of workflows that lead to improved productivity and reduced operating costs. Additionally, they aid in mitigating the risks associated with major oilfield operations. What does the Report Include?
The Oilfield Integrity Management Market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market strongholds between 2020 and 2027.
Click here to get the short-term and long-term impact of COVID-19 on this Oilfield Integrity Management Market.
Please visit: https://www.fortunebusinessinsights.com/oilfield-integrity-management-market-104475
DRIVING FACTORS Increasing Oil & Gas Exploration Activities to Promote Growth
The growing demand for oil is leading to increasing exploration activities across the globe. This presents a lucrative opportunity for the adoption of advanced oilfield integrity management solutions and services. Additionally, the rising prices of oil and gas are propelling the manufacturers to increase their investments in oil and gas exploration activities that will favor the growth of the global oilfield integrity management market during the forecast period.
SEGMENTATION
Monitoring System Held 41.6% Market Share in 2019
The monitoring system, based on management, held a market share of about 41.6% in 2019 and is projected to gain momentum backed by the increasing adoption of advanced monitoring systems to obtain real-time accurate data and improve efficiency. Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/oilfield-integrity-management-market-104475
REGIONAL INSIGHTS
Presence of Established Players in North America to Augment Growth
Among all the regions, North America stood at USD 6.88 billion in 2019 and is expected to showcase significant growth during the forecast period. This is attributable to the presence of established oilfield integrity management players in the region.
The market in the Middle East and Africa is expected to experience exponential growth backed by the presence of major oil-producing countries such as Saudi Arabia, the UAE, Kuwait, and others that propel the demand for advanced management solutions in the region between 2020 and 2027. COMPETITIVE LANDSCAPE
Major Companies Focus on Contract Signing to Strengthen Their Market Positions
The global Oilfield Integrity Management Market is fragmented by the presence of major companies that are focusing on signing lucrative contracts to expand their oilfield integrity management software and services. Furthermore, other key players are adopting strategies such as the introduction of new products, collaboration, and partnership that will contribute to the market growth in the forthcoming years.
Industry Development:
Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/oilfield-integrity-management-market-104475
List of the Companies Profiled in the Global Oilfield Integrity Management Market: Quick Buy – Oilfield Integrity Management Market: https://www.fortunebusinessinsights.com/checkout-page/104475
Table Of Content:
Have a Look at Related Research Insights:
UAE Oil Storage Terminal Market Size, Share and COVID-19 Impact Analysis By Type (Strategic Reserve and Commercial Reserve), By Tank Type (Fixed Roof, Floating Roof, Bullet Tank, and Spherical Tank), By Product (Diesel, Petrol, Aviation Fuel, Crude Oil, Kerosene, and Others) and Regional Forecasts, 2020-2027
Drilling Services Market Size, Share & COVID-19 Impact Analysis, By Service (Directional Drilling {Measurement While Drilling, Logging While Drilling, Rotary Steerable System, Gyro Drilling, Magnetic Drilling, and Others} and Non-Directional Drilling), By Application (Onshore and Offshore {Shallow Water, Deepwater, and Ultra-Deepwater}), By End-User (Oil & Gas, Mining, Water Exploration, and Others), and Regional Forecast, 2020-2027
Fuel Dispenser Market Size, Share & COVID-19 Impact Analysis, By Fuel Type (Petrol/Gasoline, Diesel, CNG, and Others), By Dispenser System (Submersible System and Suction System), By Flow Meter (Mechanical and Electronic), and Regional Forecast, 2020-2027 Oilfield Services Market Size, Share & COVID-19 Impact Analysis, By Type (Equipment Rental, Field Operation, and Analytical Services), By Service (Geophysical, Drilling, Completion & Workover, Production, and Processing & Separation), By Application (Onshore and Offshore {Shallow Water, Deepwater, Ultra-Deepwater}), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. Contact Us: Read Press Release https://www.fortunebusinessinsights.com/press-release/global-oilfield-integrity-management-market-10340
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
Photo – https://mma.prnewswire.com/media/2518604/Changzhou.jpg
View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-e-chinas-changzhou-city-unveils-investment-opportunities-in-sectors-of-new-productive-forces-for-global-investors-302261868.html
Artificial Intelligence
CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
View original content:https://www.prnewswire.co.uk/news-releases/cgtn-china-honors-individuals-with-highest-awards-in-celebration-of-75th-national-day-302261867.html
Artificial Intelligence
Kazakhstan Government Delegation Visited SUPCON
HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
Photo – https://mma.prnewswire.com/media/2518470/image_5022684_18905906.jpg Photo – https://mma.prnewswire.com/media/2518471/1.jpg
View original content:https://www.prnewswire.co.uk/news-releases/kazakhstan-government-delegation-visited-supcon-302261857.html
-
Artificial Intelligence2 days ago
CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review
-
Artificial Intelligence6 days ago
EC-Council Unleashes AI-Powered Ethical Hackers on Cybercrime
-
Uncategorized2 days ago
MC Digital Realty wins Frost & Sullivan’s 2024 Japan Data Center Services Company of the Year Award
-
Artificial Intelligence6 days ago
Happiest Minds’ MD & CFO, Venkatraman Narayanan, recognized as the Leading CFO of the Year at the CII CFO Excellence Awards 2023-24
-
Artificial Intelligence6 days ago
IBM and NASA Release Open-Source AI Model on Hugging Face for Weather and Climate Applications
-
Artificial Intelligence6 days ago
Hospital in Greenland chooses Sectra’s radiology solution–enhanced cross-country collaboration for improved patient care
-
Artificial Intelligence6 days ago
SSCL partners with PolyAI to empower next-generation customer experience
-
Artificial Intelligence6 days ago
BITBOT1000 Revolutionizes the Digital Market Landscape with AI-Driven Solutions