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Digital Oilfield Market to Garner USD 28.61 Billion by 2027 | Market Research Future (MRFR)

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Pune, June 08, 2021 (GLOBE NEWSWIRE) — Digital Oilfield Market Analysis

Market Research Future (MRFR) expects the global digital oilfield market to reach USD 28.61 billion at a CAGR of 6.5% from 2020 to 2027 (forecast period).

Digital oilfields comprise a wide range of tools, tasks, and disciplines. Advanced software and data analysis procedures are utilized to increase the profitability of oil and gas operations. The primary goal of the digital oilfield is to reduce non-productive time, maximize oilfield recovery, and boost profitability. Production optimization, operational efficiency, decision support, collaboration, data integration, the melding of operations with information technology, and the Internet of things are all aspects of the digital oilfield. It consists of a network sensor network, cloud computing, advanced big data analytics, and artificial intelligence. These aspects aid in understanding and predicting equipment failure, maintenance, and tract of the real time-based situation of the oil and gas field. Lastly, a digital oilfield is a technology that combines numerous technologies in innovative ways to increase productivity.

The primary drivers of this global digital oilfield market are technological advancement, an increase in the requirement for productivity from mature oil and gas wells, proper use of cloud computing in the oil and gas industry, and improved operational efficiency. Data security/cyber theft, on the other hand, maybe a constraint for this worldwide digital oilfield market. Nonetheless, service provider companies are working very hard to secure the networks in order to avoid any disruptions during the operation.

Digital oilfield encompasses a wide range of innovations such as fleet management and predictive maintenance. These advances are largely the result of enabling technologies like low-cost sensors, Big Data analytics, and cloud computing. For well over a decade, digital oilfield technologies have been in development. These technologies’ early adopters are already reaping the benefits. The technologies provide benefits such as greater efficiency and feasibility of oil and gas operations, improved health and safety, and enhanced compliance with environmental regulations. Increased awareness, identifying champions, encouraging collaboration, expanding the conversation, and other aspects of development are being examined in the digital oilfield.

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COVID-19 Impact on the Global Digital Oilfield Market

The ongoing COVID-19 pandemic has had a global impact on the oil and gas industry. As a result of the current situation, several oil and gas companies throughout regions have been forced to shut down their manufacturing facilities and services as countries implemented a partial or complete lockdown plan to deal with the pandemic. Companies in several locations have also postponed or delayed big oil and gas projects. Moreover, the COVID-19 pandemic has had an impact on crude oil prices, well drilling and production activities, and the supply chain of oil and gas.

Competitive Landscape

The global digital oilfield market is relatively fragmented and competitive, with a number of international and regional competitors present. To maintain their market position, industry players are substantially investing in technological advancement, global expansion, and mergers & acquisitions.


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Market Segmentation

The global digital oilfield market has been segmented into process, solution, and application. 

By process, the global digital oilfield market has been segmented into the reservoir, production, and drilling optimization. Because of the increasing demand for oil and gas, production is expected to expand at a quicker rate and hold the biggest market share during the projection period.

By solution, the global digital oilfield market has been segmented into hardware, software, and data storage. Among these, hardware solutions are expected to develop at a quicker rate and have the biggest market share during the projection period. As a hardware solution, smart well, distributed control systems, wireless sensors, SCADA (Supervisory Control and Data Acquisition), and other components are employed extensively in the digital oilfield.

By application, the global digital oilfield market has been segmented into onshore and offshore.


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Regional Analysis

By region, the global digital oilfield market has been segmented into North America, Europe, Asia Pacific, and Middle East & Africa.

North America is expected to have the greatest market share due to its huge shale oil and gas reserves, followed by the Asia Pacific, which includes countries such as China and India. The re-engineering of technological solutions to improve the optimization and management of oil and gas operations will propel the business forward. The business landscape has been enriched by increased oilfield discoveries and domestic output. Furthermore, the refurbishment of oil and gas platforms in the offshore industry to incorporate advanced AI and machine learning technologies will influence product demand. According to the US Energy Information Administration, US shale gas and tight oil production increased by more than 6 million BOE/d between 2008 and 2014, directly contributing to the growth of the worldwide digital oilfield market. Continuous investment by public and private partners in the upstream and midstream sectors will accelerate technology adoption.


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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Picus Security Launches Security Validation for Kubernetes

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Teams can eliminate container security exposures with the new enhancements in Picus’ platform for multi-cloud
SAN FRANCISCO, May 23, 2024 /PRNewswire/ — Picus Security, the Security Validation company, today announced security validation for Kubernetes. This new capability allows Security and DevOps teams to realize the benefits of containers securely by proactively measuring and optimizing the resilience of clusters. It is the latest innovative addition to the Picus Security Validation Platform, which empowers users to consistently validate their security posture and measure risk across on-premises and multi-cloud environments.

For organizations that want an agile way to deploy, run and scale applications, Kubernetes offers considerable benefits. However, security is often the biggest barrier to its adoption. The dynamic and complex nature of Kubernetes means that containers are often misconfigured due to human error. Without a hands-on approach to governance, security gaps can easily emerge over time, increasing the risk of incidents. This situation is exacerbated by the high level of expertise required to secure Kubernetes and the use of default settings which are inherently insecure. According to The State of Kubernetes Report, more than two-thirds of Kubernetes users (67%) have delayed deployments due to security concerns.* 
The addition of Kubernetes validation extends the Picus platform’s existing validation capabilities, which are powered by attack simulation and GenAI. It enables organizations to proactively identify and mitigate security misconfigurations, such as weak policies and settings that could allow containers to run with insecure privileges and facilitate lateral movement. Now security teams can automatically assess the security of their workloads wherever they are located – on-premises, in containers, and also in cloud platforms including Amazon Web Services, Google Cloud Platform, and Microsoft Azure.
“Cloud security is perhaps the biggest barrier of entry for organizations that want to take advantage of container orchestration,” said Volkan Erturk, Picus CTO and Co-Founder. “Kubernetes offers incredible opportunities for DevOps teams to deploy and scale new applications, but Security teams can struggle to keep pace.
“With the Picus Security Validation Platform, security concerns won’t slow down an organization’s digital transformation journey. This new offering will allow our users to consistently measure the security of their workloads and vastly reduce the effort needed to address exposures across growing IT environments.”
Additional Information
Read the Kubernetes validation announcement blog.Register for the upcoming webinar on July 11th 2024 at 10.00 EST/ 15.00 BST: Beyond Cloud Security Posture Management: Validating Cloud Effectiveness with Attack Simulation About Picus Security
Picus Security helps security teams consistently and accurately validate their security posture. Our Security Validation Platform simulates real-world threats to evaluate the effectiveness of security controls, identify high-risk attack paths to critical assets, and optimize threat prevention and detection capabilities.
As the pioneer of Breach and Attack Simulation, we specialize in delivering the actionable insights our customers need to be threat-centric and proactive. 
Picus is a Gartner® Peer Insights™ Customers’ Choice for 2024 in the BAS tools category†. The company is recognized as a leader by Frost & Sullivan^.
† Gartner, Voice of the Customer for Breach and Attack Simulation Tools, Peer Contributors, 30 January 2024 ^ Frost and Sullivan, 2022 Frost Radar™ report for the Global Breach and Attack Simulation Market
Logo: https://mma.prnewswire.com/media/2183222/4724563/Picus_Logo.jpg

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Highlights from the Finale: Day Three of the London Blockchain Conference Unravelled

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As the London Blockchain Conference draws to a close, attendees heard from industry experts on Driving Innovation with Blockchain.
LONDON, May 23, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference were in to witness the final day, which featured a line-up of informative and thought-provoking speakers. Throughout the day, there were exciting panels and presentations which featured cutting-edge ideas and insights.

Day 3 kickstarted with BSVA launching a new report focusing on the role of blockchain in safeguarding data and streamlining transactions.
Other sessions included:
The Intersection of Web3, AI, and Emerging Tech – Somi Aran, Founder of InPeak gave the opening keynote which explored the dynamic convergence of Web3, Artificial Intelligence, and emerging technologies. She delved into how these technologies are reshaping industries and redefining the boundaries of innovation and the potential impacts and opportunities these technologies present.
Bridging the gap: Making Web3 technologies user-friendly – Christine Leong, CIO, nChain – discussed some of the innovative strategies and practical solutions aimed at simplifying Web3 technologies. She also discussed how nChain is planning to transform Web3 from a domain exclusive to the tech-savvy, into a user-friendly ecosystem that empowers all users.
Is code law? – Rules applicable to blockchain networks – panel featuring Marcin Zarakowski, CEO of Token Recovery, Akber Datoo CEO of D2 Legal Technology, Jeffrey Golden, King’s Counsel (Hon) at 3 Hare Court Chambers, Andrei Kirilenko, Professor of Finance at Cambridge Judge Business School, Professor Sarah Green, Law Commissioner at Law Commission, where they discussed that rules apply to the nodes and validators which support the particular network and process its transactions. The group also discussed whether the blockchain protocols’ rules and software code are the only sources of regulation in blockchain networks.
An Introduction to nChain Identity – Thomas Moretti, Head of Product Development at nChain. He spoke about the Self Sovereignty Identity concept and showcased the latest project it is working on – nChain Identity.
Reimagining Roles: How regulated industry leaders are shaping the future of finance – a panel featuring, Andrew Mosson (Chief Commercial Officer of OneTrading, Néstor Palao, Head DLT & Corporate Clients at Sygnum Bank, Laurence Lewandowska, CFO/COO at BSV Association and Wojciech Kaszycki Chairman & Founder at Mobilum. The panel discussed how the new era of digital assets, traditional banking institutions, exchanges, and financial services are being reimagined in the context of emerging technologies such as blockchain and AI.
Please register here if you would like to listen to any of the sessions today. 
If you want to interview any speaker from today’s sessions, please email [email protected].
About the London Blockchain Conference NETWORK. LEARN. ENGAGE.  At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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Nord Anglia Education publishes new insights on the role of AI and metacognition in learning

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LONDON, May 23, 2024 /PRNewswire/ — INSIGHTS, the global publication from Nord Anglia Education, has published two new articles taking an in-depth look at AI in education and the role of metacognition in teaching and learning.

Exploring the role of AI in learning
https://www.nordangliaeducation.com/insights/2024/articles/the-generative-generationIn its ‘Generative Generation’ feature, INSIGHTS explores the role of artificial intelligence (AI) in education, and whether the technology is making it easier for children to learn. Speaking to Nord Anglia’s educators as well as leading experts from the world of academia, it also includes real-life examples of how Nord Anglia’s schools are using AI in the classroom.
For example, Nord Anglia’s British International School in Kuala Lumpur has adapted the technology to create an AI-powered teaching assistant that can personalise learning, guide students through content exploration, and deepen their understanding through interactive activities. Learners define the topic they want to explore and the course specification they are working to, and the AI explores the content with them in a conversational way, enabling them to ask questions as they go. 
Dr Bruce Geddes, Deputy Head of Secondary at the school, told INSIGHTS that AI represents “the biggest opportunity we’ve had in our lifetimes, for many, many spheres, but particularly in education”.
Avenues: The World School in New York, which became part of Nord Anglia in 2023, encourages its students to use AI in their work. As an example, in an app development project students use ChatGPT to generate the bulk of the coding, then review, correct and refine it. This saves them “hours of manual work by leveraging the appropriate tool in an academically appropriate way,” says Lia Muschellack, Director of Technology at the school.
The school also has its own generative AI chatbot, Savvy, built in 2019 and now powered by open AI technology. It can answer queries, provide information, and engage in “diverse discussions ranging from academic topics to casual conversations”.
“We understand that our students will be actively leveraging these tools throughout their academic and professional pathways, so we want to make sure they not only understand the potentials and limitations, but that they have tinkered and truly experienced them,” Muschellack explains.
Metacognition: a learning superpower
In its feature ‘Metacognition. Helping Kids Unlock the Power of ‘Thinking about Thinking’, INSIGHTS looks at how students can develop the important skill of metacognition.
“Metacognition is the ability to be aware of our cognitive or thought processes and to monitor, reflect on, and change those processes,” Dr Rose Luckin, Professor of Learner Centred Design at the University College London Knowledge Lab, told INSIGHTS.
Nord Anglia Education is working with Dr Luckin to develop its approach to metacognition and to help teachers introduce metacognitive strategies into classrooms. It has developed a metacognitive framework of six “Learner Ambitions” to help students develop the 6 Cs: to become critical, creative, committed, and curious learners, working compassionately and collaboratively in the classroom and beyond.
As the article explains, Nord Anglia’s deep dive into metacognition has many goals: developing student agency, boosting academic performance, and developing ‘future’ skills that employers want. The framework is being initially applied across 27 Nord Anglia schools around the world and its impact will be measured in independent research in partnership with Boston College, reporting in 2025.
Nord Anglia’s examination of metacognition also involves exploring personalised goals and thinking routines. For instance, students at Nord Anglia International School Hong Kong use the “Step In, Step Out, Step Back” routine to develop empathy and understanding in their studies. “It’s about asking the right questions; those really big questions that lead to even more questions,” says Raquel Thomson, the school’s Deputy Head of Primary. “Thinking strategies like this stay with students and serve a purpose whatever they do in their lives, whether they choose to be a scientist or a teacher or go into business.”
For media enquiries please contact: Francesca Milani Communications Manager, Digital Education Portfolio +44 20 7131 0000 [email protected] 
About Nord Anglia Education:
As the world’s leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.  
Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.  
No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.  
To learn more or apply for a place for your child, go to nordangliaeducation.com.
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