5G in Oil & Gas Market Share and Size, Global Insights and Industry Report | Market Data Library 2032
It is anticipated that by 2032, the global market for 5G in Oil and Gas Market will be worth $41,454.7 million. The market is driven by factors like the growing oil and gas industry, the rising demand for ultra-high-speed and low latency communication, improved productivity and operational efficiency, and the integration of 5G-enabled systems like drones, the internet of things (IoT), robotics, and artificial intelligence (AI), with an expected annual growth rate of 34.7% during the forecast period of 2022–2032.
The demand for effective and dependable communication solutions has increased as a result of the global oil and gas industry's rapid expansion. Improved decision-making, optimised operations, and seamless data transfer between production sites and vessels are all possible thanks to 5G technology's exceptional speed and low latency.
The need for real-time data processing, remote monitoring requirements, and growing operational complexity are what are driving the demand for ultra-high-speed communication in the oil and gas industry. With the help of 5G networks, oil and gas firms can maximise productivity by streamlining processes, automating jobs, and utilising cutting-edge technologies like IoT, drones, robotics, and AI.
The oil and gas sector has a lot of potential for cost savings and operational efficiency with the implementation of 5G. By integrating 5G-enabled systems and devices, businesses are able to proactively handle maintenance needs, reduce downtime, and make the most use of their resources. These benefits include remote monitoring, predictive maintenance, and data-driven insights.
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Highlighted with 87 tables and 76 figures, this 168-page report “Global 5G in Oil & Gas Market 2022-2032 by Offering (Hardware, Software, Services), Spectrum (Low, Mid, High), Connectivity (EMBB, MMTC, URLLC), Application (Upstream, Midstream, Downstream), and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global 5G in oil & gas market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
- Market Structure
- Growth Drivers
- Restraints and Challenges
- Emerging Product Trends & Market Opportunities
- Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global 5G in oil & gas market in every aspect of the classification from perspectives of Offering, Spectrum, Connectivity, Application, and Region.
View Report Scope and Latest Developments in the Market: https://www.marketwatch.com/press-release/5g-in-oil-gas-market-and-overview-global-insights-and-trends-forecasts-to-2022-to-2032-2023-06-02?mod=search_headline
Based on Offering, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Hardware
- Software
- Services
Based on Spectrum, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Low-Band
- Mid-Band
- High-Band
By Connectivity, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Enhanced Mobile Broadband (EMBB)
- Massive Machine-type Communications (MMTC)
- Ultra-reliable Low-latency Communication (URLLC)
By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Upstream Operation
- Midstream Operation
- Downstream Operation
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Geographically, the following regions together with the listed national/local markets are fully investigated:
- North America (U.S., Canada, and Mexico)
- Europe (Kazakhstan, UK, Azerbaijan, Norway, Italy, Russia, Rest of Europe, Rest of Europe; Rest of Europe is further segmented into Germany, France, Switzerland, Spain, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
- APAC (Indonesia, China, Malaysia, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Japan, South Korea, Singapore, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
- South America (Brazil, Venezuela, Argentina, Rest of South America)
- MEA (UAE，Saudi Arabia，Iran and Rest of MEA)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2032. The breakdown of all regional markets by country and split of each national market by Offering, Spectrum and Application over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Alibaba Cloud
Athonet
China Mobile Ltd.
China Telecommunications Corporation
Cisco Systems, Inc.
Ericsson AB
Fuze
Google (Google Cloud)
Hitachi Energy
Huawei Technologies Co., Ltd.
Intrado
Microsoft (Microsoft Azure)
Niral Network
Nokia Corp.
NTT Docomo, Inc.
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
Sateliot
Sierra Wireless
Verizon Communications Inc.
Windstream
ZTE
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