Oilfield Communications Market Expected to Reach $6.25 billion by 2026 | Top Companies Siemens, ABB, Huawei, Speedcast, Commtel, Rad Data, Rignet, Baker Hughes

Oilfield communications require a consistent and competent wireless network that is able to function over long distances and under harsh weather conditions. Oilfield communication networks and technologies supply lightning broadband speeds, thereby sustaining several applications that ultimately develop the operational efficiency and safety of the oilfield operations in a cost-effective manner.

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According to Publisher, the Global Oilfield Communications Market is accounted for $2.95 billion in 2017 and is expected to reach $6.25 billion by 2026 growing at a CAGR of 8.7% during the forecast period. Rising demand for offshore oil field communication solutions, new projects in drilling for oil in extreme conditions and rising implication of cyber security are some of the key factors fuelling the market growth. However, factors such as strict government regulatory norms and probable risk in data and asset security are hindering the market. Growing demand for cost-effective solutions in the oil and gas industry provides ample of opportunities for the market growth.

Amongst Communication Network Technology, Very Small Aperture Terminal (VSAT) is a satellite communications system that serves home and business users. A VSAT requires a box that interfaces between the user's computer and an exterior antenna with a transceiver. The transceiver receives or sends a signal to a satellite transponder in the sky. The satellite sends and receives signals from an earth station computer that acts as a hub for the system. The growth is due to the need for cyber security in the oil & gas industry. Asia Pacific is anticipated to grow highest CAGR during the forecast period due to the high investing R&D activities and rapidly increasing oilfield excavation activities in this region.

Some of the key players in the Oilfield Communications market include Siemens AG, ABB Ltd, Huawei Technologies Co. Ltd., Speedcast International Limited, Commtel Networks Pvt. Ltd., Rad Data Communications, Inc., Rignet, Inc., Baker Hughes Incorporated, Ceragon Networks Ltd., Alcatel-Lucent S.A., Tait Communications, Commscope, Inc., Inmarsat PLC, Airspan Networks, Inc. and Hughes Network Systems LLC.

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Services Covered:
- Managed Services
- Professional Services

Communication Network Technologies Covered:
- Tetra Network
- Fiber Optic-Based Communication Network
- Microwave Communication Network
- Cellular Communication Network
- VSAT Communication Network

Field Sits Covered:
- Onshore Communications
- Offshore Communications

Solutions Covered:
- Midstream Communication Solutions
- Downstream Communication Solutions
- Upstream Communication Solutions

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This release was published on openPR.