Digital Oilfield Market Size To Reach $41.6 Billion By 2030

May 2025 | Report Format: Electronic (PDF)

Digital Oilfield Market Growth & Trends

The global digital oilfield market size is expected to reach USD 41.6 billion by 2030, registering a CAGR of 6.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Expected growth in the number of oil and gas reserves, coupled with the need for increased operational efficiency, is likely to strengthen the demand for digital oilfields.

Growing requirement for real-time monitoring systems that provide timely updates through wireless connectivity is anticipated to provide growth opportunities for digital oilfield technology. The market is primarily driven by the need to maximize oilfield recovery, eliminate nonproductive time, and reduce capital and operating expenses by integrating the workflow.

The upstream application segment accounts for a significant share in the industry. Digitalization of upstream processes, including production, reservoir, and drilling optimization through digital twin well evaluation, is expected to benefit the industry growth. In addition, growing digitalization of other upstream processes such as production surveillance, predictive process control, intelligent command centers, and control systems is anticipated to positively impact the market growth. Such control systems include Supervisory Control and Data Acquisition (SCADA).

Industry participants are adopting several strategic initiatives such as technological collaborations with software providers to expand their foothold in the industry. For instance, in February 2019, ExxonMobil partnered with Microsoft, adopting the latter’s integrated cloud technology to gain access to real-time data from oilfield assets.

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Digital Oilfield Market Report Highlights

Product optimization led the digital oilfield industry in 2024, generating a revenue share of 30.87%. Safety management processes are expected to register the fastest CAGR of over 7.1% during the forecast period.
Hardware solutions held the largest market share of 49.8% in 2024. The data storage solutions segment is expected to register the fastest CAGR of 7.3% during the forecast period.
Onshore application dominated the digital oilfield market with a revenue share of 65.34% in 2024. The offshore application is expected to register the fastest CAGR of 6.6% during the forecast period.
North America digital oilfield market dominated the global market with a revenue share of 34.85% in 2024. The digital oilfield industry in the U.S. dominated North America with a revenue share of over 85.1% in 2024.
The Asia Pacific digital oilfield industry is expected to register the fastest CAGR of 7.2% during the forecast period.