The global oilfield communications market was valued at US$ 3.50 Bn in 2018 and is expected to reach US$ 6.81 Bn by 2026 with a CAGR growth rate of 8.74% in the forecast period from 2019 to 2026.
Optical fiber communication is witnessing increasing demands in the oilfield communications market. One of the prime factors that are driving the demands for optical fiber cables is the growing needs for fast and improved networking and network services and growing penetration of broadband connections among developed and developing countries. A fiber optic cable ensures maximum reach out of services with very less attenuations, higher bandwidths and greater reliability over longer distances as a result of which there has been a meteoric rise in its implementations in various verticals. The growth of upcoming technologies, more popularly referred to as SMAC (Social, Mobility, Analytics, and Cloud) demands for higher bandwidth. Upgrade from legacy network infrastructure to advanced network infrastructure for smoothly accessing such high-bandwidth content is thus boosting the demands across the globe. Thus, the oilfield communications market is anticipated to be driven at a healthy rate during the forecast period.
The most prominent market players in oilfield communications market are Baker Hughes Incorporated, Ceragon Networks Ltd., Tait Communications, and Commscope, Inc. among others for a considerable share of the market owing to their product offerings to the market. Companies have taken several market initiatives in order to expand their footprint across the world and to fulfill the growing demand of the market. In 2019, Airspan Networks Inc. and CTIconnect collaborated to Help Wisp’s and Rural Carriers. This partnership is expected to give their clienteles access to the leading edge and entire range of the Airspan portfolio of products and services, while leveraging the strong market position of CTIconnect.
The players present in oilfield communications market mainly concentrate towards the partnership, collaborations, agreements and other activities for the deployment of new technological solutions across the world permit the company maintain its brand name globally. Most of the market initiative were observed in North America region, which have high potential of oilfield communications market related services. Few on the important oilfield communications market initiatives and acquisitions from the industry are mentioned below:
|2019||Airspan Networks Inc. expanded their cooperation with Qualcomm Technologies, Inc. to include the development of 5G NR mmWave RAN solutions, leveraging the Qualcomm FSM100xx 5G Platform. Thus, by utlizing Qualcomm Technologies’ cutting edge 5G technology, Airspan strengthens its capability to bring the next generation of highly-capable infrastructure products to market.||North America|
|2019||NEC Corporation and Ceragon Networks Ltd. collaborated to further expand their global wireless backhaul business footprint. The companies are anticipated to accelerate availability of advanced technologies and solutions for 5G wireless backhaul in microwave and millimeter-wave spectrum.||Middle East and Africa|
|2019||Inmarsat and Microsoft Azure IoT joined forces to deliver cloud services via satellite. Under the agreement, Microsoft Azure customers will be able to access Inmarsat’s global satellite communications network, facilitating them to connect their IoT infrastructure to cloud-based applications through the world’s most reliable mobile connectivity network.||North America|