Satellites are playing vital role in the oil & gas industry. Right from exploration of fossil fuel to production and transportation of crude oil, satellite services assist upstream, midstream, and downstream branches of the oil & gas industry. Operations in the oil & gas industry, whether they are onshore or offshore, are mostly carried out in remote locations. These locations are far from any infrastructural development, isolated, and with harsh environmental conditions. The difficulty and risk levels are high in offshore operations, due to uncertain and continuously changing conditions of winds and waves. Satellite services comprise communication services and remote-sensing services that can be utilized in the oil & gas industry.

With their innovative technology of high spatial resolution imaging, remote-sensing satellite services can help in the exploration of new hydrocarbon reserves. The high-resolution surface data obtained from satellite imagery exhibits different surface features of the area of interest. This, in turn, helps to design, manage, and execute geophysical exploration surveys required for the exploration of oil and gas deposits.

In midstream oil & gas operations, remote sensing satellite services can be used for continuous monitoring and mapping of widespread, extensively long network of pipelines. Leakage or damage of crude oil pipelines can cause severe environmental pollution. This can be a major loss in terms of revenue to any oil & gas company. Thus, maintaining the safety and integrity of pipeline satellite services can save great amount of time and money involved in midstream oil & gas operations.

Communication satellite services are capable to provide broadband Internet, voice over IP (VoIP), real-time video, and reliable wireless communications in harsh offshore as well as onshore environments. Instant and crucial decision-making is a regular task in upstream oil & gas operations, wherein the communication between management, scientists, and onsite workforce plays a key role. Communication satellite services help in addressing health- and safety-related issues in such high-risk operations.

The ever-increasing demand for crude oil is a key driver for the satellite services market for the oil & gas industry. The era of easy oil is over. The rise in demand for this favored energy source is creating need for exploring new oil and gas deposits across the world. The new reserves of oil and gas are being discovered in deeper, offshore environments. The future of the oil & gas industry lies mostly in offshore environments. This presents growth opportunities for the satellite services market for the oil & gas industry.

Though the oil & gas industry is currently suffering due to low oil prices, it is likely to recover in the next few years. On the other hand, increased use of renewable energy sources could be one of the major restraints for the industry. However, along with renewable energy sources, natural gas has emerged as one of the most favored fuels in recent times. Thus, the satellite service market for the oil & gas industry is likely to expand at a significant rate in the near future.

Geographically, North America holds a major share of the global satellite services market for the oil & gas industry. The region has several players that offer satellite services and is also one of the major producers of oil and gas. Middle East & Africa is known for its oil and gas reserves and hence, the region is estimated to be a lucrative market for satellite services in the near future. Asia Pacific is home to some of the major petroleum refineries in the world. This presents growth opportunities for the market in the region.

Major players operating in the satellite services market for the oil & gas industry are ESOA, Ground Control, DHI GRAS A/S., i-cubed, LLC. ESRI, Infosat Communications, Castor Networks, ND SatCom GmbH, Network Innovations, Datasat Communications, Orange Business Services, and Hughes Network Systems LLC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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