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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.