Oilfield Communications Market to Grow at a CAGR of 7.4 through 2020

Dublin, Ireland, Aug. 10, 2015-- Research and Markets has announced the addition of the "Oilfield Communications Market by Communication Technologies (Cellular Network, VoIP, Unified Communications, M2M, Microwave Communication, WiMax, VSAT, TETRA, Fiber Optics, WAN, LAN), Band Type (L Band, Ku Band, HTS) - Global Forecast to 2020" report to their offering.

The deployment of advanced oilfield communication technologies and solutions such as VSAT, WiMax, TETRA networks enable oil and gas companies to reduce their overall costs significantly. Various other factors such as increasing demand for offshore oilfield communication solutions, increasing ICT expenditure, and telecom-based technological growth are catalyzing the overall growth of the oilfield communications market globally. 

Alcatel-Lucent, Huawei Technologies, Harris CapRock, Inmarsat, and ERF Wireless are some of the prominent players which are providing reliable oilfield communication solutions and services. It is forecast that the global oilfield communications market to grow from USD 2.6 Billion in 2015 to USD 3.7 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period of 2015-2020. Over the next 5 years, this market is expected to experience high traction in North America (NA), and the Middle East and Africa (MEA) regions. 

For more information go to:  http://www.researchandmarkets.com/research/z83ldp/oilfield