The "Global Offshore Oil & Gas Communications Market - Segmented by Solutions, Communication Network Technology, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The offshore oil & gas communications market is projected to grow at a compound annual growth rate (CAGR) of 7.2% over the forecast period 2018-2023. The scope of the report includes solutions & communication network technology. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Communications between offshore facilities and onshore locations some time back were limited to a two-way radio and daily reports. Oilfield workers stationed offshore were cut off from the rest of the world virtually. However, with advancements in communication technologies, the way the offshore industry works has been transformed.

iStock 921370828Telecom-based Technological Growth to Drive the Market

Offshore communications have come a long way. Now the real-time communication networks not only allow for personal cell phone use and Wi-Fi connectivity, but also provide real-time transfer of offshore data to onshore offices. Allowing for totally subsea developments and remote unmanned, offshore industry works have been transformed by improved communication systems.

There are several communication technologies that can now work singly or in a system to solve offshore communications challenges. The most commonly chosen solution for offshore communications are satellite communications, which require a VSAT at the offshore site and are used many times for vessels that may be in extremely remote locations or on the move. With the help of microwave telecommunications technology, data is transported via wavelengths that measure less than one meter in length. These microwave solutions are chosen for locations that are within proximity to each other. Fiber optical telecommunications are chosen for locations that are in high traffic areas, such as the North Sea or US Gulf of Mexico. Even cellular telecommunications services can be accessible at some places offshore. US Gulf of Mexico has cellular towers installed offshore that allow these cellular communications from rigs and platforms near the coast to onshore locations. All these technologies will lead to the growth of the offshore oil & gas communications market.

North America is Expected to Dominate the Market

North America is expected to be most attractive region and will hold largest market share in the offshore oil & gas communications market over the forecast period. This region is said to be the pioneer in this market as it is also the largest oil & gas producer, with companies seeking advanced digital solutions for offshore field operations. The US accounts for largest market share in this region. Besides, capital spending on the oil & gas industry will increase in 2018, which will trigger the growth of the offshore oil & gas communications market.

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