We won’t lie – 2018 was a hard year for satellite players with an interest in the Energy Markets. Commodity pricing for energy products was weak or unstable, global economic activity shrank, and energy customers had their own financial challenges. So – in the face of ongoing macro-economic challenges, why does NSR continue to be so optimistic around a 2020 turnaround?
NSR’s Energy SATCOM Markets, 8th Edition (ESM8) report, released today, forecasts retail revenues for key energy markets (Onshore and Offshore Oil & Gas, Midstream pipeline distribution, Mining, and Electrical Utilities) to yield nearly $10 Billion in cumulative revenues from 2018 – 2028.
As digitalization continues to move across the O&G sector, new sources and production capacity continues to come online. “Big Data” and real-time data are fundamentally transforming the how of Oil & Gas exploration & production — pushing more bi-directional transfer of information from well to HQ. With all of this data information, VSAT Broadband connectivity.
With global Oil & Gas markets still showing signs of instability, can the satellite communications industry continue to cite Energy markets as a ‘key vertical?’ Even in this ‘downturn’ there are opportunities, right? Regardless of oil pricing trends, there are clear needs for communications, and data-driven innovation across the Energy market value-chain – from ‘big.
NSR’s ongoing coverage of the energy market moves beyond deep-water, and explores some of the easy to overlook trends in the onshore sector, the mining industry, and electrical utilities. From pipelines to smart grids, mining and onshore O&G, opportunities exist across the energy vertical in all corners of the world – more than just deeper.