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The intelligent well completion market is expected to grow at a CAGR of more than 1.0% over the period of 2020-2025
Factors such as increasing production from conventional and unconventional resources and reducing maintenance costs of the well are expected to drive the market. However, volatility in crude oil and natural gas prices may restrain the growth of the market.
Oil and gas production is expected to continue to be a vital part of meeting global energy demand, and the offshore segment is expected to grow fastest in the forecast period. Increasing advancements in technologies are expected to aid the growth of the segment.