Oil and Gas Analytics Market

25 Feb

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Oil and Gas Analytics Market Poised to Grow at a CAGR of 20% by 2024

  • By admin

  • January, 1970

Infinium Global Research has ad ded a new report on Oil and Gas Analytics Market. The report presents analysis of global as well as regional markets of Oil and Gas Analytics Market over the period of 2016 to 2024. Oil and gas is a data driven industry where data form an integral part of exploration and drilling program, or in using smart metering and supervisory control and data acquisition (SCADA) systems in midstream, the industry heavily depends on IT and data analytics to increase the speed of finding oil, enhance oil recovery, and reduce health, safety, and environment risks that arise due to equipment failure or operator error. Oil and gas companies exist in a rapidly changing environment. There are many external challenges which an oil and gas company can face such as new methods for extracting energy, alternative forms of energy that can enter the market and create an oversupply, and so on. Moreover, political disturbances too can create shortages. While facing such uncertainty, many companies place emphasis on better asset management and control. Apart from maintaining effective and efficient oil and gas exploration it is important to have favorable environment track record and maintain good public and government relations. In addition, gaining government approval for new exploration and production remains top priorities for good business scope. The potential for Big data and analytics lies in accessing the amount of new and untapped data, thereby enabling the use of data across disciplines.

 

Untapped value of big data in the oil and gas industry is the factor driving the growth of the oil and gas analytics market. In addition, increase in demand for oil & gas, and advancements in technology to lower the operation and maintenance cost are the factors fuelling the growth of the oil and gas analytics market. Strict government regulation to ensure safety during operation will further complement the industry growth. However, harsh climatic conditions, and communication links and price volatility in oil and gas market is likely to restrain the growth of the oil and gas analytics market. Furthermore, Evolutions of digital oilfields and cloud analytics are anticipated to create immense growth opportunities for the key players in the oil and gas analytics market. The continuous adoption of advanced analytics solutions among energy companies has helped the key production. This is a key factor boosting the uptake of oil and gas analytics.


 

Among the geographies, North America dominated the Oil and Gas Analytics Market .The majority of share is held by U.S owing to the high process rate of oil and gas exploration and production. North America is also one of the regions where the oil price slump has triumph the hardest and has been a major enabler of analytics implementation. This region is showing a major demand in upstream analytics, due to a rapid increase in exploration and production of unconventional oil and shale gas. As for the Asia Pacific, oil and gas analytics a rapidly strengthening, the IT industry is gaining necessity from the region’s oil and gas sector. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global Oil and Gas Analytics Market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.

 

 

Get 15% discount for early purchase of global Oil and Gas Analytics Market report by clicking the following link, Use code IGRD15 to request the discount in the given form

 

https://www.infiniumglobalresearch.com/reports/request-discount/1553

 

The recent report identified that North America dominated the global Oil and Gas Analytics Market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the Oil and Gas Analytics Market worldwide.

The report segments the global Oil and Gas Analytics Market on the basis of services, Deployment and Application.

 

Global Oil and Gas Analytics Market by Services

·         Professional

·         Cloud

·         Integration

·         Big Data and Predictive Analytics

 

Global Oil and Gas Analytics Market by Deployment

·         On Premise

·          Hosted

 

Global Oil and Gas Analytics Market by Application

·         Upstream

·         Midstream

·         Downstream

 

Companies Profiled in the Report

·         Hewlett Packard Enterprise Development LP

·         SAS Institute Inc.

·         IBM

·         Microsoft

·         Cisco Systems, Inc.

·         Capgemini

·         Teradata, Hitachi

·         Oracle

·         Drillinginfo Inc.

·         Accenture

 

About Infinium Global Research

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.

Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.