Press Releases

Oil and Gas Analytics Market Growth at a CAGR of 15.3% from 2021 to 2030

The global Oil and Gas Analytics market size is expected to reach USD 50 billion by 2030, registering a CAGR of 15.3% over the forecast period 2021 – 2030.

Download Exclusive Sample of Report@ https://www.visionresearchreports.com/report/sample/38442

Large amounts of field data and machine learning algorithms are used in oil & gas analytics to enable predictive analysis and Big Data insights. Oil & gas analytics operators and managers use this data to maximize yield, accelerate innovation, and reduce risks.

Unconventional oil & gas includes shale gas, tight gas, gas hydrates, and coal bed methane. Unconventional oil & gas has been an important breakthrough for the global oil industry. Oil & gas analytics help producers extract unconventional fuels. Companies are investing significantly in research and development, along with adoption of oil & gas analytics software to come up with optimal methods of extraction. Thus, production of unconventional fuels is expected to augment the global oil & gas analytics market in the near future.

Report Highlights

Based on service, the professional segment held a prominent share of the global oil & gas analytics market in 2020, as professional service provides the choice of personalized advisory services for solutions by using case definition, planning, and build activities through analytics expertise and methodology and tools.

In terms of deployment, the hosted segment accounted for a major share of the global oil & gas analytics market in 2020.

Based on application, the upstream segment constituted significant share of the global oil & gas analytics market in 2020. The demand for upstream services is high among oil & gas companies.

North America dominated the global oil & gas analytics market in 2020. Growth of the oil & gas analytics market in the region can be ascribed to the ongoing investment in development of shale gas reserves. According to BP Statistical Review, North America was the second-largest producer of oil and the largest producer of gas in the world in 2020. North America achieved this feat through increase in production of shale oil & gas in the U.S. This has resulted in the U.S. becoming a net exporter of crude oil for the first time in a decade.

The oil & gas analytics market in Middle East & Africa is estimated to witness significant growth during the forecast period. Middle East & Africa was the largest producer of crude oil and the third-largest producer of natural gas in 2020. Rise in investments in the oil & gas industry in the Middle East & North Africa is likely to augment the oil & gas analytics market in the region in the near future.

Europe is estimated to be a highly attractive region of the global oil & gas analytics market during the forecast period. Russia & CIS countries accounted for major share of the market in Europe in 2020. Europe is the third largest oil producer and second largest gas producer in the world.

Rise in Demand for Analytics in Oil & Gas Industry to Offer Lucrative Opportunities for Global Oil & Gas Analytics Market

Oil & gas analytics services have been used in the oil & gas industry since many years. However, applications of analytics in the oil & gas industry have been limited in the past. The oil & gas industry started adopting oil & gas analytics services on a wide scale from 2014, primarily due to the plummeting oil & gas prices and need for optimization of operations.

The oil & gas industry constantly faces the challenge of resource optimization and supply-demand gap. Oil & gas industry players have started adopting newer technologies and processes to optimize operations; and improve profits in the period of low oil prices and increasing costs of E&P activities.

Adoption of oil & gas analytics solutions is one of the highly feasible and practical approaches for the challenges faced by the oil & gas industry. Most of the major players in the oil & gas industry have been adopting analytics services for resource optimization and for bridging the gap between demand and supply.

Small- and medium-scale players in the oil & gas industry are likely to adopt analytics services in the near future, owing to the constant improvements in technology and increase in integration of large-scale data

Thus, demand for analytics in the oil & gas industry is estimated to rise at a fast pace during the forecast period. This is likely to provide lucrative opportunities for the oil & gas analytics market during the forecast period.

Data Integration across Oil & Gas Fields Help in Cost Saving

Predictive analytics in the oil & gas industry is found to reduce risk and facilitate fast decision-making. Teradata Corporation-a provider of database and analytics-related software is increasing its portfolio in oil & gas analytics to offer users a holistic view of their data points regarding drilling and completions, production, and refining. Companies in the oil & gas analytics market are increasing their focus in drill bit failure analysis and enterprise analytics applications to eliminate the complexity of enterprise application integration.

Attaining real-time visibility and control over maintenance costs has helped to create incremental opportunities for oil & gas analytics providers. As such, data integration has become increasingly important for end-users, as platforms help to in-sync data from all sources such as rigs, field assets, sensors, and plants.

IoT-enabled Connected Devices Exhibit Data Transformation in Oil & Gas Analytics

Despite having vast data sources, end-users lack the right tools and expertise to track various data points of oil & gas analytics. Hence, companies are upgrading IT (Information Technology) platforms so that end users can seamlessly track the data points of oil & gas analytics.

Bizmetric-a technologically driven company exhibiting data transformation is helping its oil & gas clients deploy IoT (Internet of Things)-driven applications in today’s digitized era. The involvement of connected devices is one of the key factors for the deployment of IoT in oil & gas analytics. Sensor-enabled devices deliver accurate information in data prediction.

Key Players

Prominent players operating in the global oil & gas analytics are IBM Analytics, Accenture, Oracle Corporation, SAP SE, Microsoft Corporation, Hewlett Packard Enterprise Development LP, Northwest Analytics, Inc. ,and TABLEAU SOFTWARE, LLC

Report Highlights Details
Market Size US$ 50 billion by 2030
Growth Rate CAGR of 15.3% From 2021 to 2030
Base year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Service, Deployment, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned IBM Analytics, Accenture, Oracle Corporation, SAP SE, Microsoft Corporation, Hewlett Packard Enterprise Development LP, Northwest Analytics, Inc. ,and TABLEAU SOFTWARE, LLC

Market Segmentation

Market By Service

  • Professional
  • Cloud
  • Integration

Market By Deployment

  • On-premise
  • Hosted

Market By Application

  • Upstream
  • Midstream
  • Downstream

Market By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Italy
    • Norway
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • Iran
    • UAE
    • Kuwait
    • Nigeria
    • Rest of Middle & Africa
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America

Buy this Research Report study@ https://www.visionresearchreports.com/report/cart/38442

Research Methodology

The research methodology adopted by analysts for compiling the global oil and gas analytics market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global oil and gas analytics market.

Table of Contents

Chapter 1.   Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.   Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.   Executive Summary

3.1.  Market Snapshot

Chapter 4.   Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.     Raw Material Procurement Analysis

4.3.2.     Sales and Distribution Channel Analysis

4.3.3.     Downstream Buyer Analysis

Chapter 5.   Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.     Market Drivers

5.1.2.     Market Restraints

5.1.3.     Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.     Bargaining power of suppliers

5.2.2.     Bargaining power of buyers

5.2.3.     Threat of substitute

5.2.4.     Threat of new entrants

5.2.5.     Degree of competition

Chapter 6.   Competitive Landscape

6.1.1.     Company Market Share/Positioning Analysis

6.1.2.     Key Strategies Adopted by Players

6.1.3.     Vendor Landscape

6.1.3.1.          List of Suppliers

6.1.3.2.          List of Buyers

Chapter 7.   Global Oil and Gas Analytics Market, By Service

7.1.  Oil and Gas Analytics Market, by Service, 2021-2027

7.1.1.     Professional

7.1.1.1.          Market Revenue and Forecast (2016-2027)

7.1.2.     Cloud

7.1.2.1.          Market Revenue and Forecast (2016-2027)

7.1.3.     Integration

7.1.3.1.          Market Revenue and Forecast (2016-2027)

Chapter 8.   Global Oil and Gas Analytics Market, By Deployment

8.1.  Oil and Gas Analytics Market, by Deployment, 2021-2027

8.1.1.     On-premise

8.1.1.1.          Market Revenue and Forecast (2016-2027)

8.1.2.     Hosted

8.1.2.1.          Market Revenue and Forecast (2016-2027)

Chapter 9.   Global Oil and Gas Analytics Market, By Application

9.1.  Oil and Gas Analytics Market, by Application, 2021-2027

9.1.1.     Upstream

9.1.1.1.          Market Revenue and Forecast (2016-2027)

9.1.2.     Midstream

9.1.2.1.          Market Revenue and Forecast (2016-2027)

9.1.3.     Downstream

9.1.3.1.          Market Revenue and Forecast (2016-2027)

Chapter 10.       Global Oil and Gas Analytics Market, Regional Estimates and Trend Forecast

10.1.         North America

10.1.1.  Market Revenue and Forecast, by Service (2016-2027)

10.1.2.  Market Revenue and Forecast, by Deployment (2016-2027)

10.1.3.  Market Revenue and Forecast, by Application (2016-2027)

10.1.4.  U.S.

10.1.4.1.       Market Revenue and Forecast, by Service (2016-2027)

10.1.4.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.1.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.1.5.  Rest of North America

10.1.5.1.       Market Revenue and Forecast, by Service (2016-2027)

10.1.5.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.1.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.         Europe

10.2.1.  Market Revenue and Forecast, by Service (2016-2027)

10.2.2.  Market Revenue and Forecast, by Deployment (2016-2027)

10.2.3.  Market Revenue and Forecast, by Application (2016-2027)

10.2.4.  UK

10.2.4.1.       Market Revenue and Forecast, by Service (2016-2027)

10.2.4.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.2.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.5.  Germany

10.2.5.1.       Market Revenue and Forecast, by Service (2016-2027)

10.2.5.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.2.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.6.  France

10.2.6.1.       Market Revenue and Forecast, by Service (2016-2027)

10.2.6.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.2.6.3.       Market Revenue and Forecast, by Application (2016-2027)

10.2.7.  Rest of Europe

10.2.7.1.       Market Revenue and Forecast, by Service (2016-2027)

10.2.7.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.2.7.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.         APAC

10.3.1.  Market Revenue and Forecast, by Service (2016-2027)

10.3.2.  Market Revenue and Forecast, by Deployment (2016-2027)

10.3.3.  Market Revenue and Forecast, by Application (2016-2027)

10.3.4.  India

10.3.4.1.       Market Revenue and Forecast, by Service (2016-2027)

10.3.4.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.3.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.5.  China

10.3.5.1.       Market Revenue and Forecast, by Service (2016-2027)

10.3.5.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.3.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.6.  Japan

10.3.6.1.       Market Revenue and Forecast, by Service (2016-2027)

10.3.6.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.3.6.3.       Market Revenue and Forecast, by Application (2016-2027)

10.3.7.  Rest of APAC

10.3.7.1.       Market Revenue and Forecast, by Service (2016-2027)

10.3.7.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.3.7.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.         MEA

10.4.1.  Market Revenue and Forecast, by Service (2016-2027)

10.4.2.  Market Revenue and Forecast, by Deployment (2016-2027)

10.4.3.  Market Revenue and Forecast, by Application (2016-2027)

10.4.4.  GCC

10.4.4.1.       Market Revenue and Forecast, by Service (2016-2027)

10.4.4.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.4.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.5.  North Africa

10.4.5.1.       Market Revenue and Forecast, by Service (2016-2027)

10.4.5.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.4.5.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.6.  South Africa

10.4.6.1.       Market Revenue and Forecast, by Service (2016-2027)

10.4.6.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.4.6.3.       Market Revenue and Forecast, by Application (2016-2027)

10.4.7.  Rest of MEA

10.4.7.1.       Market Revenue and Forecast, by Service (2016-2027)

10.4.7.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.4.7.3.       Market Revenue and Forecast, by Application (2016-2027)

10.5.         Latin America

10.5.1.  Market Revenue and Forecast, by Service (2016-2027)

10.5.2.  Market Revenue and Forecast, by Deployment (2016-2027)

10.5.3.  Market Revenue and Forecast, by Application (2016-2027)

10.5.4.  Brazil

10.5.4.1.       Market Revenue and Forecast, by Service (2016-2027)

10.5.4.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.5.4.3.       Market Revenue and Forecast, by Application (2016-2027)

10.5.5.  Rest of LATAM

10.5.5.1.       Market Revenue and Forecast, by Service (2016-2027)

10.5.5.2.       Market Revenue and Forecast, by Deployment (2016-2027)

10.5.5.3.       Market Revenue and Forecast, by Application (2016-2027)

Chapter 11.  Company Profiles

11.1.                 IBM Analytics

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.                 Accenture

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.                 Oracle Corporation

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.                 SAP SE

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.                 Microsoft Corporation

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.                 Hewlett Packard Enterprise Development LP

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.                 Northwest Analytics, Inc.

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.                 TABLEAU SOFTWARE

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

Chapter 12.  Research Methodology

12.1.                 Primary Research

12.2.                 Secondary Research

12.3.                 Assumptions

Chapter 13.  Appendix

13.1.                 About Us

13.2.                 Glossary of Terms

Buy this Research Report study@ https://www.visionresearchreports.com/report/cart/38442

Contact Us:

Vision Research Reports

Call: +1 9197 992 333

Email: sales@visionresearchreports.com

Show More

Related Articles

Back to top button