Oil and Gas Cloud Applications Market Scope
Oil & gas sector deals with an enormous volume of data, which is significantly sensitive, as it constitutes the national income of many countries. Cloud applications are solutions based on the SaaS platform for storing and accessing critical data. The software solutions offered by cloud-based service providers specifically for oil & gas industry is termed as oil & gas cloud applications. These solutions consist of different offerings from web hosting services offered by local providers to integrated technologies provided by large enterprises with excellent infrastructure. Based on the operation, the market has been bifurcated into upstream, midstream, and downstream.
According to AMA, the Global Oil and Gas Cloud Applications market is expected to see growth rate of 13.34%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Oil and Gas Cloud Applications market throughout the predicted period.
IBM (United States), Oracle (United States), Microsoft (United States), SAP (Germany), Salesforce (United States), Aspentech (United States), Dassault Systèmes (France), Workday, Inc. (United States), ABB (Switzerland) and IFS AB (Sweden) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Infor (United States), Seven Lakes Technologies (United States), Bentley Systems (United States), Aucerna (United States), TIBCO (United States), Sage Software Solutions (India) and Quorum Business Solutions, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Oil and Gas Cloud Applications market and Region with country level break-up.
On the basis of geography, the market of Oil and Gas Cloud Applications has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 7 June 2019, SAP and Accenture, formed a consortium to develop market standards for an industry-specific, public cloud, enterprise resource planning (ERP) solution that can be used by oil and gas companies around the world.
On 4 March 2019, ABB launched versatile ABB Ability Wellhead Manager to optimize oil and gas operations worldwide.
Market Drivers
- Growing Adoption of Private Cloud for Encrypting Data and Lowering Operational Costs
- Growing Demand for Mobility-Enabled Cloud Applications to Gain Real-Time Visibility of Oil and Gas Operations
Opportunities
- Maximizing Productivity of Assets and Workforce by Leveraging Advanced Technologies
- Growing Investments in Digital Technologies to Create Digital Oilfields
Restraints
- Stringent Government Rules Coupled With Regulatory Compliances
Challenges
- Growing Data Security Concerns May Pose Major Challenge for the Market
Key Target Audience
Oil & Gas Cloud Applications Providers, Potential Technology Investors, Regulatory & Government Bodies, End Users, Downstream Vendors, Research & Consulting Firms and Others