Oil and Gas Project Management Software Market Scope
Oil & gas project management software is designed to help oil & gas companies to track milestones and optimize resources for expansion into new markets, large exploration, and capital investments. The oil and gas project management software market is anticipated to register significant growth in the near future owing to the increasing need for reducing complexities involved in the operations of the oil & gas industry. Moreover, growth in oil and gas exploration activities worldwide further expected to drive the demand for oil and gas project management software over the forecasted period.
According to AMA, the Global Oil and Gas Project Management Software market is expected to see growth rate of 3.48%
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Oil and Gas Project Management Software market throughout the predicted period.
Deltek, Inc. (United States), EcoSys Management LLC (United States), Oracle Corporation (United States), Liquid Frameworks, Inc. (United States), SAP SE (Germany), Penta Technologies, Inc. (United States), Siemens AG (Germany), IBM Corporation (United States) and InEight, Inc. (United States) are some of the key players that are part of study coverage.
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 Project Management Software market by Type (Asset Management, Scheduling, Inventory Management, Costing, Analytics, Contract Management, Maintenance and Others), by Application (Upstream, Mid & Downstream, On-shore and Off-shore) and Region with country level break-up.
On the basis of geography, the market of Oil and Gas Project Management Software 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 Trend
- Emphasizing On Simplifying Complexity Involved In Operations of Oil & Gas Industry
Market Drivers
- Emergence of Technologies Such As Advanced Analytics and Big Data
- Government Initiatives for Digital Transformation in Oil and Gas Industry
Opportunities
- Growth in Oil and Gas Industry
- Rising Demand from the Developing Economies
Restraints
- Increasing Data Security Concerns
- Lack of Skilled Workforce
Challenges
- Emergence of Alternative Fuels and Electric Vehicles Affecting the Profitability of Oil and Gas Companies
Key Target Audience
Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others