Oil and Gas Analytics Market Scope
Oil and Gas Analytics software used to improvise operations, expand the production and find out the main reason for production loss. Also, helps companies to understand market demands, customer need and government regulations in same field. Major factors such as growing demand for oil and gas, the advancements made in technology and the purpose to lower operation and maintenance price are driving the progress in the market. There are various types of oil and gas analytics software including upstream, midstream and downstream software.
According to AMA, the Global Oil and Gas Analytics market is expected to see growth rate of 20.3%The Players having a strong hold in the market are Hewlett Packard, SAS Institute Inc., IBM Corporation, Microsoft Corporation, and Cisco Systems, Inc.. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Oil and Gas Analytics market throughout the predicted period.
Hewlett Packard Enterprise Development LP (United States), SAS Institute Inc. (United States), IBM Corporation (United States), Microsoft Corporation (United States), Cisco Systems, Inc. (United States), Capgemini SE (France), FtaTeradata Corporation (United States), Hitachi Ltd. (Japan), Oracle Corporation (United States) and Drillinginfo Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Accenture (Ireland), SAP SE (Germany), Oracle Corporation (United States) and SAS Institute (United States).
Segmentation Overview
The study have segmented the market of Global Oil and Gas Analytics market , by Application (Upstream, Midstream and Downstream) and Region with country level break-up.
On the basis of geography, the market of Oil and Gas Analytics 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).
Influencing Trend:
Maximized speed of Oil and Gas Drilling as well as Minimized Health and Environmental Risk and Growing Potential of Big Data and Artificial Intelligence in Oil and Gas Analytics
Market Growth Drivers:
Robust Automation and Research and Developments in Oil and Gas Industry and Growing Awareness about the Health, Safety, and Environment Risks
Challenges:
Volatility in Oil and Gas Prices as well as Varying Government Rules and Policies and Continues Technological Advancements and Complex Installation/Reinstallation Operations
Restraints:
Robust Initial Investments Required in Employing Automation in Oil and Gas Analytics and Growing Instances of External Challenges such as Infrastructure Reimbursements, Analytics Services Efficiency
Opportunities:
Stringent Government Regulation to Ensure Safety during Operations Favoring Analytics and Skilled Labors are required in Oil and Gas Analytics Operations
Key Target Audience
Oil and Gas Analytics Service Providers, Oil and Gas Manufacturing Organizations, Petroleum Industry Organizations, Oil and Gas Importers and Exporters, Government Agencies, Research and Development Organizations and Others
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 the total available market.