Global Oil and Gas Analytics MarketPosted by geeta on December 12th, 2020 Global Oil and Gas Analytics Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 18 % during a forecast period. Global Oil and Gas Analytics Market
An increase in demand from refineries for petroleum products is expected to drive the oil and gas analytics market during the forecast period. Some of the many prominent oil & gas key players are adopting digital technologies to enhance their productivity and reduce costs and also focus to fulfill the increasing need for fossil fuels. The adoption of analytic tools is expected to increase production efficiency by 6% to 8%, which will stimulate the oil and gas analytics industry size US$ XX Mn. Also, the implementation of strict operational safety norms by the government is expected to boost market growth. Oil and Gas Analytics solution offers the sophistication of platforms and mobility, surveillance, connectivity and storage technologies with the capability to process and analyse data rapidly and also helps to enhance agility and support real-time decision making and execution. The upstream application in the oil and gas analytics industry was valued at US$ XX Bn by 2019 and is projected to register a noticeable growth rate of more than XX % during the forecast period. The growth in the market can be attributed to factors like rising in the prevalence of unconventional and offshore drilling activities. Many of the Oil and Gas key players are focusing on the implementation of the analytics tools to find out real-time data at minimized cost and adoption of the digital technologies with a focus on better understanding a reservoir’s resource and production potential. Currently, Oil and gas key players are preferring cloud as a powerful enabler, which helps to increase the lifespan, uptime, and reliability of plant and infrastructure and increases returns. These players are implementing professional, cloud-based, and integration analytics services to find real-time information. Among these, the cloud-based services are expected to grow at a XX% rate of CAGR during the forecast period. Being one of the critical sectors, the oil and gas industry, analytics solutions comes with huge potential applications for surveying, planning or facility management, and creating a security framework. High investments in start-ups for AI implementation is expected to drive the growth in the market. Some of the factors like cheap sensors, widening connectivity and computing power are driving the data collection by Oil and Gas companies. The modern offshore drilling platforms have nearly about the 80,000 sensors, which are expected to generate approximately 15 petabytes of data. The data interpretation is in enormous demand. By region, the North America region held the dominant position in the oil and gas analytics market and is projected to continue its dominant position in the global oil and gas analytics market. The U.S. contributes the majority of share in the market because of the high process rate of oil and gas exploration and production. The region is a major enabler of analytics implementation. The rapid increase in the exploration and production of unconventional oil and shale gas in the region is driving the growth in the market. The United States is expected to increase liquid hydrocarbon production with the help of shale oil, development of deep-water shelf, and growth in NGL production. The oil and gas companies are concentrating on the reengineering their production strategies and operational models to transform their businesses. Multiple analytics and software start-ups have upraised funding to increase energy production. With the strategic use of analytics, oil and gas key players are achieving high degrees of confidence, which is required to make ground-breaking, profitable decisions. Huge corporations are striving to introduce technological advancements to improve their production efficiency and performance. For instance, Deloitte has developed novel oil and gas analytics solutions, which work much faster over conventional solutions and supports data flow architecture. The objective of the report is to present a comprehensive analysis of Global Oil and Gas Analytics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Oil and Gas Analytics Market dynamics, structure by analysing the market segments and project the Global Oil and Gas Analytics Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Oil and Gas Analytics Market make the report investor’s guide. For More Information Visit :https://www.maximizemarketresearch.com/market-report/global-oil-and-gas-analytics-market/52056/
Global Oil and Gas Analytics Market, By Deployment Platform • On-Premise • Upstream • Professional Services • North America • Royal Dutch Shell This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Name: Lumawant Godage Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD. Email: sales@maximizemarketresearch.com Address : Pune, Maharashtra 411051, India. Contact: +919607195908
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