Oil and gas analytics (a.k.a. "oilfield analytics?) leverages many of the same statistical methods used in other industries to pinpoint patterns among hundreds of variables in constant flux. It uses large amounts of field data and frequently machine learning algorithms to enable predictive analysis and big data insights that operators and managers use to maximize yield, accelerate innovation and reduce risk.
MARKET DYNAMICS
The demand of Oil and Gas Analytics Market is expected to increase due to the continuous exploration of oil and gas resources in different regions. The demand of Oil and Gas Analytics Market is also increasing because of exports from various countries like Middle East & Africa, Latin America, and the Asia Pacific which are major consumers in this market. The decreasing dependency on imported crude oil has led to increased use of natural gas as a substitute fuel by industries such as the power generation industry that support heavy industries. This will lead to higher revenue generation owing to a rise in investments related to production facilities manufacturing equipment required for analytics that helps predict performance trends and failures over time.
MARKET SCOPE
The ?Global Oil and Gas Analytics Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the oil and gas analytics market with detailed market segmentation by services, deployment platform, and application. The global oil and gas analytics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading oil and gas analytics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Services: The global oil and gas analytics market is segmented into professional, integration, and cloud.
2. By Deployment Platform: The global oil and gas analytics market is segmented into on premise, and hosted.
3. By Application: The global oil and gas analytics market is segmented into upstream, midstream, and downstream.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The oil and gas analytics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the oil and gas analytics market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the oil and gas analytics market in these regions.
IMPACTS OF COVID 19
The impact of COVID-19 and the oil prices war are proving to be a two-pronged crisis for oil, gas, and chemicals companies. Oil prices are dropping due to failed agreements on production cuts and the need for chemicals and refined products is slowing from industrial slow-downs and travel restrictions in the wake of this global pandemic.
MARKET PLAYERS
The report covers vital developments in the oil and gas analytics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the oil and gas analytics market are anticipated to have lucrative growth opportunities in the future with the rising demand for oil and gas analytics in the global market. Below mentioned is the list of a few companies engaged in the oil and gas analytics market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oil and gas analytics market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Accenture
- Hewlett Packard Enterprise Development LP
- Hewlett-Packard
- Hitachi
- IBM Analytics
- Microsoft Corporation
- Northwest Analytics, Inc.
- Oracle Corporation
- SAP SE
- TABLEAU SOFTWARE, LLC