The oil and gas industries have huge data that need to be a store, and cloud application is the software that stores the data. Increasing oil and gas industry demand for the oil and gas cloud application market. Rising need for data storage and accessing data also help to propel the growth of the oil and gas cloud application market. Oil and gas cloud applications solutions comprise different offerings from web hosting services to integrate technologies by the various enterprises; also, this application runs at meager operational cost. This factor drives the growth of the oil and gas cloud applications market.
MARKET SCOPE
The "Global Oil and Gas Cloud Applications Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the oil and gas cloud applications market with detailed market segmentation by deployment type, solution, operation, and geography. The report provides key statistics on the market status of the leading oil and gas cloud applications market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on deployment type, the global oil and gas cloud applications market is segmented into private cloud and public cloud.
- On the basis of solution, the market is segmented into ERP (Enterprise Resource Planning), HCM (Human Capital Management), CRM (Customer Relationship Management), project management, and others.
- Based on operation, the market is segmented into upstream, midstream, and downstream.
MARKET DYNAMICS
Drivers:
- The oil and gas industry has a huge amount of data, which is very sensitive and plays a major role in the contribution of the growth of the country. Additionally, the oil and gas industries need real-time data from the field. This cloud technology provides real-time data and stores huge data securely owing to this fact, the adoption of oil and gas cloud applications rising globally.
- The rising need for cost optimization is also fueling the market growth of the oil and gas cloud application market. This cloud application helps various oil and gas companies to have solutions for their problems and have quick access to data created in upstream, midstream, and downstream activities that rising demand for the oil and gas cloud applications market.
Restraints:
- Data privacy and security concerns may hinder the growth of the oil and gas cloud applications market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The oil and gas cloud applications 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 market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST 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 cloud applications market in these regions.
IMPACT OF COVID-19 ON OIL AND GAS CLOUD APPLICATIONS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the oil and gas cloud applications 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 partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from oil and gas cloud applications market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oil and gas cloud applications market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Accenture
- Capgemini
- Cisco Systems Inc.
- Hewlett Packard Enterprise Development LP
- IBM
- Microsoft
- Oracle
- SAP SE
- TABLEAU SOFTWARE, LLC, A SALESFORCE COMPANY.
- TIBCO Software Inc.