Oil and Gas Analytics Market Key Highlights:
- Market Size (2024): USD 23,139 Million
- Projected Market Size (2034): USD 1,45,674 Million
- CAGR (2024-2034): 20.2%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies
Oil and Gas Analytics Market Definition
Oil and gas analytics, also known as oilfield analytics, is an intelligent utilization of big data analytics in the oil and gas industry which helps perform various operations such as exploration, drilling, production operations, analysing seismic and micro seismic data, improving reservoir characterization and simulation, asset management and occupational safety. This helps in different stages of oil exploration, production, and transportation. The significant shift towards research and development to increase digitalization is driving the oil and gas analytics market. Big data allows better asset management, manufacturing, operation, and worker safety. The industry has noted a level up with the deployment of hosted services to gather real-time data at a lower cost and augment production efficiently.
Existing technological resources and systems are the reason behind low data quality. Therefore, data integration creates a major drawback to data quality and the ability to analyse the data. This issue is resolved by the analysts, manager, or other professional experts by managing analytics through specific functions or departments which leads to an integrated approach to end-to-end workflow. Regionally, North America holds the leading position in the market due to the increasing investments in E&P businesses, leading to new opportunities.
Oil and Gas Analytics Market Segmentation:
By Type
- Hardware
- Software
- Services
By Application
- Oil Industry
- Natural Gas Industry
- Other
Oil and Gas Analytics Market Companies:
- Hewlett-Packard
- Hitachi
- IBM
- Northwest Analytics
- Oracle
- SAP
- SAS Institute
- Tableau Software
- Teradata
- Tibco Software
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