Oil and gas analytics market to be worth $19.65 billion by 2019
Dallas, TX – A new report from Markets and Markets, Oil and Gas Analytics Market by Software (Upstream, Midstream, and Downstream), by Deployment Model, by Services, and by Regions - Forecasts and Analysis (2014 - 2019), defines and...
Dallas, TX – A new report from Markets and Markets, Oil and Gas Analytics Market by Software (Upstream, Midstream, and Downstream), by Deployment Model, by Services, and by Regions – Forecasts and Analysis (2014 – 2019), defines and divides the computer graphics market into several sub-segments along with a detailed analysis and forecasting of revenues generated from each division. It also provides a detailed insight into the drivers and restraints for the market and identifies the opportunities, challenges and ongoing market trends.
The oil and gas analytics market is estimated to grow from $4.29 billion in 2014 to $19.65 billion in 2019 at a compound annual growth rate of 35.5% from 2014 to 2019. On geographical grounds, Middle-East and Africa is forecasted to be the biggest market for the oil and gas analytics market, followed by North America.
The report contains 75 market data tables and 39 figures spread through 149 pages.
Analytics solutions for the oil and gas industry help to gain a holistic view of operations, and help operators to keep pace with markets, customer needs and regulations. Oil and gas analytics software allows companies to understand the dependencies and objectives, and to meet their target by analyzing the complete project lifecycle. Moreover, it allows them to improve operation and enhance productivity, examine supply chain performance and verify the root cause of production loss.
The drivers for this market are global demand for oil and gas, untapped value of big data in the oil and gas industry, and the asset-intensive nature of the oil and gas industry. The restraints for this market are the price volatility in the oil and gas market, stringent regulations and compliances over the industry, harsh climatic conditions, and communication links. Cloud analytics and the evolution of digital oilfields have been acknowledged as opportunities in this market, while depleting oil and gas reserves, and an aging workforce are the major challenges.
The report has divided the oil and gas analytics market by software — software used in upstream, midstream and downstream; by deployment platform — on-premise and hosted; by services: by professional services, integration services and cloud services; by regions — North America, Europe, Asia Pacific, Latin America and Middle-East and Africa.