Data Business in Oil and Gas Market Trends, and Forecast, 2018 - 2026

Home

Blog



BUSINESS RESEARCH NEWS Latest Industry Insights

LATEST INDUSTRY NEWS

Data Business in Oil and Gas Market to Partake Signi몭cant Development during 2026 Date: March 3, 2022 Author: Tech News

 0 Comments

According to a new market report published by Transparency Market Research, the global data business in oil and gas market is expected to reach a value of US$ 64,845.8 Mn by 2026 on account of digitization across the oil and gas industry. In the years 2015 to 2017, the oil and gas industry’s CAPEX fell considerably; however, the industry is focusing on technological advancements to nd optimal production techniques for intelligent development of unconventional resources, and to increase the commercial success rates of drilled exploration wells with computer-aided optimization of processes. Investments in oil and gas industry are anticipated to increase gradually from 2018, further driving the digitization across the industry using data science. The market is projected to expand at a CAGR of 18.9% during the forecast period from 2018 to 2026 driven by the increasing adoption of data management & big data software and solutions, and data monetization in the oil and gas industry. North America is anticipated to be the dominant region in the data business in oil and gas market followed by Middle East &

Africa during the forecast period.The upstream application segment is

Follow

expected to observe ourishing growth due to the rising need for enhanced oil exploration and production to maintain the production and to meet the demand in the next decade with suf cient oil and gas discoveries. Request a Sample of Data Business in Oil and Gas Market – https://www.transparencymarketresearch.com/sample/sample.php? ag=S&rep_id=47826 Need for generating value from the large amount of data generated in the oil and gas industry driving the global market The large amount of data generated in the oil and gas industry can be used to discover new oil deposits to meet the global oil and gas demand and to increase operational ef ciencies in the upstream, midstream, and downstream sectors of the industry. From exploration and production to trading and retail, classifying and streamlining the massive amounts of data generated with the data management solutions is necessary to optimize functions and enhance safety standards at every stage in the oil and gas industry. With big data analytics solutions, data is analysed to nd optimum oil drilling locations and to predict success for new oil and gas exploration. Direct data monetization vendors sell seismic data, well data, production data, and geological survey reports to other companies for producing value from these data reports. The data business market is expected to ourish over the forecast period to integrate and interpret large amounts of structured and unstructured data generated daily from exploration, production, and development of oil and gas. Data Business in Oil and Gas Market: Scope of the Report The data business in oil and gas market is segmented based on component, oil companies, application, E&P lifecycle, and geography. Due to increasing digitization in the oil and gas industry, the market is anticipated to experience ourishing growth during the forecast period. By 2026, the upstream

application segment will account for more than 56% of the global data business in oil and gas market due to increasing IT spending in the upstream sector of the oil and gas industry. Exploration is the key segment in the E&P lifecycle of the oil and gas industry driven mainly by deep-water exploration activities, shale gas exploration activities, declining exploration costs, and rising focus on near eld explorations. National Oil Companies (NOCs) are anticipated to have more than 53% market share by 2026. NOCs are increasingly spending on big data and data management software and services, thus accounting for the maximum share in the data business market. Big data software such as data analytics, data collection, data discovery &visualization, and data management software holds the major share in the big data in oil and gas component of the market with data analytics and data management software driving the growth of this segment. Data management component growth is driven mainly by corporate/enterprise data management software. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? ag=B&rep_id=47826 North America is leading the data business in oil and gas market with 36% share globally. The presence of key industry players, increasing oil production, shale oil reserves, and necessary infrastructure in the U.S. is expected to drive the region’s growth. Asia Paci c is expected to be the fastest growing region in the data business in oil and gas market. Increasing oil consumption will drive the need for enhanced oil exploration and production in the APAC region.Increasing adoption of advance technological solutions in the oil and gas industry across GCC countries, Russia, China, Canada, and the U.S is expected to offer prominent opportunities to the market. Global Data Business in Oil and Gas Market: Competitive Dynamics The research study includes pro les of leading companies operating in the

global data business in oil and gas market. Big data software and solution providers such as Accenture, Drillinginfo, Inc., Hitachi Vantara Corporation, Hortonworks, Inc., IBM Corporation, MapR Technologies, Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc., Cloudera, Inc., Palantir Solutions, Capgemini S.A., and OSIsoft LLC; corporate/enterprise data management solution providers such as EMC Corporation, Newgen Software, Inc., Cisco Software, Inc., and Tata Consultancy Services Ltd.; project data management solution providers such as Halliburton, Informatica Corporation, and Schlumberger Limited; and direct data monetization vendors such as National Data Repository, India and ION Geophysical Corporation are some of the key players that have been pro led in this study. Details such as nancials, business strategies, key competitors, recent developments, SWOT analysis, and other such strategic information pertaining to these players have been provided as part of company pro ling. Get COVID-19 Analysis @ https://www.transparencymarketresearch.com/sample/sample.php? ag=covid19&rep_id=47826 The global data business in oil and gas market is segmented as below: Global Data Business in Oil and Gas Market, by Component Big Data Software Data Analytics Data Collection Data Visualization and Discovery Data Management Services Consulting

System Integration Operation and Maintenance Data Management Software Corporate Data Management (CDM)/Enterprise Data Management (EDM) Project Data Management (PDM) National Data Repository (NDR) Services Consulting& Planning Integration& Implementation Operation & Maintenance Direct Data Monetization Global Data Business in Oil and Gas Market, by Oil Companies National Oil Companies (NOCs) Independent Oil Companies (IOCs) National Data Repositories (NDRs) Global Data Business in Oil and Gas Market, by Application Upstream Conventional Unconventional Midstream Downstream

Global Upstream Data Business in Oil and Gas Market, by E&P Lifecycle Exploration Development Production Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php? ag=EB&rep_id=47826 About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail exible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the uni ed market intelligence engine. Sign Up for a 7 day free trial! Contact Rohit Bhisey Transparency Market Research USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Blog: https://tmrblog.com/

Blog: https://tmrblog.com/ Follow Us: Twitter | LinkedIn