Oil & Gas Cloud Application Market Size, Share and Forecast 2026
The market valuation of global oil & gas cloud application market stood at USD xx million in 2018. The forecasted cost in 2025 is USD xx million. The expected CAGR is xx% during the forecasting period (2019-2026).
(EMAILWIRE.COM, September 10, 2019 ) Market Overview
• The market valuation of global oil & gas cloud application market stood at USD xx million in 2018. The forecasted cost in 2025 is USD xx million. The expected CAGR is xx% during the forecasting period (2018-2025).
Market Dynamics
• This market is multiplying due to several factors like increasing need for cost optimization and growing adaption rate of cloud in oil & gas industry.
• However, increasing concerns over the security of data are restraining the growth of the market.
• As the oil and gas industry is becoming demanding and more complex, the cloud computing technologies help in improving efficiency, lower costs and enable new opportunities are leading to the growth of the market.
• There are several benefits of cloud computing in the oil & gas industry such as improved speed & skill, transforming the economics of IT, delivering IT without boundaries and building an endurable customer relationship.
Market Segmentation
• The Global Oil & Gas Cloud Application market is segmented by important sector into Upstream, Midstream, and Downstream.
• Based on Solution, the market is segmented into Data Analytics, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Capital Management (HCM), and Others.
• By End-User, the market is segmented into Small & Medium Enterprises and Large Enterprises.
• Further, based on Deployment, the market is segmented into Public, Hybrid, and Private.
Category Insights
• To improve the efficiency of operations in the oil & gas industry, data analytics plays a significant role, reduces the costs and predicts the industry. It also helps analyze the sector thereby helping in making better decisions.
• Many companies started investing in adopting data analytics applications mainly after oil prices declined.
• The upstream sector will grow during the forecast period as it is creating new platforms using big data analytics. They use these analytics to get more insights into unstructured and structured data.
• Also, more storage capacity, unlimited computing with cost-effectiveness are pushing this sector to deploy new cloud services.
Geographical Analysis
• Geographically, the report segments this market into
• North America,
• Asia-Pacific,
• Europe,
• South America,
• and RoW.
Competitive Trends
• In Aug 2017, Microsoft and Halliburton entered into a strategic alliance to drive digital transformations across the oil and gas industry sector.
• In Sept 2017, Schlumberger announced DrillPlan, a digital well construction planning solution that would leverage the benefits of Microsoft Azure and Azure Stack hybrid cloud solution in the oil and gas industry.
Market Report Scope
• The report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The report profiles companies like IBM, SAP, Microsoft, HP, Cisco, TIBCO, Seven Lake Technologies, PetroCloud, WellEz, Tableau, Aspen Technology, and SAS Institute.
View full sample report: https://www.datamintelligence.com/research-report/oil-gas-cloud-application-market
Download free sample: https://www.datamintelligence.com/download-sample/oil-gas-cloud-application-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
• The market valuation of global oil & gas cloud application market stood at USD xx million in 2018. The forecasted cost in 2025 is USD xx million. The expected CAGR is xx% during the forecasting period (2018-2025).
Market Dynamics
• This market is multiplying due to several factors like increasing need for cost optimization and growing adaption rate of cloud in oil & gas industry.
• However, increasing concerns over the security of data are restraining the growth of the market.
• As the oil and gas industry is becoming demanding and more complex, the cloud computing technologies help in improving efficiency, lower costs and enable new opportunities are leading to the growth of the market.
• There are several benefits of cloud computing in the oil & gas industry such as improved speed & skill, transforming the economics of IT, delivering IT without boundaries and building an endurable customer relationship.
Market Segmentation
• The Global Oil & Gas Cloud Application market is segmented by important sector into Upstream, Midstream, and Downstream.
• Based on Solution, the market is segmented into Data Analytics, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Capital Management (HCM), and Others.
• By End-User, the market is segmented into Small & Medium Enterprises and Large Enterprises.
• Further, based on Deployment, the market is segmented into Public, Hybrid, and Private.
Category Insights
• To improve the efficiency of operations in the oil & gas industry, data analytics plays a significant role, reduces the costs and predicts the industry. It also helps analyze the sector thereby helping in making better decisions.
• Many companies started investing in adopting data analytics applications mainly after oil prices declined.
• The upstream sector will grow during the forecast period as it is creating new platforms using big data analytics. They use these analytics to get more insights into unstructured and structured data.
• Also, more storage capacity, unlimited computing with cost-effectiveness are pushing this sector to deploy new cloud services.
Geographical Analysis
• Geographically, the report segments this market into
• North America,
• Asia-Pacific,
• Europe,
• South America,
• and RoW.
Competitive Trends
• In Aug 2017, Microsoft and Halliburton entered into a strategic alliance to drive digital transformations across the oil and gas industry sector.
• In Sept 2017, Schlumberger announced DrillPlan, a digital well construction planning solution that would leverage the benefits of Microsoft Azure and Azure Stack hybrid cloud solution in the oil and gas industry.
Market Report Scope
• The report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The report profiles companies like IBM, SAP, Microsoft, HP, Cisco, TIBCO, Seven Lake Technologies, PetroCloud, WellEz, Tableau, Aspen Technology, and SAS Institute.
View full sample report: https://www.datamintelligence.com/research-report/oil-gas-cloud-application-market
Download free sample: https://www.datamintelligence.com/download-sample/oil-gas-cloud-application-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results