Global Oil & Gas Analytics Market is valued approximately USD 19.65 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 35.50% over the forecast period 2020-2027.
Analytical solution for the oil and gas sector will help the related industries in having an aggregate view of their operations, aid in keeping up with the changing market, fulfill dynamic customer needs and adhere to strict government regulations.
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As these solutions help enterprises to better understand the overall lifecycle and work effectively and efficiently with the given resources. Also, the oil and gas analytics helps to identify the source of production loss and to analyze the supply chain performance. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. Increasing consumption of oil and gas in public transports, automobiles, power and aviation sector would drive the growth of the market.
As per the CEIC Organization, China's oil consumption was reported at 14,055 barrel/day in December 2019. This records an increase from the previous number of 13,375 barrel/day for December 2018. The consumption reached an all-time high of 14,055 barrel /day in 2019. Thus, with the growing demand for fuel, oil and gas analytics relying on the emerging technologies. As the analytics tools helps the industry to manage its operations effectively and efficiently. However, price volatility in the oil and gas market is hampering the growth of the market during the forecast period of 2020-2027.
Major market player included in this report are:
- Hitachi, Ltd.
- Hewlett Packard Enterprise Development LP
- Northwest Analytics, Inc.
- SAS Institute Inc.
- TABLEAU SOFTWARE, LLC
The regional analysis of global Oil & Gas Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region as UK, France, and Germany are likely to register major growth rates, owing to the early adoption of digital technology in optimizing oil and gas operations. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Deployment Platform:
- North America
- Asia Pacific
- Latin America
- Rest of the World
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