HOME Top Market Reports Oil and Gas Analytics Market by Software (Upstream, Midstream, and Downstream), by Deployment Model, by Services, and by Regions - Forecasts and Analysis (2014 - 2019)

Oil and Gas Analytics Market by Software (Upstream, Midstream, and Downstream), by Deployment Model, by Services, and by Regions - Forecasts and Analysis (2014 - 2019)

By: marketsandmarkets.com
Publishing Date: September 2014
Report Code: TC 2709

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The global oil and gas industry is at a crossroad over the depleting oil and gas reserves worldwide. New challenges arise and are addressed through conventional technologies. The rising global demand for fuel, increasing competition, financial capital and public scrutiny and regulations are a few of the severe challenges faced today. The falling crude oil reserves and the dynamic supply and demand are responsible for the price volatility of crude oil. New exploration and extraction techniques are on the rise for new types of hydrocarbons. The emerging technologies in the oil and gas industry generate a huge volume of operational and financial data. The use of various analytical engines helps to turn growing amounts of data into insights yielding profitability. The use of advanced business intelligence and analytics tools in the oil and gas industry would lead to efficient and effective operations. The Oil and Gas Analytics market thus shows a growing trend with many oil companies transforming their conventional practices into an analytical performance-powered approach.

Today, the oil and gas companies have swiftly turned towards the use of advanced information and communication technologies (ICT) to face the challenges gripping the industry. Huge data volumes (Big Data) are generated in the operations of the upstream, midstream and downstream segments of oil and gas companies. This data could be transformed into crucial information and insights yielding greater efficiency, productivity and profitability to the companies. The advanced solutions like business intelligence and big data management and analytics have transformed the conventional management into fact-based decision driven management. The oil companies face organizational data challenges like poor data quality, data integration, data irrelevancies, data ownership and limited visibility. The new-age big data analytics solutions have overcome the fragmented framework into unified data architecture to address the organizational data challenges.

The oil and gas analytics market shows a positive growth in the prospective years with more oil companies resolving to achieve lower operation and maintenance costs. Analytical framework systems such as SAP HANA and Apache Hadoop provide support for various analytical software and technologies. The oil and gas analytics spectrum provides various solutions for upstream, midstream and downstream operations. The geospatial and exploration analytics solutions help oil companies search new oil reserves in remote geographies. The infrastructure analytics solutions provide construction insights for extraction and drilling infrastructure and oil pipelines. It also provides data insights for predictive maintenance and repairs to avoid financial and ecological damages.

The midstream and downstream operations in the oil industry are extremely crucial due to the complex supply chain and retail of the combustible materials and products. Video analytics provides complete surveillance solution for the oil pipelines across the oil and gas supply chain. Product analytics solutions provide oil refineries with product analysis and standard chemical composition of the end products. The crude oil prices are one of the major influencers for the global stock markets. Various pricing analytics solutions process the financial big data of the company to forecast the market dynamics and price elasticity of supply and demand in the oil and gas analytics market. The social media market has for long remained untapped by the oil and gas companies. The oil companies could now enhance their customer relation management with the help of customer big data analytical tools.

The oil and gas analytics solutions provide the companies with demand forecasts of the current market. The drilling analytics indicates the feasible and appropriate production rates for the company. Big data analytical platforms have revolutionized modern-day oil companies by improving exploration and drilling practices, logistics and supply chain management and downstream marketing and trading.

The research report includes key market drivers, the current global trends adopted for oil and gas analytics, market size of the industry and the forecasts for the market segments and upcoming technologies. The report further analyzes the future potential growth of the market in the oil and gas sector, the competitive analysis of major market players, the opportunities prevailing before the key companies and the best market practices.

The report gives a comprehensive study about the current global market and their in-depth analysis with respect to regional market space, revenue flows, future prospects and evolving industry verticals. The report encompasses the business potentials of regions such as North America (NA), Europe, Asia-Pacific (APAC), Latin America (LA) and Middle-East and Africa (MEA). The major global providers included in the report are Accenture, Cisco Systems, EMC Corporation, Hewlett-Packard, IBM Corporation, Microsoft Corporation, Oracle, SAP AG, SAS Institute and Teradata.

Table of Contents  
 
1 Introduction (Page No. - 14)
  1.1 Objectives of the Study
  1.2 Report Description
  1.3 Markets Covered
  1.4 Stakeholders
  1.5 Market Scope

2 Research Methodology (Page No. - 19)
  2.1 Market Size Estimation
  2.2 Market Share Estimation
      2.2.1 Key Data Points Taken From Secondary Sources
      2.2.2 Key Data Points from Primary Sources
      2.2.3 Key Industry Insights
      2.2.4 Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 29)
  4.1 Attractive Market Opportunities In Oil And Gas Analytics Market
  4.2 Oil and Gas Analytics Market – Top Three Analytics Software Used In Upstream Operations
  4.3 Oil and Gas Analytics Market across Various Regions
  4.4 Oil and Gas Analytics Software Type Market across Various Regions
  4.5 Life Cycle Analysis, By Geography

5 Market Overview (Page No. - 33)
  5.1 Introduction
  5.2 Evolution
  5.3 Market Segmentation
      5.3.1 Oil and Gas Analytics Market By Software
      5.3.2 Oil and Gas Analytics Market By Deployment Platform
      5.3.3 Oil and Gas Analytics Market By Services
  5.4 Market Dynamics
      5.4.1 Drivers
            5.4.1.1 Global Demand for Oil And Gas
            5.4.1.2 Untapped Value of Big Data In The Oil And Gas Industry
            5.4.1.3 Asset-Intensive Oil and Gas Industry
      5.4.2 Restraints
            5.4.2.1 Price Volatility in The Oil And Gas Market
            5.4.2.2 Harsh Climatic Conditions and Communication Links
            5.4.2.3 Stringent Regulations and Compliances over The Oil And Gas Industry
      5.4.3 Opportunities
            5.4.3.1 Cloud Analytics           
            5.4.3.2 Evolutions of Digital Oilfields
      5.4.4 Challenges
            5.4.4.1 Depleting Oil and Gas Reserves
            5.4.4.2 Aging Workforce In The Oil And Gas Industry

6 Industry Trends (Page No. - 42)
  6.1 Value Chain Analysis
  6.2 Porter’s Five Forces Analysis
      6.2.1 Threat from New Entrants
      6.2.2 Threat of Substitutes
      6.2.3 Bargaining Power of Suppliers
      6.2.4 Bargaining Power of Buyers
      6.2.5 Intensity of Competitive Rivalry

7 Oil And Gas Analytics Market, By Software Used In Upstream Operations (Page No. - 46)
  7.1 Introduction
  7.2 Exploration and Drilling Analytics
  7.3 Production Planning and Forecasting Analytics
  7.4 Field Surveillance and Monitoring Analytics
  7.5 Equipment Maintenance Management Analytics 
  7.6 Workforce Management Analytics
  7.7 Asset Performance Analytics

8 Oil And Gas Analytics, By Software Used In Midstream Operations (Page No. - 54)
  8.1 Introduction
  8.2 Fleet Analytics
  8.3 Pipeline SCADA Analytics
  8.4 Storage Optimization Analytics

9 Oil and Gas Analytics, By Software Used In Downstream Operations 58 (Page No. - 58)
  9.1 Introduction
  9.2 Pricing Analytics
  9.3 Commodity Trading Analytics
  9.4 Refining Analytics
  9.5 Demand Forecasting Analytics

10 Oil And Gas Analytics, By Deployment Platform (Page No. - 62)
   10.1 Introduction
   10.2 On-Premise
   10.3 Hosted

11 Oil And Gas Analytics, By Services (Page No. - 66)
   11.1 Introduction
   11.2 Professional Services
   11.3 Integration Services
   11.4 Cloud Services

12 Geographical Analysis (Page No. - 70)
   12.1 Introduction
        12.1.1 Oil And Gas Analytics, By Region
   12.2 North America
        12.2.1 Type Market
        12.2.2 Software Market
        12.2.3 Software Used In Upstream Operations Market
        12.2.4 Software Used In Midstream Operations Market
        12.2.5 Software Used In Downstream Operations Market
        12.2.6 Deployment Platform Market
        12.2.7 Services Market
   12.3 Europe
        12.3.1 Type Market
        12.3.2 Software Market
        12.3.3 Software Used In Upstream Operations Market
        12.3.4 Software Used In Midstream Operations Market
        12.3.5 Software Used In Downstream Operations Market
        12.3.6 Deployment Platform Market
        12.3.7 Services Market
   12.4APAC
        12.4.1 Type Market
        12.4.2 Software Market
        12.4.3 Software Used In Upstream Operations Market
        12.4.4 Software Used In Midstream Operations Market
        12.4.5 Software Used In Downstream Operations Market
        12.4.6 Deployment Platform Market
        12.4.7 Services Market
   12.5 MEA
        12.5.1 Type Market
        12.5.2 Software Market
        12.5.3 Software Used In Upstream Operations Market
        12.5.4 Software Used In Midstream Operations Market
        12.5.5 Software Used In Downstream Operations Market
        12.5.6 Deployment Platform Market
        12.5.7 Services Market
   12.6 Latin America
        12.6.1 Type Market
        12.6.2 Software Market
        12.6.3 Software Used In Upstream Operations Market
        12.6.4 Software Used In Midstream Operations Market
        12.6.5 Software Used In Downstream Operations Market
        12.6.6 Deployment Platform Market
        12.6.7 Services Market

13 Competitive Landscape (Page No. - 88)
   13.1 Overview
   13.2 Market Share Analysis, Oil and Gas Analytics Market
   13.3 Competitive Situation and Trends
        13.3.1 New Product Launches
        13.3.2 Agreements, Partnerships, Collaborations, & Joint Ventures
        13.3.3 Mergers and Acquisitions

14 Company Profiles (Page No. - 95)
   14.1 Introduction
   14.2 Hewlett-Packard
        14.2.1 Business Overview
        14.2.2 Products & Services
        14.2.3 Key Strategy
        14.2.4 Recent Developments
        14.2.5 SWOT Analysis
        14.2.6 MNM View
   14.3 Hitachi
        14.3.1 Business Overview
        14.3.2 Products & Services
        14.3.3 Key Strategy
        14.3.4 Recent Developments
        14.3.5 MNM View
   14.4 IBM
        14.4.1 Business Overview
        14.4.2 Products & Services
        14.4.3 Key Strategy
        14.4.4 Recent Developments
        14.4.5 SWOT Analysis
        14.4.6 MNM View
   14.5 Northwest Analytics
        14.5.1 Business Overview
        14.5.2 Products & Services
        14.5.3 Key Strategy
        14.5.4 Recent Developments
        14.5.5 MNM View
   14.6 Oracle
        14.6.1 Business Overview
        14.6.2 Products & Services
        14.6.3 Key Strategy
        14.6.4 Recent Developments
        14.6.5 SWOT Analysis
        14.6.6 MNM View
   14.7 Sap Ag
        14.7.1 Business Overview
        14.7.2 Products & Services
        14.7.3 Key Strategy
        14.7.4 Recent Developments
        14.7.5 SWOT Analysis
        14.7.6 MNM View
   14.8 SAS Institute
        14.8.1 Business Overview
        14.8.2 Products & Services
        14.8.3 Key Strategy
        14.8.4 Recent Developments
        14.8.5 MNM View
   14.9 Tableau Software
        14.9.1 Business Overview
        14.9.2 Products & Services
        14.9.3 Key Strategy
        14.9.4 Recent Developments
        14.9.5 MNM View
   14.10 Teradata
         14.10.1 Business Overview
         14.10.2 Products & Services
         14.10.3 Key Strategy
         14.10.4 Recent Developments
         14.10.5 MNM View
   14.11 Tibco Software
         14.11.1 Business Overview
         14.11.2 Products & Services
         14.11.3 Key Strategy
         14.11.4 Recent Developments
         14.11.5 SWOT Analysis
         14.11.6 MNM View

15 Appendix (Page No. - 128)
   15.1 Discussion Guide
   15.2 Introducing RT: Real-Time Market Intelligence
   15.3 Available Customizations
   15.4 Related Reports
 
List of Tables (69 Tables)   
 

Table 1 Oil and Gas Analytics Market: Assumptions
Table 2 Global Demand for Oil and Gas Is Propelling the Growth of Oil and Gas Analytics Market
Table 3 Price Volatility in Oil and Gas Market Is Restraining the Growth of Oil and Gas Analytics Market
Table 4 Evolution of Digital Oilfields in Oil and Gas Market Is Propelling the Growth of Oil and Gas Analytics Market
Table 5 Depleting Oil and Gas Reserves Is the Major Challenge Faced In Oil and Gas Analytics Market
Table 6 Oil and Gas Analytics Market, By Software Used In Upstream Operations, 2013–2019 ($Million)
Table 7 Exploration and Drilling Analytics Market, By Region, 2013–2019 ($Million)
Table 8 Production Planning and Forecasting Analytics Market, By Region, 2013–2019 ($Million)
Table 9 Field Surveillance And Monitoring Analytics Market, By Region, 2013–2019 ($Million)
Table 10 Equipment Maintenance Management Analytics Market, By Region, 2013–2019 ($Million)
Table 11 Workforce Management Analytics Market, By Region, 2013–2019 ($Million)
Table 12 Asset Performance Analytics Market, By Region, 2013–2019 ($Million)
Table 13 Oil and Gas Analytics Market, By Software Used In Midstream Operations, 2013–2019 ($Million)
Table 14 Fleet Analytics Market, By Region, 2013–2019 ($Million)
Table 15 Pipeline SCADA Analytics Market, By Region, 2013–2019 ($Million)
Table 16 Storage Optimization Analytics Market, By Region, 2013–2019 ($Million)
Table 17 Oil and Gas Analytics Market, By Software Used In Downstream Operations, 2013–2019 ($Million)
Table 18 Pricing Analytics Market, By Region, 2013–2019 ($Million)
Table 19 Commodity Trading Analytics Market, By Region, 2013–2019 ($Million)
Table 20 Refining Analytics Market, By Region, 2013–2019 ($Million)
Table 21 Demand Forecasting Analytics Market, By Region, 2013–2019 ($Million)
Table 22 Oil and Gas Analytics Market, By Deployment Platform,2013–2019 ($Million)
Table 23 Oil and Gas Analytics Market, By Deployment Platform,2014 & 2019, Y-O-Y (%)
Table 24 Oil and Gas Analytics On-Premise Market, By Region,2013–2019 ($Million)
Table 25 Oil and Gas Analytics Hosted Market, By Region, 2013–2019 ($Million)
Table 26 Oil and Gas Analytics Market, By Services, 2013–2019 ($Million)
Table 27 Oil and Gas Analytics Market, By Services, 2014 & 2019, Y-O-Y (%)
Table 28 Oil and Gas Analytics Professional Services Market, By Region,2013–2019 ($Million)
Table 29 Oil and Gas Analytics Integration Services Market, By Region, 2013–2019 ($Million)
Table 30 Oil and Gas Analytics Cloud Services Market, By Region,2013–2019 ($Million)
Table 31 Oil and Gas Analytics, By Region, 2013–2019 ($Million)
Table 32 Oil and Gas Analytics, By Region, 2014 & 2019, Y-O-Y (%)
Table 33 Na, Oil and Gas Analytics Market, By Types, 2013–2019 ($Million)
Table 34 Na, Oil and Gas Analytics Market, By Types, 2014 & 2019, Y-O-Y (%)
Table 35 Na, Oil and Gas Analytics Market, By Software, 2013–2019 ($Million)
Table 36 Na, Oil and Gas Analytics Market, By Software Used In Upstream Operations, 2013–2019 ($Million)
Table 37 Na, Oil and Gas Analytics Market, By Software Used In Midstream Operations, 2013–2019 ($Million)
Table 38 Na, Oil and Gas Analytics Market, By Software Used In Downstream Operations, 2013–2019 ($Million)
Table 39 Na, Oil And Gas Analytics Market, By Deployment Platform,2013–2019 ($Million)
Table 40 Na, Oil and Gas Analytics Market, By Services, 2013–2019 ($Million)
Table 41 Europe, Oil and Gas Analytics Market, By Types, 2013–2019 ($Million)
Table 42 Europe, Oil and Gas Analytics Market, By Types, 2014 & 2019, Y-O-Y (%)
Table 43 Europe, Oil And Gas Analytics Market, By Software,2013–2019 ($Million)
Table 44 Europe, Oil and Gas Analytics Market, By Software Used In Upstream Operations, 2013–2019 ($Million)
Table 45 Europe, Oil and Gas Analytics Market, By Software Used In Midstream Operations, 2013–2019 ($Million)
Table 46 Europe, Oil and Gas Analytics Market, By Software Used In Downstream Operations, 2013–2019 ($Million)
Table 47 Europe, Oil And Gas Analytics Market, By Deployment Platform,2013–2019 ($Million)
Table 48 Europe, Oil And Gas Analytics Market, By Services,2013–2019 ($Million)
Table 49APAC, Oil and Gas Analytics Market, By Types, 2013–2019 ($Million)
Table 50APAC, Oil and Gas Analytics Market, By Types, 2014 & 2019, Y-O-Y (%)
Table 51APAC, Oil and Gas Analytics Market, By Software, 2013–2019 ($Million)
Table 52APAC, Oil and Gas Analytics Market, By Software Used In Upstream Operations, 2013–2019 ($Million)
Table 53APAC, Oil and Gas Analytics Market, By Software Used In Midstream Operations, 2013–2019 ($Million)
Table 54APAC, Oil and Gas Analytics Market, By Software Used In Downstream Operations, 2013–2019 ($Million)
Table 55APAC, Oil and Gas Analytics Market, By Deployment Platform,2013–2019 ($Million)
Table 56APAC, Oil and Gas Analytics Market, By Services, 2013–2019 ($Million)
Table 57 Mea, Oil and Gas Analytics Market, By Types, 2013–2019 ($Million)
Table 58 Mea, Oil and Gas Analytics Market, By Types, 2014 & 2019, Y-O-Y (%)
Table 59 Mea, Oil and Gas Analytics Market, By Software, 2013–2019 ($Million)
Table 60 Mea, Oil and Gas Analytics Market, By Software Used In Upstream Operations, 2013–2019 ($Million)
Table 61 Mea, Oil and Gas Analytics Market, By Software Used In Midstream Operations, 2013–2019 ($Million)
Table 62 Mea, Oil and Gas Analytics Market, By Software Used In Downstream Operations, 2013–2019 ($Million)
Table 63 Mea, Oil and Gas Analytics Market, By Deployment Platform,2013–2019 ($Million)
Table 64 Mea, Oil and Gas Analytics Market, By Services, 2013–2019 ($Million)
Table 65 La, Oil and Gas Analytics Market, By Types, 2013–2019 ($Million)
Table 66 La, Oil and Gas Analytics Market, By Types, 2014 & 2019, Y-O-Y (%)
Table 67 La, Oil and Gas Analytics Market, By Software, 2013–2019 ($Million)
Table 68 La, Oil and Gas Analytics Market, By Software Used In Upstream Operations, 2013–2019 ($Million)
Table 69 La, Oil and Gas Analytics Market, By Software Used In Midstream Operations, 2013–2019 ($Million)
Table 70 La, Oil and Gas Analytics Market, By Software Used In Downstream Operations, 2013–2019 ($Million)
Table 71 La, Oil and Gas Analytics Market, By Deployment Platform,2013–2019 ($Million)
Table 72 La, Oil and Gas Analytics Market, By Services, 2013–2019 ($Million)
Table 73 New Product Launches, 2013–2014
Table 74 Agreements, Partnerships, Collaborations, And Joint Ventures,2013–2014
Table 75 Mergers and Acquisitions, 2013–2014
 
 
List of Figures (20 Figures)  
 
Figure 1 Oil and Gas Analytics Market: Stakeholders
Figure 2 Oil and Gas Analytics: Research Methodology
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Oil And Gas Analytics Market, By Software, 2014
Figure 6 Oil and Gas Analytics Software Market Snapshot (2014 Vs 2019): Exploration And Drilling Analytics Market Is Expected To Increase Five Times In The 
Next Five Years
Figure 7 Attractive Market Opportunities In Oil And Gas Analytics
Figure 8 Exploration And Drilling Analytics Is Expected To Grow At The Fastest Rate Among The Top Three Analytical Software Used In Upstream Operations
Figure 9 Oil And Gas Analytics Market Share, 2014
Figure 10 Oil And Gas Analytics Software Type Market Share, 2014
Figure 11 Latin American Market Soon To Enter Exponential Growth Phase In Coming Years
Figure 12 Evolution Of Oil And Gas Analytics
Figure 13 Oil and Gas Analytics Market Segmentation: By Software
Figure 14 Oil and Gas Analytics Market Segmentation: By Deployment Platform
Figure 15 Oil and Gas Analytics Market Segmentation: By Services
Figure 16 Untapped Value Of Big Data In Oil And Gas Industry Will Spur The Demand Of Oil And Gas Analytics
Figure 17 Oil and Gas Analytics Market: Drivers and Restraints
Figure 18 Value Chain Analysis (2014): Major Value Is Added During the Product Development Phase
Figure 19 Porter’s Five Forces Analysis – Oil and Gas Analytics Market
Figure 20 More Than Half Of The Market Is Dominated By Exploration And Drilling Analytics
Figure 21 Oil and Gas Analytics Market, By Software
Figure 22 The Mea Region Is Expected To Grow With The Maximum CAGR, Owing To The Increased Adoption Of Oil And Gas Analytics Software In Developing Economies
Figure 23 On-Premises Market Set To Outpace Deployment Platform Segment In Growth
Figure 24 Hosted Deployment Platform Would Drive The Growth In Na Region By 2019 63
Figure 25 Companies Adopted Agreements, Partnerships, Collaborations, & Joint Ventures As The Key Growth Strategy Over The Last Four Years
Figure 26 Sap Ag and Oracle Grew At The Fastest Rate Between 2009–2013
Figure 27 Global Oil And Gas Analytics Market Share, By Key Player, 2013
Figure 28 Battle for Market Share: Agreements, Partnerships, Collaborations, & Joint Ventures Was The Key Strategy
Figure 29 Geographic Revenue Mix of Top 5 Market Players
Figure 30 Hewlett-Packard: Business Overview
Figure 31 SWOT Analysis
Figure 32 Hitachi: Business Overview
Figure 33 IBM: Business Overview
Figure 34 SWOT Analysis
Figure 35 Northwest Analytics: Business Overview
Figure 36 Oracle: Business Overview
Figure 37 SWOT Analysis
Figure 38 Sap Ag: Business Overview
Figure 39 SWOT Analysis
Figure 40 SAS Institute: Business Overview
Figure 41 Tableau Software: Business Overview
Figure 42 Teradata: Business Overview
Figure 43 Tibco Software: Business Overview
Figure 44 SWOT Analysis
 
 
 
 

 

The human advancements in the fields of lifestyle, travel and transportation are responsible for the resultant need of greater oil consumption. The staggering oil productions in the previous century have intensified the global issue of exhaustion of fossil fuels. The rapid depletion of oil and gas reserves has brought the global oil and gas authorities to a crossroad. The oil companies have to transmute their current operational techniques to tackle the productivity losses from the limited oil resources. The field of oil and gas analytics provides a solution to alchemize the organizational data into the most valuable assets for the company. The market shows a tremendous future potential for global oil companies offering a visionary solution

World economy is driven by the exchange of goods and services. Exchange of goods heavily depends on the intermodal transportation service. The immense growth in the transportation sector is an outcome of the expanding world economies. The global transportation machinery and fleet urges for a colossal demand for oil and gas.

The global oil demand is on an exponential rise due to rapid globalization and industrial growth. The developed economies in the west show very high per capita oil consumptions. The BRICS economies excluding Russia import large quantities of crude oil due to low domestic oil and gas production and huge demand in the country. The exhausting oil and gas reserves have aggravated the oil demands forcing oil companies to maintain higher production volumes from aging oil fields. This fact drives solutions and systems available in the market on global level.

The oil companies have undertaken exploration drives to discover new oil reserves in order to supply greater production volumes to meet the global demand. These production and operational expansions of the oil and gas industry have led to new explorations into the remote regions with adverse frontiers across the globe. The extraction units have to sustain the harsh conditions and environment in deserts and deep ocean waters. The maintenance costs of the oil companies are sky rocketing in order to sustain environmental challenges. Billions of dollars are spent annually over the repairs and maintenance of offshore and deepwater oilrigs. The aging production infrastructure often results in oil explosions and oil spills which is responsible for hazardous ecological consequences like loss of marine wealth and acid rains.

The global production of oil and gas swings across every day and it is under heavy political scrutiny and influence. The oil and gas market is an oligopoly where a few strong players control the entire market space. The rising oil demand and the fluctuating supply have made the crude oil prices very volatile. The heavy rise and falls in the oil market have kept away hefty investments for the technological advancements of the oil fields. The oil industry thus operates inefficiently with low oil production by conventional techniques resulting in heavy operational losses. 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 (CAGR) of 35.5% from 2014 to 2019.

Oil and Gas Analytics: Market, by Region ($Million)

Oil and Gas Analytics Market

Source: Press Releases, Expert Interviews, and MarketsandMarkets Analysis

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