HOME › Research Insight › Increasing demand for cloud based applications amongst the oil and gas industries in order to optimize the cost and industrial operations is driving the “Cloud Applications in Oil and Gas Industry Market
Increasing demand for cloud based applications amongst the oil and gas industries in order to optimize the cost and industrial operations is driving the “Cloud Applications in Oil and Gas Industry Market
Due to the extremely complex and competitive nature of the oil and gas industry the demand for the improved production and other process oriented operations have increased in order to provide the cost effective solutions. Cloud-based solutions are getting deployed in oil and gas industry because of their operational benefits such as quicker deployment, high scalability, and reduced upfront costs and maintenance costs as well
With the growing demand of crude oil and its derivative products such as petrol, kerosene, and diesel to naphtha, there is a need of reducing the high operational cost associated from exploration and production to refining and distribution. The oil and gas vendors are looking for IT solutions which would give out maximum cost benefits with minimum investments. Thus, they require the kind of solutions which can replace their existing in-house systems in the coming years. Cloud-based solutions in oil and gas industry not only reduce the overall cost but also offer lesser and even no-maintenance models and labor engagement.
Besides the high end cloud-based solutions that provide real-time data access, a number of vendors offer numerous cloud-based applications such as data analytics, customer relationship manager, enterprise content management, collaboration, human capital management, enterprise resource planning, project management, supply chain management, governance, risk management and compliance and core industry applications. The key players providing cloud-based solutions in oil and gas industry are Microsoft, SAP, Oracle, IBM, Cisco, Tableau Software, and others.
The cloud applications in oil and gas research report analyzes global adoption trends, future growth potentials, key drivers, competitive outlook, restraints, opportunities, key challenges, market ecosystem, and value chain in this market.
The cloud application in oil and gas market research report consists of the future market trends globally. It also presents a detailed analysis, market sizing and forecasting for emerging submarkets of cloud applications. The report is thoroughly segmented by type of cloud-based applications, deployment models, organization size, and regions.
North America and Europe are expected to be the highest revenue generating regional market segments for cloud applications market in oil and gas. In terms of Compounded Annual Growth Rate (CAGR), Middle East and Africa (MEA), and Latin America (LA) are forecasted to have high growth rates. Substantial market growth will be seen in the Asia-Pacific (APAC) oil and gas cloud applications market.
MarketsandMarkets has highlighted these key findings in its latest research report. The “Cloud Applications in Oil and Gas - Worldwide Market Forecasts and Analysis (2014-2019)” report is now available for sale.
Cloud Applications Market in Oil and Gas Industry by Type (Data Analytics, CRM, ECM, Collaboration, HCM, ERP, Project Management, SCM, GRC, Core Industry Applications) - Worldwide Forecast and Analysis (2014 - 2019)
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