The current situation around the globe regarding oil prices is volatile and ever-changing. This situation has created fears in the minds of oil and gas producers regarding the breach of optimum global oil pricing levels. Thus, major oil and gas companies are trying in some way to optimize their operational costs and also automate their operations to bring about efficiency. Oil and gas companies have constantly relied upon complex data to bring about a optimum blend of efforts and costs. That makes analysis of this complex data a primary area of contention and research. Taking a look at critical global economic scenario, the challenges like technical, human capital, social responsibility and environmental management are severely impacting the efficiency and effectiveness of oil and gas industry.
With the advent of globalization and technological innovation, the propagation of mobility in business applications has increased dramatically. Many enterprises are looking forward to integrate mobility applications into their fold. In this critical scenario, the most important thing for enterprises is to maximize their turnover from resources and reduce cycle times. Introduction of mobility into day to day operations will help enterprises to enhance their effectiveness and efficiency. It is challenging for enterprises to balance their portfolios of natural gas and oil assets. Hence, introduction of mobility in oil and gas sector will ensure reliable balancing among these portfolios. It will ensure greater data integrity, reduce redundancy and optimize the usage of resources.
Mobility in oil and gas helps not only in daily operations of oil and gas companies but it also helps in creating a global repository of data which can be used to identify global trends and thereby helps in strategy formulation for oil and gas enterprises. The advantage to mobility is to increase productivity while reducing the expense required for doing it in the conventional way. Mobility in oil and gas offers functionality like instant analysis to demand-supply matrix, real time and simultaneous interaction with all the stakeholders, effective work and asset management, inventory management and reduction in cycle time.
The report analyzes the way oil and gas mobility market has evolved over the time. It also indicates the rate of growth and implementation of technology and services across various regions. The oil and gas mobility market is expected to grow from $7,007.5 million in 2015 to $ 18,693.9 million in 2020 at a CAGR of 21.7%.
Oil and Gas Mobility Market by Application (Asset Management, Data Management, Risk and Regulatory Compliance, Materials Management, Workforce Automation, Mobile Analytics, Others), Service, Deployment Type (Hosted, and On-Premises), by Users & Region - Global Forecast to 2020
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