Press release
Global Exploration & Production (E&P) Software Market to Show Significant CAGR of 18.9 % during 2016-2024
MRRSE
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Exploration & production (E&P) software refer to set of software solutions designed for the upstream segment of the overall oil & gas industry, thus the growth of the global oil and gas industry is the clear reason for the soaring revenue of the exploration and production software market. Firstly, the report begins with clear market definition and scope, together with a market segmentation and the key research objectives. In this part, the research highlights, assumptions and research methodology, as well as the executive summary of the market. Similarly, introduction to the industry, together with the data on the definitions and industry evolution or developments are all well-evaluated in this descriptive synopsis.
According to this report, the global exploration and production software market is expected to reach a CAGR of 18.9 % during the forecast period from 2016 to 2024. At this pace, the market is anticipated to reach a value of US$ 14.7 Billion through 2024. The research identifies that the market is also driven by the increasing exploration level of unconventional gas resources worldwide. The valuable additions to the technological advancements have driven the usage of oilfield equipment that use exploration and production software across the globe.
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The geographical analysis section of the report studies the market scenario in some of the prime regions, including Asia Pacific, the Middle East and Africa, Europe, and South America. In terms of geography, incremental investments in pipelines and refineries in the Americas, APAC, and Middle East & Africa are likely to be pivotal factors steering the global market toward growth. Moreover, the research has been analyzed on the basis of deployment type, operation type and software type. The software types are risk management mapping, navigation system, portfolio aggregation, resource valuation, seismic amplitude analysis, performance tracking, reservoir characterization, drilling, reservoir simulation and production.
Later, the study evaluates the successful players in the global exploration and production software market which are Peloton, Petroleum Experts Ltd., RockFlow Dynamics, LLC, OVS Group LLC, P2 Energy Solutions, Landmark Solutions, Schlumberger Limited, ION Geophysical Corporation, Paradigm B.V., ETL Solutions Ltd., Exprodat Consulting Ltd., Emerson Electric Co. and Computer Modelling Group Ltd.
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