Exploration and Production Software Market: Increasing Investments in Hunt for Reserves of Unconventional Gas Spikes Demand, observes || Global Participants - Schlumberger Limited, Paradigm B.V., ION Geophysical Corporation, ETL Solutions Ltd., Exprodat C

Global exploration and production software market is quite fragmented. As of 2015, the top three companies, Schlumberger Limited, Paradigm B.V., and Landmark Solutions held a share of 16.4% in the overall market. The report states that the companies are expected to make investments toward research and development of revolutionary technologies. Making the products feature-rich is expected to be key strategy of these players to remain relevant in the cut-throat competition.

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the global exploration and production software market was worth US$3,693.9 mn in 2016 and is expected to reach US$14,149.6 mn by the end of 2025 as the market expands at a CAGR of 16.3% between 2017 and 2025. Out of the various types of software, the production software segment is poised to make a mark on the global market. During the forecast period, this segment is expected to surge at a CAGR of 18.7%. Geographically,

The increased growth of the global oil & gas industry has led to growing demand for exploration and production (E&P) software. New oil and gas exploration activities, along with heavy investments in refineries and pipelines in the Americas, Asia Pacific, and the Middle East & Africa are the major factors driving the market’s growth. The market is also driven by the increasing exploration level of unconventional gas resources worldwide.

In recent years, the depletion of conventional gas sources (found in sandstone and requiring traditional methods for extraction) has resulted in a shift from conventional gas to unconventional sources. This is reducing the dependency of the global oil & gas industry on conventional gas sources. This emerging trend has shifted its focus toward unconventional gas sources, which require the use of latest software and technologies for the extraction of gas through horizontal drilling. This is also helping the oil & gas industry reduce its carbon footprint. Moreover, the growing rise in technological advancements has driven the usage of usage of oilfield equipment including E&P software across the globe. The market’s growth is currently restricted by the fluctuating oil & gas prices worldwide.

The report also highlights that the persistent rise in population, improving purchasing power, and rapid urbanization are also expected to contribute to the growing demand for oil and gas, thereby propelling market growth. Increasing investments and efforts by governments across the globe to find hidden reserves of un-conventional gas have also led to an increased adoption of exploration and production software market.

Despite the strong market drivers, the global exploration and production software market is likely to face a few hurdles in the coming years. The consistent variation in the pricing of gas and oil are expected to act as an impediment for the global market. The market is also likely to be hampered by the political vulnerability across the globe.

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The Exploration & Production (E&P) Software market has been segmented as below:

The Exploration & Production (E&P) Software, By Deployment Type

On-premise Software
Cloud-based Software

The Exploration & Production (E&P) Software Analysis, By Operation Type

On-shore
Off-shore

The Exploration & Production (E&P) Software Analysis, By Software Type

Risk Management Mapping
Seismic Amplitude Analysis
Portfolio Aggregation
Performance Tracking
Navigation System
Resource Valuation
Reservoir Characterization
Reservoir Imaging
Reservoir Monitoring
Subsurface Evaluation
Pressure & Flow-rate Measurement
Reservoir Simulation
Black Oil Simulator
Compositional Simulator
Thermal Compositional Simulator
Drilling
Well Planning
Trajectory Design
Survey Database
Drilling Engineering
Casing Design
Cement Design
Hydraulics
Mud Design
BHA Design & Analysis
Well Barrier
AFE
Drilling Operations
Drilling Optimization
Operational Efficiency – KPI Monitoring
Wellsite Reporting
Data Aggregation
Drilling Automation
Drilling Data Management Well Control
Production
Production Engineering
Flow Assurance Engineering
Production Analytics
Production Operations
Production Data Management Systems (PDMS)
Digital Oilfield

The Exploration & Production (E&P) Software Analysis, By Country/Region

North America
The U.S.
Canada
Rest of North America
Europe
Germany
France
The U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia Pacific
Middle East & Africa
The UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America

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