Press release
Oil and Gas Analytics Market 2018-2024|Key players ,Application, Regional Analysis, forecast and Business Strategy
The exponentially increasing demand from refineries for petroleum products will lead oil and gas analytics market to exhibit a flourishing growth rate in the years ahead. To fulfill the surging need for fossil fuels, O&G companies are adopting digital technologies to enhance their productivity and reduce costs. The adoption of analytic tools is likely to increase production efficiency by 6% to 8%. This, in turn, will stimulate oil and gas analytics industry size considerably. The implementation of strict operational safety norms by the government will also stimulate the product demand. As per the report by Global Market Insights, Inc., “Oil and Gas Analytics market collected a revenue of USD 4 billion in 2015 and will grow at an annual growth rate of 20% over the period of 2016 to 2024.”
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Oil and gas analytics industry from midstream applications, having accounted for more than 21% of the overall share, will generate a considerable revenue by 2024, primarily driven by surging product demand from midstream applications. Pipeline SCADA, one of the sub-segments categorized under midstream applications, is predicted to surpass a revenue collection of USD 2 billion by 2024. The surging need to extract accurate and real-time information will propel oil and gas analytics market growth from pipeline SCADA applications.
Considering the regional trends, India oil and gas analytics market will record substantial growth rate over the year ahead. The growth can be attributed to the growing number of refineries. In addition to this, most of the industry giants across this region are expanding their production capacity, which will influence oil and gas analytics industry growth. For instance, the Indian Oil Corporation is planning to invest USD 2.3 billion to expand refinery capacities to 25 million metric tons per year.
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U.S. oil and gas analytics industry size generated a revenue of USD 1 billion in 2015 and is anticipated to record an annual growth rate of more than 19% over the period of 2016 to 2024. Escalating shale gas exploration activities in the region along with surging efforts to increase the overall production capacity will augment the product demand.
Partial Table of Contents (ToC) of the report:
Chapter 4 Oil & Gas Analytics Deployment Insights
4.1 Oil & gas analytics market share by deployment, 2015 & 2024
4.2 On Premise
4.2.1 Global oil & gas analytics market estimates and forecast from on premise, 2013 - 2024
4.2.2 Global oil & gas analytics market revenue from on premise, by region, 2013 - 2024
4.3 Hosted
4.3.1 Global oil & gas analytics market estimates and forecast from hosted, 2013 - 2024
4.3.2 Global oil & gas analytics market revenue from hosted, by region, 2013 - 2024
Chapter 5 Oil & Gas Analytics Service Insights
5.1 Oil & gas analytics market share by service, 2015 & 2024
5.2 Professional
5.2.1 Global oil & gas analytics market estimates and forecast from professional, 2013 - 2024
5.2.2 Global oil & gas analytics market revenue from professional, by region, 2013 - 2024
5.3 Cloud
5.3.1 Global oil & gas analytics market estimates and forecast from cloud, 2013 - 2024
5.3.2 Global oil & gas analytics market revenue from cloud, by region, 2013 – 2024
5.4 Integration
5.4.1 Global oil & gas analytics market estimates and forecast from integration, 2013 - 2024
5.4.2 Global oil & gas analytics market revenue from integration, by region, 2013 – 2024
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/oil-and-gas-analytics-market
In Europe, Norway oil and gas analytics market, having had a revenue of USD 286 million in 2015 will exhibit a CAGR of more than 19% over the coming years of 2016 to 2024, owing to the growing adoption of digital technology across this region. The usage of digital technology will positively impact the oil and gas analytics market, subject to the reduced production and operational costs.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: mailto:sales@gminsights.com
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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