The Growth of Innovations in the U.S. Oil and Gas Analytics Market Studied with Prominent Key Players SAP SE, Tableau Software, Microsoft Corporation, Hitachi Ltd
The U.S. oil and gas analytics market is set to grow on account of increasing adoption of data gathering devices and growing awareness toward importance of data. Increasing requirement of production optimization and risk assessment platforms in the current unpredictable industry scenario will stimulate the demand for advanced AI and analytical tools. The industry players are focusing toward managing their respective O&M cost that has been significantly improved by using new data analytics software.
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Surging O&G infrastructure spending will significantly increase the adoption of analytics across various divisions. Rising volumes of oil and gas supplies has instigated the need for additional infrastructure requirement across the U.S. with Northeast and Southwest regions contributing over 19% and 36% of the total infrastructure investments. As per API, in 2017, the gathering & processing and refining divisions accounted to about 4.9 billion and USD 5.2 billion respectively.
Current business partnerships to attain a leading position in the industry is a key growth strategy followed by the companies. Constant spending on technology innovation is bringing advanced analytics solutions in the industry.
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The companies are also involved in mergers and acquisitions to gain technological excellence. Furthermore, they and are also investing heavily to bring innovations in the industry.
With the on-going IoT revolution, numerous industries in the world are recognizing the value of data. The U.S oil & gas analytics market is might see a flourishing period of growth due to increasing use of data analytics practices in the field.Immense data is generated across the country’s growing oil & gas industry. It is one of the most vital factors promoting adoption of data analytics. Moreover, the need for production optimization and risk assessment in the country’s highly-volatile oil and gas industry has further highlighted the importance of advanced analytics tools.
Partial Table of Contents (ToC) of the report:
Chapter 4 U.S. Oil & Gas Analytics Market, By Deployment
4.1 U.S. Oil & gas analytics market share by deployment, 2018 & 2025
4.2.1 U.S. market from on-premise, 2014 - 2025
4.3.1 U.S. market from hosted, 2014 - 2025
Chapter 5 U.S. Oil & Gas Analytics Market, By Service
5.1 U.S. Oil & gas analytics market share by service, 2018 & 2025
5.2.1 U.S. market from professional, 2014 - 2025
5.3.1 U.S. market from cloud, 2014 - 2025
5.4.1 U.S. market from integration, 2014 - 2025
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Major players operating in the U.S oil and gas analytics market include Accenture, IBM, Cognizant, and Microsoft Corporation. These industry leaders are actively seeking strategic collaborations with technology providers for product innovation to gain competitive advantage. Global Market Insights, Inc. anticipates that the U.S. oil and gas analytics market could likely grow more than 14.5% by 2025.
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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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