Oil and Gas Analytics Market Insights and Outlook 2024 - Microsoft, Oracle, SAP SE, Tableau Software

Oil and Gas Analytics Market Insights and Outlook 2024 - Microsoft, Oracle, SAP SE, Tableau Software

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.

Oil and gas analytics market players implement professional, cloud-based, and integration analytics services to obtain real time information. Oil and gas analytics market from cloud-based services will record an annual growth rate of more than 21% over the coming seven years. This growth can be attributed to increasing demand for cloud infrastructure.

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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.

Growth Drivers:
o Reduced operational risks and increasing efficiency enabled through analytics in oil & gas industry
o Rising CAPEX for analytics services
o Looming cyber security threats

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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Key Manufacturers
o Accenture
o Cisco Systems Inc.
o Cognizant
o Deloitte
o Drillinginfo Inc.
o Microsoft
o Oracle
o SAP SE
o Tableau Software
o TIBCO Software Inc.
o Teradata
o IBM
o Hitachi Ltd.
o SAS Institute Inc.
o Capgemini
o Hewlett Packard Enterprise Development LP

Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Research scope and assumptions
1.2 Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2 Executive Summary
2.1 Oil & gas analytics industry 3600 synopsis, 2013 - 2024
2.1.1 Current business environment
2.1.2 Deployment trends
2.1.3 Service trends
2.1.4 Application trends
2.1.5 Regional trends

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