openPR Logo
Press release

Rapid Digitalization of Oil & Gas Sector to Boost E&P Software Market at 15.4% CAGR by 2032

10-31-2022 02:41 PM CET | IT, New Media & Software

Press release from: Persistence Market Research

Rapid Digitalization of Oil & Gas Sector to Boost E&P Software

As per a study conducted by Persistence Market Research, the global E&P software market is anticipated to secure US$ 10.2 Billion in 2022, whereas, it was valued US$ 8.6 Billion in 2021. Owing to the rapid digitalization in oil & gas energy, the market for E&P software is likely to flourish significantly, securing US$ 42.8 Billion while recording a CAGR of 15.4% during the forecast period from 2022-2032.

Digitalization has offered lucrative opportunities in the energy sector by enhancing mobility, connectivity surveillance, supporting real-time decision-making, and storage technologies. This is speculated to be the key cause driving the industry significantly during the forecast period. Digitalization and connectivity of smart devices carve out several remunerative chances for oil and gas companies to augment productivity and reduce expenses.

Request Sample Copy @

Oil and gas companies making significant investments in technologies like automation, IoT, and big data analytics to optimize core operational activities such as asset management, maintenance, and production. Besides, consumers are also demanding greater accountability from energy producers in fields like pollution and hydrocarbon sources, which is expected to fuel the E&P software market.

Adoption of developed seismic processing and imaging solution is anticipated to give significant lucrative opportunities. Its ability to reduce uncertainty and enhanced reliability is likely to push the industry growth in the forecast period. Moreover, modern seismic processing and imaging solution offers efficacious parallel framework and infrastructure for cluster optimization, which is predicted to drive the market expansion in the assessment period.

Key Takeaways from the Market Study

The global E&P software market to value US$ 8.6 Billion in 2021
The global E&P software market to exhibit a 15.4% growth rate from 2022-2032
By deployment type, the on-premise software segment to record 10.1% during the forecast period
The global E&P software market to secure US$ 42.8 Billion by 2032
The production segment is projected to witness 19.2% during the assessment period.
The UK market to value USD 3 Bn while exhibiting a 15% growth rate in the assessment period.
Market in China is projected to secure USD 2.9 Bn, expanding at a 17.3% CAGR in the forecast period
Market in India is expected to procure USD 2.8 Bn while exhibiting a 22.6% CAGR from 2022-2032

Request for Customization @

Competitive Landscape

Key players in the global E&P software market include Ikon Science Limited, Paradigm B.V., ION Geophysical Corporation, Schlumberger Limited, and ETL Solutions Ltd., among others. Players of the industry focus on industry collaborations, mergers & acquisitions, and partnerships to expand their reach.

Recent key developments in the E&P Software industry include:

In March 2020, US-based companies Emerson and Quantum Reservoir Impact (QRI) announced a strategic collaboration to develop applications for Artificial Intelligence (AI)-based analytics for oil and gas exploration and production.
In August 2020, Emerson announced that Jaguar Exploracion y Produccion (Jaguar), a Mexico-based oil and gas company, will use its exploration and production software and services to enhance the capability of Jaguar's onshore assets and projects.

Key Companies Profiled

Schlumberger Limited
Paradigm B.V.
ION Geophysical Corporation
ETL Solutions Ltd.
Ikon Science Limited

Buy Report Now @

Key Segments Covered in the E&P Software Industry Report

E&P Software by Deployment Type

On-premise E&P Software Deployment
Cloud-based E&P Software Deployment

E&P Software by Operation Type

E&P Software for On-shore Operations
E&P Software for Off-shore Operations

E&P Software by Software Type

E&P Software for Risk Management Mapping
E&P Software for Seismic Amplitude Analysis
E&P Software for Portfolio Aggregation
E&P Software for Performance Tracking
E&P Software for Navigation Systems
E&P Software for Resource Valuation
E&P Software for Reservoir Characterization
E&P Software for Reservoir Simulation
E&P Software for Drilling
E&P Software for Production

E&P Software by Region

North America E&P Software Market
Europe E&P Software Market
Asia-Pacific E&P Software Market
Middle East & Africa E&P Software Market
South America  E&P Software Market

Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales -
Website -

Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Rapid Digitalization of Oil & Gas Sector to Boost E&P Software Market at 15.4% CAGR by 2032 here

News-ID: 2785280 • Views: 533

More Releases from Persistence Market Research

Shrimp Disease Diagnostics Market: Safeguarding Aquaculture Health and Maximizin …
The Shrimp Disease Diagnostics Market generated around US$ 448.0 Million in revenue globally in 2022, and it is anticipated that this market will grow at a CAGR of 5.6% to reach an estimated value of US$ 821.0 Million by the end of 2033. The shrimp disease diagnostics market has been analysed across the regions of North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA and Emerging Countries such as
Photodynamic Therapy Market: Illuminating a Brighter Future in Cancer Treatment …
Actinic keratosis, psoriasis, acne, rosacea, esophageal cancer, and basal cell carcinoma are considered to be the topmost risk factors that are boosting the demand for photodynamic therapy among the general population. However, the growing availability of FDA-approved photosensitizer drugs and laser systems is contributing to the increased adoption of novel and innovative technologies to treat various conditions of dermatology, ophthalmology, and oncology. According to the Skin Cancer Foundation, one in five
Medical Foods Market: Nourish Your Health and Optimize Well-being with Advanced …
The medical foods market is expanding to geographical regions where methods for nutritional care are not present. Most of the market is consolidated with a few players. A majority of the medical foods market is concentrated in geographical locations such as the U.S. and Europe. Prescription drugs are subsidized by healthcare plans from insurance companies based on each region's reimbursement plan. Therefore, the inclination to adopt such insurance-mandated medical food reimbursement
Humanized Liver Mice Model Market: Revolutionizing Biomedical Research with Cutt …
A large number of humanized liver mice models are available, including uPA-SCID mice, FRG KO mice, and TK-NOG mice, among others. Factors such as increasing incidence of liver cirrhosis, technological advancement and development of new humanized liver mice models, increase in number of FDA approvals for liver-based disease treatment dugs have increased the number of research and development activities, which require these models. However, the high cost of mice models as

All 5 Releases

More Releases for E&P

Exploration and Production (E&P) Software Market 2022 | Detailed Report
The Exploration and Production (E&P) Software research report provides a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The data thus presented is reliable, comprehensive and the result of extensive research both primary and secondary. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Moreover, the data underlines the primary
Surging E&P Activities in Arctic Driving Well Cementing Services Demand
Well cementing refers to the service that helps in preventing the movement of fluid from the reservoir to the wellbore. Cementing of wells also supports and protects the well casing. Oilfield service companies offer well cementing services for completing new wells and sealing lost circulation areas or zones where there is an absence of fluid movement or less fluid flow within the well. These companies offer remedial, primary, and other
Exploration & Production (E&P) Software – Global Market Outlook (2018-2025)
Global Exploration & Production (E&P) Software Industry New Study On “2018-2025 Exploration & Production (E&P) Software Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecast” Added to Wise Guy Reports Database This report focuses on the global Exploration & Production (E&P) Software status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Exploration & Production (E&P) Software development in United States, Europe and China. The
Well Intervention Market: Subsea E&P Activities to Trigger Adoption
Development of new oilfields coupled with rising demand for energy have remained instrumental in driving the need for well intervention. With a large contribution from the energy and power sector, the well intervention market is expected to remain optimistic throughout the period of forecast, 2018-2026, reveals a new report on well intervention market. This extensive research report titled “Well Intervention Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Global Exploration & Production (E&P) Software Market
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Exploration & Production (E&P) Software Market “ Request a Free Sample Report @ The report provides analysis of the Exploration & Production (E&P) Software market for the period 2014-2024, wherein the years from 2016 to 2024 is the forecast period and 2015 is
Fenoxaprop-P-e: Global Product Intelligence (2015-2020)
ReportsWorldwide has announced the addition of a new report title Fenoxaprop-P-e: Global Product Intelligence (2015-2020) to its growing collection of premium market research reports. The report “Fenoxaprop-P-e: Global Product Intelligence” provides market intelligence on the different market segments, based on type, application, and geography. Market size and forecast (2011-2020) has been provided in the report. The report “Fenoxaprop-P-e: Global Product Intelligence (2015-2020)” provides market intelligence on the different segments of the agrochemical,