Press release
Big Data In The Oil And Gas Sector Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Big Data In The Oil And Gas Sector Market
The momentum of big data in the oil and gas sector market is anticipated to be driven by the rising production of oil and gas. The surge in oil and gas production is a result of an increasing global energy demand, the extension of offshore exploration, investment in infrastructure, and regulatory environment. The growth in oil and gas production opens up considerable opportunities for utilizing big data analytics to boost operational effectiveness, maximize asset performance, improve safety and environmental status, and guide strategic decision-making in the oil and gas field by consolidating and analyzing data from diverse sources. This can lead to a holistic understanding of operations and pinpoint areas that need improvements. For example, the Energy Information Administration (EIA), a leading agency of the U.S. Federal Statistical System, reported that the average crude oil production in the United States for 2023 was 12.4 million barrels per day (b/d), with a projection to rise to 12.8 million b/d in 2024. Consequently, the burgeoning production of oil and gas is spurring the growth of big data in the oil and gas sector market.
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How will the growth rate of the big data in the oil and gas sector market shape industry trends by 2034?
The oil and gas sector's market size for big data has seen swift expansion recently. Projected growth is set at rising from $6.07 billion in 2024 to $6.98 billion in 2025, at a compound annual growth rate (CAGR) of 15.1%. Factors contributing to this growth during the historic period include improved decision-making, enhanced operational and business performance, the emergence of nontraditional resources, energy market instability, the need for efficient exploration and production processes, and economic expansion.
The market size of big data in the oil and gas sector is projected to experience rapid expansion in the coming years, reaching an estimated $12.2 billion in 2029 with a compound annual growth rate (CAGR) of 15.0%. This impending growth during the forecast period can be attributed to various factors such as increased demand for predictive maintenance, heightened competition within the oil and gas industry, a rising need to enhance production, an increasing requirement for a systematic methodology to evaluate the data, and a growing demand for energy. Notable trends predicted to emerge during this period include developments in sensor technologies, progress in edge computing, the integration of AI and machine learning, advances in technology, and a rise in partnerships.
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How are the latest trends influencing the growth of the big data in the oil and gas sector market?
In the big data sector of the oil and gas industry, major corporations are concentrating on the development of innovative solutions like Nexus OnCore Compact Control System to modernize smaller industrial entities. This system is a control mechanism using several autonomous controllers to operate and control an industrial plant or system's processes. For example, Nexus Control, a company based in India providing integrated control solutions, debuted the Nexus OnCore Compact Control System in May 2022. This advanced technology boasts the advanced diagnostic tools and digital toolbox normally available in a distributed control system (DCS), all while being small enough to fit in tight spaces usually reserved for programmable logic controllers (PLCs). The outcome is increased efficiency, better understanding of assets, and the optimization of operational processes, vital features often seen in larger facilities.
Which primary segments of the big data in the oil and gas sector market are driving growth and industry transformations?
The big data in the oil and gas sector market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Data Type: Structured, Unstructured, Semi-Structured
3) By Deployment: On-Premise, Cloud-Based
4) By Application: Upstream, Midstream, Downstream, Administration
Subsegments:
1) By Hardware: Servers, Storage Devices, Networking Equipment, Data Acquisition Devices
2) By Software: Data Management Software, Data Analytics And Visualization Software, Cloud-Based Software, Advanced Predictive Analytics Tools, AI And Machine Learning Algorithms
3) By Services: Consulting Services, Data Integration And Implementation Services, Managed Services, Support And Maintenance Services, Data Security And Compliance Services
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Which geographical regions are pioneering growth in the big data in the oil and gas sector market?
North America was the largest region in the big data in the oil and gas sector market in 2024. The regions covered in the big data in the oil and gas sector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the influential players reshaping the big data in the oil and gas sector market landscape?
Major companies operating in the big data in the oil and gas sector market are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Dell Technologies Inc., Hitachi Vantara LLC, General Electric Company, accenture* plc, International Business Machines Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Company, Schlumberger Limited, Capgemini SE, Baker Hughes Company, Halliburton Company, DXC Technology Company, HCL Technologies Limited, Teradata Corporation, BigPanda Inc., Alteryx Inc., Altair Engineering Inc., Cloudera Inc., Datameer, Inc., Enverus, Northwest Analytics Inc., Hortonworks Inc., MapR Technologies Inc.
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What Is Covered In The Big Data In The Oil And Gas Sector Global Market Report?
• Market Size Forecast: Examine the big data in the oil and gas sector market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the big data in the oil and gas sector market for a structured understanding.
• Key Players Overview: Analyze major players in the big data in the oil and gas sector market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the big data in the oil and gas sector market.
• Segment Contributions: Evaluate how different segments drive overall growth in the big data in the oil and gas sector market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the big data in the oil and gas sector market.
• Industry Challenges: Identify potential risks and obstacles affecting the big data in the oil and gas sector market.
• Competitive Landscape: Review strategic developments in the big data in the oil and gas sector market, including expansions, agreements, and new product launches.
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