openPR Logo
Press release

Oil and Gas Analytics Market: Industry Research and Forecast Analysis 2017

07-10-2017 01:25 PM CET | Energy & Environment

Press release from: TMR Research

Oil and Gas Analytics Market: Industry Research and Forecast

Global Oil and Gas Analytics Market: Snapshot

The use of oil and gas analytics is gaining significance for automating processes and guiding decisions regarding various activities associated with exploration, development, and production of oil and natural gas. With each passing day, the exploration and production of new hydrocarbon reserves is getting riskier, technologically as well as economically. This continuously generates large volumes of data associated with each aspect of manpower, materials, and machinery used in the entire process, starting with the survey of potential drilling sites in conventional and unconventional oil and gas reserves. The oil and gas industry is always seeking better and innovative ways to interpret, integrate, and exploit these analytics—especially gathered during exploration—to make accurate business decisions. The smarter use of ever-growing burgeoning data sets helps oil and gas companies to enhance recovery rates, minimize environmental and human safety concerns, and considerably reduce drilling expenses.

In recent years, the emergence of big data and the development of mechanisms to exploit these data have largely transformed the oil and gas analytics market. The growing adoption of Internet of things (IoT) and sensors has increasing added to the capabilities of oil and gas analytics to guide decisions. Big data analytics are increasingly being used by oil and gas majors such as Royal Dutch Shell, BP, Total, ExxonMobil, and Chevron to streamline various workflows that include refinement, transport, and retail distribution of oil and gas. The oil and gas analytics has occupied crucial point between data scientists and technical petroleum professionals including engineers. This has at times led to interesting technology breakthroughs in oil and gas exploration and production. Furthermore, witnessing the possibility of potential rewards, several major technology players such as Amazon, IBM, and Microsoft are offering innovative offerings to drive analytics-driven decisions.

Request Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=662

Global Oil and Gas Analytics Market: Overview

Oil and gas analytics instrument is employed to obtain actionable judgment for improving upstream, downstream, and midstream business processes. This is done by analyzing big data in order to provide real-time analysis for accurate decision making, enhancing productivity, reducing finance risk, and for finding the major cause of production loss.

The report presents facts and figures relevant to the global oil and gas analytics market in a chronological order. With an analysis of past and current growth trends, analysts present satisfactory predictions regarding the growth prospects of the market. Thus, the users of the report receive accurate predictions of the global oil and gas analytics market that can be utilized to devise cutting-edge business strategies for the future. Using standard analytical tools such as SWOT analysis and Porter’s Five Forces analysis, the market study presents useful insights about the indices of strengths, weakness, opportunities, and threats of the market from 2017 to 2025.

Request TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=662

Global Oil and Gas Analytics Market: Drivers and Restraints

The plummeting crude oil prices combined with high costs of exploration and production of conventional and unconventional resources is driving the global oil and gas analytics market. The use of analytic tools is effective for obtaining real-time data at reduced cost and to improve production efficiency from 6% to 8%. The rising demand for midstream infrastructure will also augment the growth of this market over the next few years. Moreover, increasing volume of data in the oil and gas industry will further fuel the growth of the oil and gas analytics market between 2017 and 2025.

The abundance of unconventional resources in the U.S. is further favoring the market’s growth. In 2016, a U.S. based company Cobalt discovered a natural gas well in Block 20 offshore Angola and recent exploration of the well by Sonangol is expected to produce 2 million barrels of oil per day for the next three years.

The expansion of oil and gas refineries to cater to the increasing demand for petroleum products is expected to boost the growth of the oil and gas analytics market. For instance, in 2016, ExxonMobil announced that it will expand the refining capacity of Beaumont refinery to 40,000 barrels by 2018.

Strict government regulations for enhanced safety during oil and gas operations will further boost the market’s growth. The increasing investments in digital technology by oil and gas companies for increasing workforce productivity and reducing cost will fuel the growth of the global oil and gas analytics market in the coming years.

Read Comprehensive Overview of Report@ https://www.tmrresearch.com/oil-gas-analytics-market

Global Oil and Gas Analytics Market: Regional Outlook

North America is the largest market for oil and gas analytics. In this region, the U.S. contributes significantly to the growth of this market due to the increasing exploration of unconventional resources. However, Asia Pacific is expected to emerge as a significant market for oil and gas analytics. The increasing number of refineries in India combined with the increasing capacity of existing refineries is fuelling the growth of the regional market. Europe accounts for a significant share in the global oil and gas analytics market. The increasing adoption of digital technology for optimizing oil and gas operations will drive the oil and gas analytics market in this region.

About TMR Research

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth researh of the market, we try to bring about game-changing success for our clients.

Contact :

Rohit Bhisey
Head - Internet Marketing
Tel: +1-415-520-1050
Email: sales@tmrresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
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 Oil and Gas Analytics Market: Industry Research and Forecast Analysis 2017 here

News-ID: 616622 • Views: 274

More Releases from TMR Research

Lecithin Market- Top Key Participants, In-depth Analysis, Revenue, Challenges An …
Lecithin Market: An Overview Lecithin market is increasingly expanding into new regions, thanks to rising large-scale food processing, and rising demand for cost-effective raw materials. The market remains a fragmented and competitive landscape as technical knowledge for manufacturing lecithin remains widespread. Moreover, the entry to barrier in this market are also relatively small as new players the production costs for making end-products for food mixtures remains within the grasp of several
Marula Oil Market Top Key Players, Business Overview, Revenue, Upcoming Trends t …
Global Marula Oil Market: Overview Marula oil can be separated from the bits (nuts) of the products of the Marula trees. Marula is a normal sized fruit from dioecious tree which are found in the Miombo forests of Southern Africa, West Africa. Marula oil can be extracted either from the seed of the marula natural product or from the nut hard shell and is customarily utilized over a few enterprises including,
Industrial Hemp Market In-Depth Overview, Growth Factors, Regional Analysis And …
Global Industrial Hemp Market: Overview The global industrial hemp market is projected to chart a stellar growth between 2019 and 2029, owing to an impressive CAGR (Compound Annual Growth Rate) of 14.0%. The growth is majorly attributable to rising demand for bakery products like cookies and bread. Besides, its use in a number of products like salad dressings, cooking oil, and dairy alternatives has a positive role to play too. Get Brochure
Mineral Salt Ingredients Market Industry Challenges, Business Overview and Forec …
Global Mineral Salt Ingredients Market: Overview The rising incidence of diseases related to iron-deficiency has played a key role in driving demand within the global mineral salt ingredients market. There is increasing apprehension about widespread toll of such diseases, especially in developing countries. Therefore, the efforts of governments to improve the human development index of nations have focused on improved healthcare and disease prevention. This trend has led to the production

All 5 Releases


More Releases for Oil

Base Oil Market
Base Oil Market Size Worth $ 48,347.04‬ Million By 2026 | CAGR: 1.2% The global Base Oil market size is expected to reach USD 48,347.04‬ million by 2026 according to a new study by WhipSmart MI Research. The report “Base Oil Market by Type (Group I, Group II, Group III, Group IV and Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluid, Greases, Hydraulic Oil and Others) and By Regions,
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela. The demand for
Oil Sands - Thematic Research
Oil Sands - Thematic Research Summary Oil sands, an unconventional hydrocarbon resource, holds vast growth potential for crude oil production amid declining output from maturing conventional fields and slowing pace of new discoveries. The oil sands deposits in Alberta, which are among the world's largest hydrocarbon reserves, are playing an influential role in driving the oil and gas industry in Canada. Despite facing severe backlash from environmentalists around the world, there has
Gingelly oil Market
https://www.qandqmarketresearch.com/reports/7431261/gingelly-oil-market-48 The global Gingelly oil market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 20192025. This report focuses on Gingelly oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Gingelly oil market size by analyzing historical data and future prospect. Regionally, this report focuses on
Cottonseed Oil Market
Global cottonseed oil market is expected to grow at a steady rate as the product is used in processing of many food & beverage products. It has neutral flavour and is said to enhance the natural taste of food products in which they are used. Thus, they are used extensively for frying and baking purposes. Margarines, whipped toppings, icings, salads, potato chips & french fries, cereals, baked goods, stir-fried and
Automotive Gear Oil Market
Automobile gears (or cogs) are rotating machine part having cut teeth, or cogs which mesh with another toothed part in order to transmit torque. The arrangement of two or more gears forms automotive transmission system. Automotive gear oil can be petroleum or synthetic based, used especially for lubricating automotive gears for all class of vehicles. It provide high transmission efficiency, reduce engine heating, provides proper clutch friction, insure better oxidation