New Report Explores the Global Exploration & Production (E&P) Software Market Analysis and Forecast 2016 - 2024

The global exploration and production software market has been gaining an accelerated momentum. The market is likely to be driven by the high adoption of technology make processes efficient and accurate. The report predicts that that global exploration and production software market will be worth US$14.7 bn by the end of 2024 from US$3.1 bn in 2015. The growth in the global market will be recorded at a CAGR of 18.9% between the forecast years of 2016 and 2024. The growth of the global oil and gas industry is the obvious reason for the soaring revenue of the exploration and production software market. Incremental investments in pipelines and refineries in the Americas, APAC, and Middle East & Africa are likely to be pivotal factors steering the global market toward growth.

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Focus on Unconventional Gas Resources Drives Global Market

The market is also driven by the increasing exploration level of unconventional gas resources worldwide. In recent years, the depletion of conventional gas sources has motivated several companies to focus on unconventional sources. Extraction of unconventional gas sources requires the use of latest software and technologies for ensuring horizontal drilling. This has also reduced the carbon footprint of the oil and gas industry. Furthermore, the valuable additions to the technological advancements have driven the usage of oilfield equipment that use exploration and production software across the globe. The market’s growth is currently restricted by the fluctuating oil and gas prices worldwide.

In terms of exploration and production software types, the market has been segmented into resource valuation, risk management mapping, portfolio aggregation, seismic amplitude analysis, navigation system, performance tracking, reservoir characterization, drilling, reservoir simulation, and production. In 2015, the market was led by reservoir simulation software which accounted for approximately 20% of the global market revenue. Analysts anticipate that production software will also be a leading software segment in the global exploration and production market during the forecast period of 2016 to 2024.

North America to Lead Global Market as Investments in Exploration of Shale Gas Improve

In terms of geography, the global exploration and production software market is fragmented into Asia Pacific, the Middle East and Africa, Europe, and South America. Of these regional markets, North America held a share of 34% in the global market in 2015. The North America exploration and production software market is projected to continue its dominance throughout the forecast period due to rising investments in shale gas in the U.S. The report also suggests that the Middle East and Africa market is also expected to witness maximum growth rate during the forecast period. The growing number of offshore developments across the Middle East and Africa have been identified as the top driving factors.

The key operating players in the global exploration and production software market are Schlumberger Limited, Paradigm B.V., ION Geophysical Corporation, ETL Solutions Ltd., Exprodat Consulting Ltd., Landmark Solutions, Baker Hughes Incorporated, IHS Inc., Emerson Electric Co., Computer Modelling Group Ltd., Kongsberg Gruppen ASA, GE Oil & Gas, Pason Systems Corp., Ikon Science Limited, GEPlan Consulting Srl, Interactive Network Technologies, Inc., Peloton, Petroleum Experts Ltd., RockFlow Dynamics, LLC, OVS Group LLC, P2 Energy Solutions, Petrolink Services, Inc., EDrilling AS, and TDE Group GmbH.

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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 considered as the base year. The report covers all the major trends and technologies playing a major role in the Exploration & Production (E&P) Software market growth over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa and South America.

The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. It also provides an overview about the key market indicators wherein the global production in oil & gas industry has been given across the five geographical regions. Under the porter’s five forces analysis section, a brief analysis of the level of competition within the E&P software industry and business strategy development is provided in order to determine the competitive attractiveness and intensity of the E&P software market.

Global Exploration and Production Software Market: Scope of the Report

The report also provides the competitive landscape for the Exploration & Production (E&P) Software market, thereby listing out all the major players according to their geographic presence, market attractiveness and recent key developments. The competitive landscape section of the report gives an overview about the market share of several key players in the market for the year 2015. The Exploration & Production (E&P) Software market data estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the market growth. Moreover, key takeaways section provided at the end of competitive landscape section would help the operating companies to make the best move in this market.

Global Exploration and Production Software Market: Segmentation Analysis

Based on different deployment options for E&P software, the report segments the Exploration & Production (E&P) Software market into on-premise and cloud-based software. On the basis of operation type, the market has been segmented into on-shore and off-shore. The market has further been classified into several E&P software types such as risk management mapping, seismic amplitude analysis, portfolio aggregation, performance tracking, navigation system, resource valuation, reservoir characterization, reservoir simulation, drilling and production. Moreover, the software type segments mentioned above has further been classified into different software types and analyzed throughout the report. In terms of geography, the global exploration and production (E&P) software market is classified into North America, Europe, Middle East & Africa, and South America.   

Key Players Mentioned in the Report are:

Schlumberger Limited, Paradigm B.V., ION Geophysical Corporation, ETL Solutions Ltd., Exprodat Consulting Ltd., Landmark Solutions, Baker Hughes Incorporated, IHS Inc., Emerson Electric Co., Computer Modelling Group Ltd., Kongsberg Gruppen ASA, GE Oil & Gas, Pason Systems Corp., Ikon Science Limited, GEPlan Consulting Srl, Interactive Network Technologies, Inc., Peloton, Petroleum Experts Ltd., RockFlow Dynamics, LLC, OVS Group LLC, P2 Energy Solutions, Petrolink Services, Inc., EDrilling AS, and TDE Group GmbH are few of the key players which have been profiled in this study. Details such as financials, business strategies, SWOT analysis, and other such strategic information pertaining to these players has been duly provided as part of company profiling.

The Exploration & Production (E&P) Software market has been segmented as below:

The Exploration & Production (E&P) Software, By Deployment Type

On-premise Software
Cloud-based Software
The Exploration & Production (E&P) Software Analysis, By Operation Type

On-shore
Off-shore
The Exploration & Production (E&P) Software Analysis, By Software Type

Risk Management Mapping
Seismic Amplitude Analysis
Portfolio Aggregation
Performance Tracking
Navigation System
Resource Valuation
Reservoir Characterization
Reservoir Imaging
Reservoir Monitoring
Subsurface Evaluation
Pressure & Flow-rate Measurement
Reservoir Simulation
Black Oil Simulator
Compositional Simulator
Thermal Compositional Simulator
Drilling
Well Planning
Trajectory Design
Survey Database
Drilling Engineering
Casing Design
Cement Design
Hydraulics
Mud Design
BHA Design & Analysis
Well Barrier
AFE
Drilling Operations
Drilling Optimization
Operational Efficiency – KPI Monitoring
Wellsite Reporting
Data Aggregation
Drilling Automation
Drilling Data Management Well Control
Production
Production Engineering
Flow Assurance Engineering
Production Analytics
Production Operations
Production Data Management Systems (PDMS)
Digital Oilfield
The Exploration & Production (E&P) Software Analysis, By Country/Region

North America
The U.S.
Canada
Rest of North America
Europe
Germany
France
The U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia Pacific
Middle East & Africa
The UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America

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