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Global Oil and Gas Data Management Market Size, Share - Industry Trend and Forecast 2016 - 2023
Oil and Gas Data Management Market: Overview
Even as the global oil and gas industry goes through a phase of change with a growing emphasis on exploring offshore reserves, it finds itself more dependent than ever before on technologies to analyze swathes of data to optimize business performance and enhance safety standards. The need for oil and gas data management technologies arises from the various regulatory changes being imposed on the industry. A number of leading IT companies have diversified their portfolio to cater to the needs of the oil and gas sector, giving oil and gas companies ample choice when choosing a vendor.
From exploration and production to trading and retail, the oil and gas sector produces massive amounts of data at every stage. Classifying and streamlining this data is necessary to optimize these functions. This report studies the global oil and gas data management market to provide forecasts through 2023, identify trends and opportunities, and evaluate the competitive landscape.
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The market can be segmented on the basis of the type of data management solutions and geography. According to type, the market is segmented into IT infrastructure and data organization. Likewise on the basis of geography, the global oil and gas data management market is segmented into: Europe, North America, Asia Pacific, and the Rest of the World.
Oil and Gas Data Management Market: Drivers and Restraints
Greater reliance on the use of information technology to maximize oilfield recovery and minimize nonproductive activities will act as a high-impact growth driver for the global oil and gas data management market. From the standpoint of vendors, technologies that have proven their efficiency in streamlining integrated workflows in oilfields have earned enormous profits. This has spurred further research and development in the global oil and gas data management market. Several new products and solutions are thus expected to be launched in the market over the forecast period of this report.
However, the market’s growth could be hindered by factors such as lack of awareness about the benefits of oil and gas data management. The market’s growth could also be hampered because of the high initial investment required to implement a data management solution. Moreover, massive amounts of real-time data is produced during the exploration of reserves – this necessitates failsafe data management considering the high risk to life and property present at exploration sites.
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These restraints can be mitigated to some extent by the trailblazing technologies that are changing the future of the oil and gas sector. These technologies are centered on operations such as transportation, geophysical assessment, distribution and refinement, and others. These will substantially fuel the demand for data management solutions in the global oil and gas industry.
Oil and Gas Data Management Market: Competitive Outlook
Companies such as IBM, Wipro, SAP, Oracle, and NetApp are at the forefront of the global oil and gas data management market. Although these large companies already have a firm foothold in the market, the market’s dynamics are being gradually disrupted by the emergence of innovative start-ups. Many of these smaller companies provide niche solutions at highly competitive prices. This factor will contribute to the growth of the global oil and gas data management market, helping the market achieve a strong rate of growth.
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This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
It provides distinctive graphics and exemplified SWOT analysis of major market segments
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