Market Overview/Outlook (2022 to 2032)



The global market for Oil and Gas Analytics is expected to grow between 2023 and 2032 due to factors like increased demand for energy, growing complexity in operations, cost reduction and operational efficiency, and asset performance management.

The Global Oil and Gas Analytics Market was valued at USD 10.83 Billion in 2022 and is projected to reach USD 33.35 Billion by 2032, registering a CAGR of 19.93% for the forecast period 2023-2032.

Global Oil and Gas Analytics Market Drivers



Increased Demand for Energy: To meet increased production targets, oil and gas companies must optimize their production processes in response to the growing demand for energy. Analytics facilitates the tracking and examination of production data to spot inefficiencies, optimize processes, and raise total production yield. Oil and gas companies must effectively explore and develop new reserves to meet the increased demand. By offering insights into geological data, analytics helps companies identify possible reserves and make well-informed decisions about drilling and reservoir management, thereby supporting exploration activities. The infrastructure for gas and oil must function as efficiently as possible to meet the energy demand.



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Global Oil and Gas Analytics Market – Merger and Acquisitions



Hitachi and Microsoft form a strategic alliance to advance next-generation digital solutions for manufacturing and logistics across Southeast Asia, North America, and Japan (2020)



Hitachi, Ltd. and Microsoft Corp. announced a multiyear strategic alliance to accelerate the digital transformation of the manufacturing and logistics industries across Southeast Asia, North America, and Japan. The first solutions will be available in Thailand in July 2020. The two companies will work together to meet the growing demand for predictive maintenance and process automation in remote areas and support enterprises as they tackle the challenges infused by the COVID-19 pandemic. Hitachi will integrate its industry-leading solutions, such as Lumada, and its IoT-ready industrial controllers HX Series, with the Microsoft cloud platform, leveraging Azure, Dynamics 365, and Microsoft 365 to help businesses increase their workforce productivity and operational efficiency.



Regional Analysis:



North America:



United States: The global oil and gas industry is among the biggest and most sophisticated in the United States. There is a sizable market for analytics solutions to improve productivity and optimize operations due to the existence of several exploration and production companies, refineries, and other associated entities. In the oil and gas industry, the United States has led the way in implementing cutting-edge technologies, such as analytics. Businesses in the area are probably going to spend money on analytics solutions to attain operational excellence, boost asset performance, and obtain a competitive advantage.



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List of Prominent Players:



Accenture
Hewlett Packard Enterprise Development LP
Hitachi
IBM Analytics
Microsoft Corporation
Northwest Analytics, Inc.
Oracle Corporation
SAP SE
SAS Institute
Tableau Software, LLC.
Others


Segmentation of Global Oil and Gas Analytics Market:



By Offering:

Software
Services


By Deployment:

On-Premises
Hosted


By Application:

Upstream
Midstream
Downstream


By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Southeast Asia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (GCC Countries, UAE, Rest of MEA)


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