Oil & gas project management software is an advanced version of software designed and developed to help oil & gas companies to optimize resources and track milestones for expansion into new markets, capital investments, production activities, or large exploration. It has become a necessity among oil & gas companies due to the complexity of their operations. The types of software can be integrated with oil and gas asset management, maintenance projects, back office, and accounting solutions to allocate, calculate, and manage project costs.
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Comprehensive competitive analysis and profiles of major market players such as Deltek, Inc., EcoSys Management LLC, Oracle Corporation, LiquidFrameworks, Inc., SAP SE, Penta Technologies, Inc., Siemens AG, IBM Corporation, InEight, Inc., and InEight, Inc. are also provided in this report.
The report segments the oil and gas project management software market on the basis of deployment model, application, product type, and geography. As per deployment model, the market is bifurcated into on-premise and cloud based. By application, the market is divided into upstream, mid & downstream, on-shore, and off-shore. Based on product type, it is classified into asset management, scheduling, inventory management, costing, analytics, contract management, maintenance, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global oil and gas project management software market is expected to register substantial growth in the near future, attributed to growth in need to simplify complexity of operations in oil & gas industry and cost-effective benefits of project management software in various activities such as planning, implementation, monitoring, evaluation, and reporting of the projects.
Further, its ability to enable effective decision making for on-time project delivery has increased its demand worldwide. However, increase in investments in alternate energy sources is expected to slow the adoption of oil and gas project management software.
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