Oil & Gas Analytics Market Technological Trends and Opportunities 2021 To 2030| Key Players IBM Analytics, Accenture, SAP SE, Cisco Systems

Allied Market Research Published Latest Report, titled, “Oil & Gas Analytics Market by Service, Deployment, Application Mode and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030” provides a comprehensive study of the global Oil & Gas Analytics Market along with an analysis of dynamic growth factors, challenges, constraints, and opportunities. Moreover, the report offers detailed insight regarding leading market players and their business strategies that could help new market entrants, shareholders, and stakeholders to make informed business decisions.

The employment of analytic tools is useful in the oil & Gas business for collecting real-time data at a lower cost and improving production efficiency. The growth of the oil & Gas analytics market is expected to be aided by the construction of oil & Gas factories and rise in demand for petroleum products. Strict government safety regulations for oil & Gas operations help the business thrive. The oil & Gas market is driven by increased oil & Gas exploration and production operations. Oil & Gas analytics aid in the extraction of unconventional fuels. To come up with optimal extraction methods, companies are investing heavily in research and development, as well as the adoption of oil & Gas analytics software. Unconventional fuel production is thus likely to boost the global oil & Gas analytics market in the near future. However, poor data quality and resistance to data integration is expected to stymie the growth of the oil & Gas analytics market. Low data quality is due to a number of factors, including current technological resources and methods. As a result, data integration creates a significant barrier in terms of data quality and the ability to interpret data.

Analysts, managers/senior managers, and other professionals are in charge of managing analytics by function or department. This prevents end-to-end workflows from being integrated. The oil & Gas business are continually confronted with resource optimization and supply-demand imbalances. In the face of low oil prices and the rise in E&P costs, firms in the oil & Gas industry have begun to implement novel technology and techniques to improve operations and profits. Adoption of oil & Gas analytics solutions is one of the most practicable and practical answers to the oil & Gas industry’s problems. Most of the major players in the oil & Gas industry have begun to use analytics services to optimize resource allocation and close the demand-supply gap. This is expected to almost certainly present more lucrative opportunities for the oil & Gas analytics market.

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The report includes detailed analysis includes an in-depth study of drivers, restraints, challenges, and opportunities. This study helps new market entrants, shareholders, and stakeholders to understand the dynamic factors that drive the market growth and help them make informed decisions.

The Oil & Gas Analytics Market report includes Porter’s five forces analysis, SWOT analysis, and PESTEL analysis that provides industry-related data and valuable information in tabular format. The SWOT analysis is vital to understand the positive and negative attributes of the Oil & Gas Analytics Market. On the other hand, Porter’s five analysis and PESTEL analysis focuses on which factors can benefit the company and help in the long term.

Furthermore, the report highlights upstream raw materials, downstream customer surveys, marketing channels, and industry development trends that offer valuable information regarding leading manufacturing equipment suppliers, raw materials suppliers, major distributors, and major customers.

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Market Trends

  • Hitachi, Ltd. and Microsoft Corp. established a multiyear strategic agreement in June 2020 to drive the digital transformation of the manufacturing and logistics industries in Southeast Asia, North America, and Japan. 
  • Capgemini announced in July 2020 that it has been chosen as the Financial Services Compensation Scheme’s key technology partner (FSCS). Capgemini is expected to employ FSCS to foster innovation through the use of digital, cloud, and application technologies under the new five-year deal. 
  • Nesh, a firm located in the U.S., is developing an AI-powered chatbot for the whole oil & Gas value chain. Nesh, the startup’s virtual assistant, gathers data from a variety of sources and uses natural language processing to answer industry-related questions (NLP). Nesh helps oilfield operators to solve a wide range of difficulties. In addition, the chatbot gives pertinent insights and discovers fresh knowledge from the data, allowing on-site operators to make quick and informed judgments. 
  • Phoenix RDS, a British firm, uses data analytics to deliver drilling, production, and waterflood optimization solutions. Pheonix RDS also offers optimization techniques for improved oil recovery in addition to its reservoir modelling algorithms (EOR). These technologies help oil & Gas asset owners and operators by increasing reservoir sweep efficiency and lowering injection volume requirements. This allows oil corporations to cut costs even further while increasing asset value.

The market is analyzed based on regions and competitive landscape in each region is mention. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.

The research offers an extensive analysis of key players active in the global Oil & Gas Analytics industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include IBM Analytics, Accenture, Oracle Corporation, SAP SE, Microsoft Corporation, Hewlett Packard Enterprise Development LP, orthwest Analytics,Inc, TABLEAU SOFTWARE, LLC SAS Institute Inc, Cisco Systems, Inc.. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

Key Benefits of Report

  • This study presents the analytical depiction of the Oil & Gas Analytics industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Oil & Gas Analytics market share.
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the Oil & Gas Analytics market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Oil & Gas Analytics market analysis based on competitive intensity and how the competition will take shape in the coming years.

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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