According to the research report titled ‘Middle East Oil And Gas Analytics Market Size By Deployment, Service, Application, Industry Analysis Report, Regional Outlook, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2020 a?? 2026’, available with Market Study LLC, Middle East oil and gas analytics market is expected to record substantial growth during 2020-2026.
 

Escalating investments towards E&P projects coupled with fluctuating prices of oil & gas is a major factor driving the growth of Middle East oil and gas analytics market. Rising adoption of business intelligence and production forecasting solutions in tandem with ongoing development of business centric algorithms and strategies are further aiding them market expansion. Increasing number of oil refineries and numerous exploration activities are also stimulating the industry outlook.
 

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There has been high inclination towards digitizing of oil & gas field in order to encourage workforce productivity as well as to lower operational costs. In addition, volatility in supply and demand is also facilitating the business scenario.
 

With regards to deployment type, on-premise segment of Middle East oil and gas analytics industry is anticipated to witness considerable growth during the forecast period. On-premise deployment allows complete control of analytics conducted. Additionally, effective uptime, autonomous configurational control, and customized security protocols are fueling the segmental share.
 

In terms of service type, Middle East oil & gas analytics market share from professional segment is expected to register strong CAGR through 2026. The service offers reliable forecasts, high profit margins, and efficient utilization of resources. Apart from this, growing demand for advanced decision making tools is favoring the market scenario.
 

Moving on to application scope, the report cites that midstream segment is poised to accumulate substantial returns in the subsequent years. Easy monitoring capabilities, accurate predictions, and ability to collect information from wide array of sources are boosting the demand for oil & gas analytics from midstream application.
 

Considering the geographical landscape, oil and gas analytics market in Angola is predicted to expand considerably during the analysis timeframe. Increasing production and exploration of oil fields in tandem with rising number of refineries are augmenting the regional demand.
 

Hewlett Packard Enterprise, Capgemini SE, SAS Institute Inc., Hitachi Ltd., IBM Corp., Teradata Corp., TIBCO Software Inc., SAP SE, Oracle Corp., Microsoft Corp., Deloitte Touche Tohmatsu Limited, Cognizant, Cisco Systems Inc., and Accenture plc are the major companies operating in Middle East oil and gas analytics market.