December 13, 2019
According to the latest study titled ‘U.S. Oil and Gas Analytics Market Size By Deployment (On Premise, Hosted), By Service (Professional, Cloud, Integration), By Application (Upstream [Exploration and Drilling, Field Surveillance and Monitoring, Production Planning and Forecasting, Equipment Maintenance Management, Asset Performance, Workforce Management], Midstream (Surface and Lease Equipment, Gathering & Processing [Gas Gathering Lines, Oil Gathering Lines, Compressors, Processing Plants, Fractionation Facilities], Oil, Gas & NGL Pipelines [Oil Lines, NGL Lines, Gas Lines, Oil Line Pumps, NGL Line Pumps, Gas Line Compressors], Oil & Gas Storage [Oil Storage, Gas Storage], Refining & Oil Products Transport [Refining, Oil Product Pipeline, Oil Product Pipeline Pumps, Rail Transport], Export terminal [LNG, NGL]), Downstream [Commodity Trading, Demand Forecasting, Pricing, Refining]), Industry Analysis Report, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the U.S. oil and gas analytics market is estimated to register a growth rate of 14.5% through the year 2025.
The U.S. oil and gas analytics market is propelled by the increasing demand for adoption of data gathering technologies and growing cognizance toward importance of data. The rapid deployment of IoT, IIoT, Big Data Platforms, and sensors is creating huge data collection for analysis, hence aiding the industry trends. Furthermore, the abundant availability of proven oil & gas reserves, accompanied by focus on exploration of unconventional reserves will proliferate the growth of U.S. oil and gas analytics market.
According to the study, the U.S. oil and gas analytics market was valued at US $825 million in 2018. The report states that based on application segment, inflow of investment towards improving infrastructure including refineries, pipelines, and storage terminals will stimulate the U.S. oil and gas analytics market.
Moreover, gathering & processing sector accounted for US $4.9 billion in 2017, while refining segment was worth US $5.2 billion in the same year. Expansion of these sectors can be attributed to surging supply oil and gas across the region, which is impelling the demand for oil & gas analytics in the United States.
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As per deployment, U.S oil & gas analytics market from on-premise segment is estimated witness momentous growth over the forecast period, as the applications enable easy data collaboration and improved network security at low cost.
Some of the vendors that operate in U.S. oil and gas analytics market are Accenture, Microsoft Corporation, Cognizant, IBM, Oracle, SAP SE, Cisco Systems, Inc., Teradata, Tableau Software, Hitachi Ltd. and Capgemini among others.
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