The Business Research Company’s Oil And Gas Analytics Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Oil And Gas Analytics Global Market Report 2023 evaluates oil and gas analytics market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global oil and gas analytics market is expected to grow from $14.29 billion in 2022 to $17.04 billion in 2023 at a compound annual growth rate (CAGR) of 19.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The oil and gas analytics market are expected to reach $33.05 billion in 2027 at a CAGR of 18%.
The increasing demand for oil and gas is expected to propel the growth of the oil and gas analytics market in the coming future. Oil and gas refer to the two primary natural resources that are extracted and used as sources to generate electricity, heat homes and businesses, and power vehicles. Oil and gas analytics play an important role in the oil and gas industries, as they are extensively used in the sector to gain valuable insights, minimize costs of production, improve well integrity, provide preventive and predictive maintenance, optimize operations, and make data-driven decisions. For instance, in December 2022, according to the reports shared by the Energy Information Administration (EIA), a US-based government agency, US oil production increased from 11.2 million barrels per day (b/d) in 2020 to 11.6 million barrels per day (b/d) by 2021, and natural gas production increased from 112.6 billion cubic feet per day in 2020 to 118.7 billion cubic feet per day by 2021. Therefore, the increasing demand for oil and gas is driving the growth of the oil and gas analytics market.
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The oil and gas analytics market segments in the report are:
1) By Offering: Hardware, Software, Service
2) By Deployment Type: On-Premises, Hosted
3) By User Type: Large Enterprises, Small And Medium Businesses
4) By Application: Upstream, Midstream, Downstream
The table of contents in TBRC’s oil and gas analytics market report includes:
1. Executive Summary
2. Oil And Gas Analytics Market Characteristics
3. Oil And Gas Analytics Market Trends And Strategies
4. Oil And Gas Analytics Market - Macro Economic Scenario
5. Global Oil And Gas Analytics Market Size and Growth
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32. Global Oil And Gas Analytics Market Competitive Benchmarking
33. Global Oil And Gas Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Oil And Gas Analytics Market
35. Oil And Gas Analytics Market Future Outlook and Potential Analysis
36. Appendix
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Oil and gas companies are moving through a phase that could prove to be highly beneficial to the global oil and gas analytics market.
With the current oil prices slump showing very few signs of relief, crude extractors and refineries are looking to resolve their cost issues through optimizing their processes and increasing their production efficiencies.
The global oil and gas analytics companies can help crude players do just that; the companies can improve their ROI though making decisions and strategies based on these analytics, says Transparency Market Research.TMR’s new study reveals that the key players in the global oil and gas analytics market are highly oriented towards providing software services.
Request for Discount on This Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=D_id=11747Upstream Applications Will Continue Oil and Gas Analytics Dominance“High risk has always been a part and parcel of oil and gas core functions,” stated a TMR analyst.
This is a segment that includes key functions such as asset maintenance, risk assessment, drilling optimization, and production optimization.
All the above factors are in high demand in the crude industry, enabling this segment as a whole to progress at a rapid rate.Analytics Innovations and Customized Services are What Oil and Gas Companies are Looking ForThe key players in the global oil and gas analytics market are all highly capable of not only providing the best in software, hardware, and services, but are also providers of patented software programs to third party service providers on the basis of lease and licensing.
