The Oil And Gas Analytics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Oil And Gas Analytics Global Market Report 2024, The oil and gas analytics market size has grown rapidly in recent years. It will grow from $17.04 billion in 2023 to $20.32 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to growth in global energy demand, increase in exploration and production activities, adoption of advanced data analytics tools, demand for operational efficiency in oilfields, rise of big data analytics in the energy sector.
The oil and gas analytics market size is expected to see rapid growth in the next few years. It will grow to $38.7 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to focus on asset optimization and predictive maintenance, implementation of iot devices in oil and gas operations, adoption of cloud-based analytics platforms, increased emphasis on cybersecurity in analytics, emphasis on environmental and regulatory compliance, rise of remote monitoring and control systems. Major trends in the forecast period include integration of artificial intelligence in analytics, technological advances in sensor technologies, expansion of digital twin technology in oilfields, integration of machine learning for predictive analytics, edge computing for real-time analytics, integration of blockchain for secure data management.
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 covered in this report is segmented –
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
Technological advancements are a key trend gaining popularity in the oil and gas analytics market. Major companies operating in the oil and gas analytics market are focused on developing revolutionary and advanced technologies to strengthen their market share. For instance, in June 2023, TGT Diagnostics, UAE-based oil and gas analytics and diagnostics company, launched ChorusX, a unique and innovative diagnostic tool created to find and characterize movement in gas and oil wells. It uses acoustic array technology that allows energy businesses to quickly and precisely identify and map fluid flow across the well-reservoir system, assisting them in keeping wells clean, secure, and productive. ChorusX is a small array of eight nano-synchronized sensors that capture superior-resolution flow noises across a dynamic spectrum of levels and frequencies. Additionally, it improves efficiency and safety through early problem identification.
The oil and gas analytics market report table of contents 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 analysis
5.Oil And Gas Analytics Market Size And Growth
6.Oil And Gas Analytics Segmentation
7.Oil And Gas Analytics Regional And Country Analysis
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27.Oil And Gas Analytics Competitive Landscape And Company Profiles
28. Oil And Gas Analytics Key Mergers And Acquisitions
29.Oil And Gas Analytics Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Exxon Mobil Corporation
- Shell PLC, Microsoft Corporation
- Hitachi Ltd.
- Siemens AG
- Accenture PLC
- International Business Machines Corporation (IBM)
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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.
Terminal automation is a system that eases the product handling at the terminal and enables integration of these operations with the business software.
It is used to measure, control, automate, and report all the exchanges and transfers.
It offers complete management from receipt of the product to inventory control to dispatch recording.The Terminal Automation in Oil and Gas market was valued at 820 Million US$ in 2018 and is projected to reach 1390 Million US$ by 2025, at a CAGR of 6.9% during the forecast period.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Terminal Automation in Oil and Gas.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-terminal-automationoil-gas-2025-379This report presents the worldwide Terminal Automation in Oil and Gas market size (value, production and consumption), splits the breakdown (data status 2014–2019 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.The following manufacturers are covered in this report:ABBEmersonImplico GroupSchneider ElectricYokogawaTerminal Automation in Oil and Gas Breakdown Data by TypeHardwareSoftwareServicesTerminal Automation in Oil and Gas Breakdown Data by ApplicationGas TerminalOil TerminalTerminal Automation in Oil and Gas Production by RegionUnited StatesEuropeChinaJapanOther RegionsTerminal Automation in Oil and Gas Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandVietnamThe study objectives are:To analyze and research the global Terminal Automation in Oil and Gas status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Terminal Automation in Oil and Gas manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Terminal Automation in Oil and Gas :History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year: 2019–2025This report includes the estimation of market size for value (million USD) and volume (K Units).
Both top-down and bottom-up approaches have been used to estimate and validate the market size of Terminal Automation in Oil and Gas market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
