Oil and Gas Analytics Market Size, Share Report, Analysis, Trends, Growth 2032

Oil and Gas Analytics Market: Size

The global Oil and Gas Analytics market size was worth around USD 5.58 billion in 2023 and is predicted to grow to around USD 71.44 billion by 2032 with a compound annual growth rate (CAGR) of roughly 32.76% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Oil and Gas Analytics market on a global and regional level.

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Oil and Gas Analytics Market: Overview

Analytical solutions for the oil and gas sector will help the related industries in having an aggregate view of their operations, aid in keeping up with the fiery/changing global market, fulfill dynamic customer needs, and adhere to strict government regulations. These solutions help organizations to better understand the overall lifecycle and work efficiently and effectively with the given resources. Moreover, these solutions will further enhance productivity and improve operations, which will drive the oil and gas analytics market globally in the future.

The oil and gas analytics help in analyzing the supply chain performance and identify the source of production loss. The rising global demand for oil and gas as a fuel is expected to boost the oil and gas analytics market. Furthermore, the increasing consumption of oil and gas in automobiles, public transports, aviation industry, power industry, and two-wheelers for commuting, both to and fro from work and leisure, will also propel the oil and gas analytics market. The depleting oil and gas reserves and rising concerns related to its alternative is a challenge faced by the global population, which is also driving this market. However, the oil extraction machines face harsh environments in deep waters and deserts and rising maintenance cost of oil refineries may hinder the oil and gas analytics market  growth in the upcoming years.

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Oil and Gas Analytics Market: Segmentation

The study provides a crucial view of the oil and gas analytics market by segmenting it based on software, deployment platform, service, and region. All the segments of the oil and gas analytics market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

The application segment of the market includes downstream, midstream, and upstream operations.

By service, the oil and gas analytics market comprises cloud, integration, and professional services.

Based on deployment, the market consists of hosted and on-premises. The hosted platform is expected to grow notably over the anticipated time period, owing to its cost-saving feature and productivity enhancement of a business.

Oil and Gas Analytics Market: Report Scope

Oil and Gas Analytics Market: Regional Analysis

The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe. 

North America is anticipated to hold a substantial share of the global oil and gas analytics market in the years ahead, owing to the early adoption of cloud-based technology and the presence of prominent players in the region. The increasing exploration and production of oil and gas in the region is also contributing to this regional market. In recent years,  North America has seen a rise in the production and exploration of unconventional oil and gas. Additionally, the analytical software will help the oil industry in resolving and achieving low maintenance and operational costs. The Asia Pacific region is likely to grow at a substantial rate over the anticipated timeframe in the oil and gas analytics market.

Oil and Gas Analytics Market: Competitive Players

Some noticeable players of the oil and gas analytics market are:

• Accenture
• Cisco Systems
• Hewlett-Packard
• Microsoft
• EMC Corporation
• IBM
• SAP
• Oracle
• Teradata

The Global Oil and Gas Analytics Market is segmented as follows:

Global Oil and Gas Analytics Market: By Application

• Upstream Operations
  • Exploration and Drilling Analytics
  • Production Planning and Forecasting Analytics
  • Field Surveillance and Monitoring Analytics
  • Equipment Maintenance Management Analytics 
  • Workforce Management Analytics
  • Asset Performance Analytics
• Midstream Operations
  • Fleet Analytics
  • Pipeline SCADA Analytics
  • Storage Optimization Analytics
• Downstream Operations
  • Pricing Analytics
  • Commodity Trading Analytics
  • Refining Analytics
  • Demand Forecasting Analytics

Global Oil and Gas Analytics Market: By Deployment Platform

• On-Premises
• Hosted

Global Oil and Gas Analytics Market: By Service

• Professional Services
• Integration Services
• Cloud Services

Global Oil and Gas Analytics Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa