Press Release

Big Data in Oil and Gas Exploration and Production Market 2019 is Projected to Exhibit a CAGR of 0% during the Forecast period 2023 Includes business research, Key players, Revenue Size and Share, Complete Industry Analysis

Big Data in Oil and Gas Exploration and Production

Big Data in Oil and Gas Exploration and Production Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Big Data in Oil and Gas Exploration and Production Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.

Top-Listed Players in Big Data in Oil and Gas Exploration and Production Market Research Report 2019-2023:

  • International Business Machines Corporation
  • Hitachi Vantara Corporation
  • Drillinginfo
  • Inc.
  • Oracle Corporation
  • Microsoft Corporation
  • Palantir Economic Solutions Ltd.
  • Northwest Analytics Inc.
  • SAP SE
  • Hortonworks Inc.
  • MapR Technologies

    Request a Sample copy of the Report – https://www.360researchreports.com/enquiry/request-sample/13100754

    Big Data in Oil and Gas Exploration and Production market reports provide a comprehensive overview of the worldwide market size and share. Big Data in Oil and Gas Exploration and Production market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.

    Overview of Big Data in Oil and Gas Exploration and Production Market Report:

    Volatile crude oil price and increasing competition in the oil & gas industry have driven the use of big data to make smart decisions. With crude oil price crossing USD 60 barrel mark, increase in seismic, drilling, logging and production activities are expected to increase the volume of data and data velocity. As a result, big data in the global oil & gas exploration and production market is expected to witness an exponential growth in the forecast period.

    Increasing Exploration and Production Activity

    With crude oil price crossing USD 60 per barrel mark, exploration and production activities are expected to increase over the coming years. Cheap sensors and ever-greater computing power are likely to increase the volume of data collected by the oil & gas industry. Modern offshore drilling platforms have about 80,000 sensors, which are expected to generate 15 petabytes of data during the life of the asset. Big data and analytics are expected to help the industry navigate the vast data, which is expected to drive the big data market.

    Lack of Awareness – Restraints the Market

    The oil & gas industry faces lack of awareness in terms of big data. Only 36% of the oil & gas companies have invested in big data and analytics. However, only 13% of them use the insights from technology, as enhanced business intelligence solution. This underlines the fact that many companies have not embedded big data and analytics completely in their systems, but are just applying a part of the technology. Several companies do not have a clear idea about the new technologies hitting the market. Coupled with the fact that a small number of players have a clear idea about the enhanced business intelligence solution available through the use of big data solutions, lack of awareness is considered to be a restraint for the market.

    North America to Dominate the Market Share

    North America accounts for the major share in global big data in the oil & gas industry. The market is driven by high demand for IT solutions in Gulf of Mexico and the US shale fields, to enhance their productivity and decision making process. ConocoPhillips said that the sensors the company deployed in Eagle Ford shale basin of South Texas helped reduce the drilling time by around 50%. North Sea is expected to account for second-largest share in the market. Digitalization of oilfields in the region contributed to 40% reduction in operating cost in the North Sea, during the low oil price regime.

    Digitization of Saudi Arabia’s Oilfields

    Saudi Aramco is the biggest oil & gas player in Saudi Arabia. The company is entering into agreements with several companies for digitization of its operations, in the country. Saudi Aramco has signed an MOU with Honeywell. The companies will work together to increase yield, throughput, and improve reliability of Saudi Aramco’s operations by deploying Honeywell’s predictive analytics solutions and cloud-based services.

    Enquire before purchasing this report @ https://www.360researchreports.com/enquiry/pre-order-enquiry/13100754

    REASONS TO PURCHASE THIS REPORT

  • Effect of evolving technologies, changes in energy mix, strategic developments in the oil industry and government regulations in the global big data in oil & gas exploration and production market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Identify product type dominating the market.
  • Identify regions witnessing fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support, along with the Market Estimate sheet.

    Valuable Points from Big Data in Oil and Gas Exploration and Production Market Research Report 2019-2023:

    • A complete background analysis, which includes a valuation of the parental Big Data in Oil and Gas Exploration and Production Market.
    • Significant changes in Market dynamics.
    • Big Data in Oil and Gas Exploration and Production Market segmentation according to Top Regions.
    • Current, Historical, and projected size of the Big Data in Oil and Gas Exploration and Production Market from the viewpoint of both value and volume.
    • Reporting and assessment of recent industry developments.
    • Big Data in Oil and Gas Exploration and Production Market shares and strategies of key Manufacturers.
    • Emerging Specific segments and regional for Big Data in Oil and Gas Exploration and Production Market.
    • An objective valuation of the trajectory of the Market.
    • Recommendations to Top Companies for reinforcement their foothold in the Market.

    Purchase this report (Price 4250 USD for a single-user license) @ https://www.360researchreports.com/purchase/13100754

    Highlights of the following key factors:

    • Business description –A detailed description of the company’s operations and business divisions.
    • Corporate strategy –Analyst’s summarization of the company’s business strategy.
    • SWOT Analysis –A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
    • Company history –Progression of key events associated with the company.
    • Major products and services –A list of major products, services, and brands of the company.
    • Key competitors –A list of key competitors to the company.
    • Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
    • Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.

    Top Most Regions Covered In Big Data in Oil and Gas Exploration and Production Market Research Report 2019-2023:

  • United States
  • Canada
  • Mexico
  • United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • GCC
  • South Africa
  • Brazil
  • Argentina

    Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.

    About 360 Research Reports:

    360 Research Reports is the credible source for gaining the market research reports that will exponentially accelerate your business. We are among the leading report resellers in the business world committed towards optimizing your business. The reports we provide are based on a research that covers a magnitude of factors such as technological evolution, economic shifts and a detailed study of market segments.

    CONTACT US

    Mr. Ajay More

    Phone: +14242530807 / + 44 20 3239 8187

    Email: [email protected]

  • Comments are closed.

    Recent Posts