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Data Analytics Market in Oil & Gas Industry Market to 2027- Global Analysis and Forecasts by Application, Component

Press release   •   Mar 01, 2019 15:19 IST

Data Analytics Market in Oil & Gas Industry Market

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global data analytics in oil & gas market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The data analytics in oil & gas market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

Some of the leading players in Data Analytics Market in Oil & Gas Industry Market: SAS Institute, Rolta India Limited, Cray Inc., Western Digital, SAP AG, Tableau Software, Teradata, IBM Corp, OAG Analytics, TIBCO Software Inc.

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The oil & gas industry while initiating the process of exploration, development and production of oil & natural gas produces huge amount of data. This volume of data grows every day, and coming couple of years the data is anticipated to become double of its current volume. The amount and frequency at which the data is growing in the oil & gas industry the industry players are projected to dramatically employ advanced data analytics tool in order to streamline their decision making capabilities.

Data volume in the oil industry has snowballed with a robust speed and handling a large amount of data efficiently becomes very important. Oil companies have always been generating extreme volumes of data at a very high rate on a daily basis. Traditionally, large volumes of data can be very expensive for both oil and gas producers. Such huge costs can significantly impact the financial performance of the company.

The global data analytics in oil & gas market is segmented on the basis of component and application. Based component, the market is segmented as solutions and services. On the basis of the application the market is segmented as upstream, midstream and downstream.

The report analyzes factors affecting data analytics in oil & gas market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the data analytics in oil & gas market in these regions.

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