Oil and Gas Analytics Market worth $19.65 Billion by 2019, According to a New Study on ASDReports

Wednesday 17 September 2014, Amsterdam

The report, now available on ASDReports, "Oil and Gas Analytics Market by Software (Upstream, Midstream, and Downstream), by Deployment Model, by Services, and by Regions - Forecasts and Analysis (2014 - 2019)" defines and divides the computer graphics market into several sub-segments along with a detailed analysis and forecasting of revenues generated from each division. It also provides a detailed insight into the drivers and restraints for the market and identifies the opportunities, challenges and ongoing market trends.

Analytics solution for the oil and gas industry helps to gain a holistic view of the operations; helps to keep pace with vibrant markets, customer needs, and regulations. Oil and gas analytics software allows companies to understand the dependencies, objectives and meet the target by analyzing the complete project lifecycle.  Moreover, improve operation and enhance productivity, examine supply chain performance and verify the root cause of production loss. These graphics software are being employed by businesses around the world to improve efficiencies of their business processes along with enhancing and innovating product design and features.

The drivers, restraints and opportunities along with the time-impact analysis have been identified in the report. The drivers for this market are listed as global demand for oil and gas, untapped value of big data in oil and gas industry, and asset-intensive oil and gas industry. The restraint for this market is the price volatility in oil and gas market, stringent regulations and compliances over the oil and gas industry, harsh climatic conditions and communication links. Cloud analytics, and evolutions of digital oilfields have been acknowledged as the opportunities in this market. Whereas, depleting oil and gas reserves, aging workforce in the oil and gas industry are the major challenges.

The new report has extensively divided the oil and gas analytics market by software: software used in upstream, midstream and downstream; by deployment platform: on-premise, and hosted; by services: professional services, integration services, and cloud services; by regions: North America (NA), Europe (EU), Asia Pacific (APAC), Latin America (LA) and Middle-East and Africa (MEA).

The oil and gas analytics market is estimated to grow from $4.29 billion in 2014 to $19.65 billion in 2019 at a Compound Annual Growth Rate (CAGR) of 35.5% from 2014 to 2019. On geographical grounds, Middle-East and Africa (MEA) is forecasted to be the biggest market for oil and gas analytics market followed by North America (NA) and Asia Pacific (APAC).