Oil & Gas Cloud Application Market

SKU: DMICT240 | Last Updated On: Dec 22 2022 | Available Formats

> Global Oil & Gas Cloud Application Market Expected to reach a high CAGR of 14.80% By 2029: DataM Intelligence

The global Oil and Gas Cloud Applications Market is segmented By Deployment (Hybrid, Private and Public), By Solution (ERP, HCM, CRM, Data Analytics, Others), By End-User (Small & Medium Enterprises, Large Enterprises), By Major Sector (Upstream, Midstream, Downstream) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

[150 Pages Report] The Global "Oil & Gas Cloud Application Market" is expected to grow at a CAGR of 14.80% during the forecasting period (2022-2029).

Oil and Gas Cloud Applications Market - Strategic Insights

Metrics

Details

Market CAGR

14.80%

Segments Covered

By Deployment, By Solution, By End-User, By Major Sector, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Growth factors of the global Oil & Gas Cloud Application Market

  • This market is multiplying due to several factors like the increasing need for cost optimization and the growing adaption rate of cloud in the oil & gas industry.
  • However, increasing concerns over the security of data are restraining the growth of the market.
  • As the oil and gas industry is becoming more demanding and more complex, cloud computing technologies help in improving efficiency, lower costs and enable new opportunities leading to the growth of the market.
  • There are several benefits of cloud computing in the oil & gas industry such as improved speed & skill, transforming the economics of IT, delivering IT without boundaries, and building an endurable customer relationship.

The Scope of the Oil & Gas Cloud Application Market Report

  • The report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
  • The report profiles companies like IBM, SAP, Microsoft, HP, Cisco, TIBCO, Seven Lake Technologies, PetroCloud, WellEz, Tableau, Aspen Technology, and SAS Institute.

Oil & Gas Cloud Application Market Segmentation

  • The Global Oil & Gas Cloud Application market is segmented by important sectors into Upstream, Midstream, and Downstream.
  • Based on the Solution, the market is segmented into Data Analytics, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Capital Management (HCM), and Others.
  • By End-User, the market is segmented into Small & Medium Enterprises and Large Enterprises.
  • Further, based on Deployment, the market is segmented into Public, Hybrid, and Private.

Oil & Gas Cloud Application Market Category Insights

  • To improve the efficiency of operations in the oil & gas industry, data analytics plays a significant role, reduces costs, and predicts the industry. It also helps analyze the sector thereby helping in making better decisions.
  • Many companies started investing in adopting data analytics applications mainly after oil prices declined.
  • The upstream sector will grow during the forecast period as it is creating new platforms using big data analytics. They use these analytics to get more insights into unstructured and structured data.
  • Also, more storage capacity and unlimited computing with cost-effectiveness are pushing this sector to deploy new cloud services.

Oil & Gas Cloud Application Market Regional Insights

  • Geographically, the report segments this market into North America, Asia-Pacific, Europe, South America, and RoW.
  • North America dominates the oil & gas cloud application market due to the increasing development of innovative technologies and being the largest producer of oil, thus creating new opportunities.
  • Also, the increasing use of cloud applications due to lower cost and better efficiency for oil & gas industry operations is driving the growth of the market.

Some recent developments in the oil & gas cloud application market

  • In Aug 2017, Microsoft and Halliburton entered into a strategic alliance to drive digital transformations across the oil and gas industry sector.
  • In Sept 2017, Schlumberger announced DrillPlan, a digital well construction planning solution that would leverage the benefits of Microsoft Azure and Azure Stack hybrid cloud solutions in the oil and gas industry.

Frequently Asked Questions

What is the Oil & Gas Cloud Application Market growth?

The market is growing at a CAGR of 14.80%.

What is the Oil & Gas Cloud Application Market size in 2021?

The Market size was valued at USD YY million in 2021.

Who are the key players in Oil & Gas Cloud Application Market?

IBM, SAP, Microsoft, HP, Cisco, TIBCO, Seven Lake Technologies, PetroCloud, WellEz, Tableau, Aspen Technology, and SAS Institute.

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