Oil and Gas Cloud Applications Market Trends, Segments, Efficiency and Competitive Landscape
- ehteshampeerzade
- Mar 16, 2021
- 2 min read
Market Highlights
According to Market Research Future, the Global Oil and Gas Cloud Applications Market has been segmented based on Component, Deployment Type, Organization Size, Operation, and Region/Country. Cloud applications offer various benefits to the oil and gas companies in upstream, midstream, and downstream operations. The oil and gas industry is a process-intensive industry, where the companies monitor large volumes of data, which cost a high amount. Cloud applications help in monitoring and analyzing the data and providing efficient process handling to the oil and gas companies.
The data experts at Market Research Future Reports (MRFR) have analyzed the global oil and gas cloud applications market. The experts have anticipated that the market is estimated to record a CAGR of 14.6% during the assessment period. The massive investments made in digital oilfields is likely to bring immense opportunities for the global oil and gas cloud applications market 2020. The oil and gas industry is witnessing an exponential adoption of several advanced technologies which is further propelling the market. The introduction of digital technology is another pivotal factor leading to market growth. The digital technology is used for the purpose of production, exploration, collecting the data and protracting the insights. The most substantial factor influencing the growth of oil and gas cloud applications is the fast adoption of cloud across the oil and gas industry. The adoption of cloud applications in oil and gas industry helps in lessening the costs of operations and data encryption. The adoption of cloud is increasing due to the reduced capital expenditure and expenses of operation of the companies. However, security threats and privacy concerns are anticipated to impede market growth during the assessment period.
Segmentation:
The oil and gas cloud application market can be classified into deployment type, component, organization size, type, operation, and geography.
On the basis of deployment type, the global oil and gas industry market can be classified into the private cloud and public cloud.
On the basis of component, the global oil and gas industry market can be classified into solution and service.
On the basis of organization size, the global oil and gas industry market can be classified into small- and medium-sized enterprises (SMEs) and large enterprise segments.
On the basis of operation, the global oil and gas industry market can be classified into upstream, midstream, and downstream.
On the basis of geography, the global oil and gas industry market can be classified into North America, Asia-Pacific, Europe, the Middle East & Africa, and South America.
Regional Analysis
By region, the Global Oil and Gas Cloud Applications Market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The Middle East and Africa are expected to be the fastest-growing region due to the growing adoption of the latest digital technologies in the oil and gas industry.
Key Players
The established players of the global oil and gas cloud applications market are Oracle Corporation (US), BM Corporation (US), Microsoft Corporation(US), Salesforce (US), SAP SE(Germany), Aspentech (US), Dassault Systèmes (France), Bentley Systems (US), HPE(US), ABB (Switzerland), Sage Software Solutions (India), Infor (US), Risk Edge Solutions(India), Workday (US), Quorum Software (US), and a few others.
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