Skip to main content

Oil and Gas Data Monetization Market Expected to Reach US$ 81,600.0 Mn by 2026

the global oil and gas data monetization market is expected to reach a value of US$ 81,600.0 Mn by 2026 on account of large volume of data generated across the oil and gas industry and the selling/trading or the software/platform usage to derive value from such large volumes of structured, unstructured, and semi-structured data. The market is projected to expand at a CAGR of 18.5% during the forecast period from 2018 to 2026 driven by the increasing trading of data products such as seismic data, geophysical data, magnetic surveys, well data, production data, interpretive studies, etc. and the increasing adoption of data management and data analytics solutions in the oil and gas industry. After the fall in CAPEX during the years 2015 to 2017, spending in the oil and gas industry is anticipated to increase gradually from 2018, thus further driving the digitization across the industry using software/platforms and related services. North America is anticipated to be the dominant region in the oil and gas data monetization market followed by Middle East & Africa during the forecast period.The exploration segment in the E&P lifecycle is expected to see flourishing growth to maintain the production and to meet the demand in the next decade with sufficient oil and gas discoveries now. Further, the use of analytics solutions and data management solutions mainly for seismic data, drilling data, and production data processing drives the data monetization market in the oil and gas industry.
Predictive and prescriptive analytics are the approaches that help oil and gas companies to minimize expenses and earn money by turning this data into valuable assets. Real-time data analysis is essential for deriving insights from unstructured data generated from sensors present in the oilfield. The creation and consumption of data continues to grow and with it the investment in software, services, and data science. The availability of large amount of generated data led to technological innovation in analytics solutions. Such highly analysed and streamlined data is now being traded from oil and gas service companies and national data repositories in collaboration with oil companies. The oil and gas data monetization market is expected to flourish over the forecast period driven mainly by indirect data monetization i.e. software/platforms and professional services used to increase operational efficiencies deriving value from data for oil and gas companies. However, direct data monetization i.e. the data exchange/transaction for direct monetary benefits is expected to grow at the highest rate over the forecast period.



The oil and gas data monetization market is segmented based on method, component, oil companies, application, E&P lifecycle, and geography. By 2026, the upstream application segment will account for more than 53% of the global indirect oil and gas data monetization market and more than 56% of the global direct oil and gas data monetization market due to increasing IT spending in the upstream sector of the oil and gas industry. National oil companies segment is anticipated to have more than 44% market share in indirect data monetization and more than 33% market share in the direct data monetization market by 2026 due to increasing spending by national oil and gas companies and maximum share of production by national oil and gas companies globally.
North America is leading the oil and gas data monetization market with 36% share globally. This is due to increasing oil production in the region and shale gas activities which fuels the need for indirect data monetization to gain operational efficiency. The U.S is the leading country for oil and gas production, accounting for 15% of total global oil production, fuelling an opportunity for adoption of oil and gas data monetization in the region.In terms of new opportunities, Asia Pacific and Middle East &Africa are expected to witness healthy growth during the forecast period. Increasing adoption of advance technological solutions in the oil and gas industry across GCC countries, and the U.S is expected to offer prominent opportunities to the oil and gas data monetization market.
The research study includes profiles of leading companies operating in the global oil and gas data monetization market. Halliburton, Schlumberger Limited, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, IBM Corporation, EMC Corporation, Microsoft Corporation, Tata Consultancy Services Ltd., Datawatch, Drillinginfo, Hitachi Vantara Corporation, Hortonworks, Inc., Capgemini SE, Newgen Software, Inc., Cloudera, Inc., Cisco Software, Inc., SAS Institute, Inc., MapR Technologies, Inc., Palantir Solutions, OSIsoft LLC, Infosys Limited, and NETSCOUT are some of the key players that have been profiled in this study. Details such as financials, business strategies, key competitors, recent developments, SWOT analysis, and other such strategic information pertaining to these players have been provided as part of company profiling.

Comments

Post a Comment

Popular posts from this blog

Global NFC Chips Market: Popular Trends & Technological advancements to Watch Out for Near Future

A new research study by Transparency Market Research states that the global Near Field Communication (NFC) Chips Market is extremely concentrated in nature. With a share of 55%, NXP Semiconductor emerged as the clear leader of this market in 2015 and is expected to retain its position over the next few years. Other prominent players in this market are Broadcom Corp., STMicroelectronics, Qualcomm Inc., Texas Instrument, and AMS AG. These enterprises are being actively involved in mergers, acquisitions, and partnerships, which is likely to increase the competition within the market in the near future, states the research report. As per TMR’s estimations, the opportunity the global market for NFC chips is projected to expand at a CAGR of 26.0% over the period from 2016 to 2024, proliferating from a value of US$1.35 bn in 2015 to US$10.62 bn by the end of the forecast period. The smartphone segment has emerged as the market leader and is expected to retain this position througho...
Post a Comment
Read more

RFID Tags Market is Expected to Grow at the Highest CAGR During the Forecast Period

Key players in the  U.S. RFID tags market  are Atmel Corporation, HID USA Corporation, Invengo Information Technology Ltd. Co., and NXP Semiconductors N.V. Competition among them and among other players are expected to heat up further over the course of next few years as they try to expand their market shares both via the inorganic route of mergers and acquisitions and organic route of product development and diversification. A report on the market published by Transparency Market Research finds that it would rise at an 8.5% CAGR over the course of the forecast period starting from 2017 and ending in 2025. At this pace, the market which was valued at US$809.4 mn in 2016, will likely become worth US$1,672.5 mn by 2025-end. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=24536 The two types of RFID tags available in the market are active and passive tags. Between the two, the demand for passive RFI...
Post a Comment
Read more

Data Center Fabric Market: Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights

Fabric-based architecture supports the data center by eradicating the necessity of switch-to-switch interactions, multiple layers of devices and also the shared network protocols. It condenses the complication of a data center network and improves its efficiency. In a data center, fabric embodies interconnection of several servers, storage, and other ports for networking in an ultra-low latency set-up, which provides any-to-any connectivity, making each device only single hop away from every other device. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2227 Data center fabric market is driven by emerging technologies such as data center virtualization, cloud computing and big data analytics. Vendors in this market face challenges such as security issues and scalability in transparent bridging. One of the major opportunities in the market are for providing advanced data center fabric solutions that are more s...
Post a Comment
Read more