Global Oil and Gas Data Monetization Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of 16.4 % during a forecast period.
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Currently, large petrochemical key players are active in consuming big data technologies, tools, and data sets for handling huge amounts of data generated by their core activities. As pressure on oil prices remains constant, the demand for digitized upstream, midstream and downstream applications is expected to grow during the near future. Data monetization technology is empowering massive volumes of data to be analyzed at a fraction of the cost. An increase in the adoption of the Internet of Things in the oil & gas industry is opening up massive new opportunities to understand operations, assets, and supply routes, risks to the oil & gas companies. Despite the transformation of the oil & gas industry in digital, many oil and gas key players are managing their operations with reactive and manual approaches. Lack of awareness regarding the requirement of the interventions at the wellhead, refinery throughput is limiting the market growth.
Global Oil and Gas Data Monetization Market
Oil and gas companies are widely adopting the data monetization system, which can empower big data technologies to collect, manage, and increase new insights. It also helps to increase core activities performed in the industry. The rise in the adoption of Internet of things in the oil and gas industry across GCC countries is expected to offer opportunities to the oil and gas data monetization market. Additionally, data monetization technologies can help petroleum key players to optimize their business operations, and enhance their competitive edge. In the pipeline operations, with the result of open standards and centralized data management, the Internet of Things are expected to permit seamless integration and operation across the number of pipeline operation systems like simulation, measurement and asset management and forecasting and planning. The adoption of the IoT in the oil and gas industry is helping to increase system availability through accurate, timely data, and enhanced response to abnormal operations.
Region-wise, market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. North America holds 34% of global market share and expected to keep its dominance over forecast period. An increase in the oil production and shale gas activities, which is expected to increase the demand for indirect data monetization to achieve superior operational efficiency are boosting the growth in the oil and gas data monetization market in this region. On the other hand, Middle East &Africa region is projected to contribute 26% share in the global oil and gas data monetization market. Large proven oil reserves in, Saudi Arabia, Iran, Iraq, Kuwait, and UAE, brings an opportunity to drive growth of the oil and gas data monetization market in this region. There is significant growth opportunity for adoption of indirect data monetization i.e. the software and services for driving insights for development of these reservoirs and direct data monetization i.e. mainly the exploration data products. Seismic surveys and geophysical surveys conducted in these regions to find new exploration sites and their potential, and the use of software solutions will continue to drive the market over forecast period.
Key players in the market are focusing on strategic investments in the area of analytics across the oil and gas operations. They are concentrating to invest in assets, partnerships, people, and infrastructure. Some of the prominent key players like IBM, Horton works, Oracle and Microsoft are proposing big-data-based architectures to proficiently accept and collect data from any source and form them accessible for big data analytics tools.
The objective of the report is to present a comprehensive analysis of Global Oil and Gas Data Monetization Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Oil and Gas Data Monetization Market dynamics, structure by analysing the market segments and project the Global Oil and Gas Data Monetization Market size. Clear representation of competitive analysis of key players by Thyroid Gland Disorders Treatment Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Oil and Gas Data Monetization Market make the report investor’s guide.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
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Global Oil and Gas Data Monetization Market, By Method
• Indirect Data Monetization
• Direct Data Monetization
Global Oil and Gas Data Monetization Market, By Component
• Data as a Service
• Professional Services
• Platform/Software
Global Oil and Gas Data Monetization Market, By Application
• Upstream
o Conventional
o Unconventional
• Midstream
• Downstream
Global Oil and Gas Data Monetization Market, By End-User
• National Oil Companies (NOCs)
• Independent Oil Companies (IOCs)
• National Data Repositories (NDRs)
• Oil and Gas Service Companies
Global Oil and Gas Data Monetization Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Oil and Gas Data Monetization Market
• SAP SE
• Oracle Corporation
• Accentureplc
• IBM Corporation
• EMC Corporation
• Halliburton
• Schlumberger
• Informatica Corporation
• Newgen Software
• Cloudera
• Cisco Software
• MapR Technologies
• Palantir Solutions
• OSIsoft LLC
• Microsoft Corporation
• Tata Consultancy Services
• Datawatch
• Drillinginfo
• Hitachi Vantara Corporation
• Hortonworks
• Capgemini
• TGS
• Ion Geophysical Corporation
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