DUBLIN, Sept. 16, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Oil and Gas Analytics Market by Software, by Deployment Model, by Services, and by Regions - Forecasts and Analysis (2014 - 2019)" report to their offering.
The human advancements in the fields of lifestyle, travel and transportation are responsible for the resultant need of greater oil consumption. The staggering oil productions in the previous century have intensified the global issue of exhaustion of fossil fuels. The rapid depletion of oil and gas reserves has brought the global oil and gas authorities to a crossroad. The oil companies have to transmute their current operational techniques to tackle the productivity losses from the limited oil resources. The field of oil and gas analytics provides a solution to alchemize the organizational data into the most valuable assets for the company. The market shows a tremendous future potential for global oil companies offering a visionary solution
The global economy is driven by the exchange of goods and services. Exchange of goods heavily depends on the intermodal transportation service. The immense growth in the transportation sector is an outcome of the expanding world economies. The global transportation machinery and fleet urges for a colossal demand for oil and gas.
The global oil demand is on an exponential rise due to rapid globalization and industrial growth. The developed economies in the west show very high per capita oil consumptions. The BRICS economies excluding Russia import large quantities of crude oil due to low domestic oil and gas production and huge demand in the country. The exhausting oil and gas reserves have aggravated the oil demands forcing oil companies to maintain higher production volumes from aging oil fields. This fact drives solutions and systems available in the oil and gas analytics market on global level.
The oil companies have undertaken exploration drives to discover new oil reserves in order to supply greater production volumes to meet the global demand. These production and operational expansions of the oil and gas industry have led to new explorations into the remote regions with adverse frontiers across the globe. The extraction units have to sustain the harsh conditions and environment in deserts and deep ocean waters. The maintenance costs of the oil companies are sky rocketing in order to sustain environmental challenges. Billions of dollars are spent annually over the repairs and maintenance of offshore and deep-water oil rigs. The aging production infrastructure often results in oil explosions and oil spills which is responsible for hazardous ecological consequences like loss of marine wealth and acid rains.
The global production of oil and gas swings across every day and it is under heavy political scrutiny and influence. The oil and gas market is an oligopoly where a few strong players control the entire market space. The rising oil demand and the fluctuating supply have made the crude oil prices very volatile. The heavy rise and falls in the oil market have kept away hefty investments for the technological advancements of the oil fields. The oil industry thus operates inefficiently with low oil production by conventional techniques resulting in heavy operational losses. 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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Oil And Gas Analytics: Market, By Software Used In Upstream Operations
8 By Software Used In Midstream Operations
9 By Software Used In Downstream Operations
10 By Deployment Platform
11 By Services
12 Geographical Analysis
13 Competitive Landscape
14 Company Profiles
- Hewlett Packard
- SAP AG
- SAS Institute
- Tableau Software
- Tibco Software
For more information visit http://www.researchandmarkets.com/research/ngxtbr/oil_and_gas
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SOURCE Research and Markets