In recent years, some of the largest hydrocarbon discoveries have been announced in deepwater offshore areas. The offshore projects are capital intensive and complex in nature. Capital expenditure and operating costs can escalate substantially if the projects are not managed efficiently. An information management system is an essential part of offshore installations which is a combination of a host of software tools and related services. These management systems analyze and report project related information in an efficient manner to improve project performance. Offshore installations are usually located in complex environments where various specialized teams work together in various project phases. Information management systems are installed to analyze and store the information collected from various project phases in an offshore project. These systems are installed to share and store both technical and commercial information. Information management systems are a computerized monitoring tool which is primarily designed to satisfy project requirements and specifications. The market for information management in offshore projects is anticipated to grow at a substantial rate owing to requirement of efficient systems in offshore installations.
The increasing investment in offshore hydrocarbon projects and requirement of cost effective systems in offshore facilities are the major drivers attracting investment in information management market. To support the increasing investment on offshore installations, the project developers should have access to information management services. Information management systems assist the offshore project developers to anticipate and avert project related risks. The information management systems can track the energy consumption and mechanical commissioning in an offshore project. As a result of this the capital costs and operational costs related to the project can be organized in an effective manner. The productivity of the end user industry also increases after installing these technological systems. However, lack of the additional capital costs incurred in this capital intensive technology is a major factor impacting the growth of the information management systems in the offshore market. The lack of skilled professionals is also another major factor which affects further growth of the market.
The market for information management for offshore projects can be segmented on the basis of services offered in this market. The information management service providers offer various services to the offshore industry. The market can be broadly segmented into four categories as project information system, contract management system, HSE and completion management system. The market can be further sub-divided into various other services such as quality management and project dashboards offerings.
With increasing drilling activities in deepwater areas, the market for information management in offshore projects continues to grow at an increasing pace. The increasing offshore production activities in the Latin American region will provide the major market for this market in the coming future. Planned expansion projects and the large offshore reserves of West Africa is one of the prospective regions for the growth of the information management systems in offshore projects. The exploration companies in Asia Pacific are also increasing investment in offshore locations of China and Australia which are anticipated be major economies for this market in coming years. The stringent working parameters in offshore areas of North Sea have attracted several information management providing companies in this region.
Some of the major players which provide information management for offshore projects are Omega AS, Aveva Solutions Ltd and Audubon Companies.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.