Big Data in Oil and Gas Market - Snapshot
Data generated in the oil and gas industry is increasing in volume, variety, and velocity. Oil and gas industry needs new technologies to integrate and interpret such large amounts of structured and unstructured data generated daily from different data sources such as seismic data, geological data, well logging data, etc. Information technology providers are continuously looking for solutions that could provide new opportunities to capture the Big Data market and are researching tools competent to process Big Data in the oil and gas industry.
Oil demand is expected to rise over the years. More investment is needed to increase oil production capacity to avoid the risk of sharp increase in oil prices. Need for enhanced oil exploration and production technologies, andpotential for new insights from data generated in the oil and gas industry are the key factors driving the Big Data in Oil and Gas market. Companies in the oil and gas industry are improving operational performance by adopting Big Data solutions to monitor daily workflows, thus fuelling the market growth. However, declining oil prices and the falling CAPEX especially in resource development, supply chain, and IT spending in the oil and gas industry is hindering the growth of the Big Data in Oil and Gas market. Increasing foreign investments in refineries and petrochemicals across developing countries and large proven oil reserves in Venezuela, China, Ecuador, and Brazil brings an opportunity to drive growth of the Big Data in Oil and Gas market.
The Big Data in Oil and Gas market is segmented based on component, data type, application, and region. By component, the market is segmented as software and services. Big Data software is further segmented into data analytics, data collection, data discovery and visualization, and data management. Big Data services in the oil and gas market are classified into consulting, system integration, and operation and maintenance.The market is also segmented based on data type as unstructured, structured, and semi-structured.Unstructured data is anticipated to dominate the global Big Data in Oil and Gas market due to increasing generation of unstructured data from different data sources such as sensor data, well data, oceanographic data, geological data, environmental data, and other data sources. Further, by application, the market is segmented into upstream (conventional, unconventional), midstream, downstream, and administration. It is anticipated that upstream application segment will continue to dominate the market over the forecast period.
Regional segmentation ofthe Big Data in Oil and Gas market includes North America, Europe, Asia Pacific, South America, and Middle East & Africa (MEA). North America is projected to dominate the Big Data in Oil and Gas market due to increasing production of oil in the region. Asia Pacificis likely to observe strong growth opportunities during the forecast period dueto rising investments in the E&P sector.
Key players of the Big Data in Oil and Gas market are Accenture, Datawatch, Drillinginfo, Inc., HitachiVantara Corporation, HortonWorks, Inc., IBM Corporation, MapR Technologies, Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc., Cloudera, Inc., Palantir Solutions, Capgemini SE, and OSIsoftLLC among others.
Big Data in Oil and Gas Market: Overview
The Big Data in Oil and Gas market report provides analysis of the Big Data in Oil and Gas market for the period 2016 –2026, wherein the years from 2018 to 2026 is the forecast period and 2017 is considered as the base year. The report covers all the major trends and technologies playing a major role in the growth of the Big Data in Oil and Gas market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The market overview section of the report demonstrates market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market, key trends, regulations and policies, IT spending analysis, ecosystem analysis, Porter’s Five Force Analysis, and PESTEL analysis of the market. A market attractiveness analysis has been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario in the Big Data in Oil and Gas market. The report also provides an overview of various strategies adopted by key players in the market.
Global Big Data in Oil and Gas Market: Scope of the Report
The report segments the market on the basis of component which are software and services. Software in the Big Data Oil and Gas market is further classified into data analytics, data collection, data discovery and visualization, and data management. Services are classified into consulting, system integration, and operation and maintenance. Further, the market is also segmented based on data type as structured, unstructured, and semi-structured. By application, the Big Data in Oil and Gas market is segmented into upstream (conventional, unconventional), midstream, downstream, and administration. The report provides in-depth segment analysis of the global Big Data in Oil and Gas market, thereby providing valuable insights at the macro as well as micro levels.
The report also provides the competitive landscape for the Big Data in Oil and Gas market, thereby listing out all the major players according to their geographic presence, market attractiveness, and recent key developments. The competitive landscape section of the report gives an overview about the market share of several key players for the year 2017. Big Data in Oil and Gas market data estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the market growth. Moreover, the key takeaways section provided at the end of the competitive landscape section would help the operating companies to make the best moves in this market.
This report provides all the essential information required to understand the key developments in the Big Data Oil and Gas market, and growth trends of each segment and region. It also includes basic overview, sales area/geographical presence, revenue, strategy and developments under the company profile section. Also, the report provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces, namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the market. This report also provides a comprehensive ecosystem analysis of the Big Data in Oil and Gas market.
Global Big Data in Oil and Gas Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources such as annual reports, company websites, broker reports, financial reports, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database and industry white papers are referred.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the Big Data in Oil and Gas market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer first-hand information on important factors such as market trends, market size, competitive landscape, growth trends and outlook etc. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.
Global Big Data in Oil and Gas Market: Competitive Dynamics
Accenture, Datawatch, Drillinginfo, Inc., Hitachi Vantara Corporation, HortonWorks, Inc., IBM Corporation, MapR Technologies, Inc., Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc., Cloudera, Inc., Palantir Solutions, Capgemini SE, and OSIsoft LLC are some of the key players that have been profiled in this study. Details such as financials, business strategies, key competitors, recent developments, and other such strategic information pertaining to these players have been provided as part of company profiling.
The global Big Data in Oil and Gas market is segmented as below:
Global Big Data in Oil and Gas Market, by Component
- Data Analytics
- Data Collection
- Data Discovery and Visualization
- Data Management
- System Integration
- Operation and Maintenance
Global Big Data in Oil and Gas Market, by Data Type
Global Big Data in Oil and Gas Market, by Application
Global Big Data in Oil and Gas Market, by Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America