Middle East Oil And Gas Analytics Market value will witness a significant growth on account of soaring investments in E&P activities. Moreover, increasing requirement for an efficient real time data analytics system at economical cost for reducing uptime and providing smooth operations will drive the service deployment over the forecast timeframe.
Stringent government health, safety & environment (HSE) regulations and policies to ensure safer operations will favor the service adoption substantially. Growing emphasis on digitalization of oil and gas industries to promote effective workforce productivity with reduced operational costs will augment the demand for oil and gas analytics across the region.
On premise oil and gas analytics market will grow on account of lower cost of ownership, effective uptime and complete system and configurational control. Moreover, customizable security protocols as per the consumer’s preference along with high data security are some of the other major beneficial features escalating the service demand across the region.
Easy accessibility, affordability, lower maintenance and high data security are some of the prominent features enhancing the demand for hosted deployment. Moreover, lower energy costs, product scalability and quick deployment are several other features favoring the market.
The demand for the cloud services demand is anticipated to grow significantly owing to its faster and accurate results in comparison with other alternatives. Moreover, these services do not require excess infrastructure for server installment. Therefore, reduced infrastructural cost is an essential feature that will support the industry growth in the forecast years.
Increasing deep and ultra-deep offshore activities along with growing unconventional drilling techniques will propel the Middle East oil and gas analytics industry across upstream sector. Easy remote location monitoring along with effective management of seismic data and improved reservoir management are few of the crucial factors which will further augment the service penetration in upstream sector.
Saudi Arabia oil and gas analytics market will witness a strong growth owing to presence of large and extensive reserves. According to Energy Information Administration (EIA), the country produced 12.42 million barrels per day in 2018, which was for 12% of total world production. Moreover, growing emphasis on developing unconventional liquid rich gas reserves along with shale reserves to boost nation’s petrochemical industry and overall profitability will drive industry outlook substantially.
Major players involved in the industry include Hewlett Packard Enterprise Development LP, Accenture, Capgemini, Cisco Systems, Inc., SAS Institute Inc., Cognizant, Hitachi, Ltd., Deloitte, IBM, Microsoft, Teradata, Oracle, TIBCO Software Inc., SAP SE