APAC Oil and Gas Analytics Market size is poised to grow substantially from 2022 to 2028, according to a latest forecast report by Graphical Research.
The market growth is owing to rapid refinery expansion to meet the rising petroleum demand. These services will assist the refining industry in reducing downtime and maintenance costs. Growing exploration and production to meet the rising energy demand will significantly increase the market growth. Growing expenditure of the petroleum industry on digital technologies has enhanced labor efficiency and decreased costs, which will further boost the market size.
The need for more oil pipelines to transfer incremental oil supplies to refineries coupled with increasing investments in gas transportation capacity expansion will drive the industry scenario. Furthermore, the vigorous expansion of oil tank farms along with the concentration of LNG exports facilities across the region will enhance the Asia Pacific oil and gas analytics market outlook. Increasing deployments of data collection tools & devices coupled with growing awareness of data value will foster the industry growth.
Midstream is projected to grow significantly considering the impressive development in demand for real-time & accurate information and rising pipeline transportation will propel the APAC oil and gas analytics market size. A growing requirement for risk assessment and production optimization in the current unpredictable oil price environment will fuel the industry landscape. Organizations are concentrating on lowering their various operational and maintenance costs, which will propel the industry scenario.
Cloud analytics offers various benefits including instant data recovery, unlimited storage, and flexibility. It is a cloud-based service model in which one or more analytical components are integrated. The software allows businesses to increase their data storage and analytical capabilities as their organization grows while also reducing the administrative burden of operating on-premises platforms. These systems generate significant returns in a short period with the ability to supply and easily available data models, application servers, amongst others which will positively accelerate the industry dynamics.
Browse detailed statistical insights from the report, “Asia Pacific Oil & Gas Analytics Market Forecast 2028 By Deployment (On-premise, Hosted), By Service (Professional, Cloud, Integration), By Application (Upstream, Midstream, Downstream), Research Report, Country Outlook (China, India, Philippines, Japan, South Korea, Australia, Indonesia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Oil & gas companies are transforming their entire value chain by merging modern data-gathering devices along with the rapid adoption of IoT and IIoT, which will significantly boost the industry outlook. Furthermore, market speculators and traders need real-time information to maximize the returns and profits in a volatile price environment, which will accelerate the use of advanced analytical tools.
The China oil and gas analytics market is estimated to grow at a higher CAGR till 2028, on account of advancements in technology have allowed operators to generate real-time data from reservoirs and production platforms to predict the likelihood of reducing downtime and equipment failures. The flexible cloud computing capabilities to provide infinite storage and cost savings in line with the demand for data analysis will accelerate the industry landscape.
The Asia Pacific oil and gas analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028 for the following segments:
Asia Pacific Market, By Deployment
Asia Pacific Market, By Services
Asia Pacific Market, By Application
- Exploration and Drilling Analytics
- Field Surveillance and Monitoring Analytics
- Production Planning and Forecasting Analytics
- Equipment Maintenance Management Analytics
- Asset Performance Analytics
- Workforce Management Analytics
- Pipeline SCADA Analytics
- Fleet Analytics
- Storage Optimization Analytics
- Commodity Trading Analytics
- Demand Forecasting Analytics
- Pricing Analytics
- Refining Analytics
The above information has been provided for the following countries:
- Asia Pacific
- South Korea