According to the Graphical Research new growth forecast report titled “Middle East Oil And Gas Analytics Market Share By Deployment (On Premise, Hosted), By Service (Professional, Cloud, Integration), By Application (Upstream [Exploration and Drilling, Field Surveillance and Monitoring, Production Planning and Forecasting, Equipment Maintenance Management, Asset Performance, Workforce Management], Midstream [Pipeline SCADA, Fleet, Storage Optimization], Downstream [Commodity Trading, Demand Forecasting, Pricing, Refining]), Industry Analysis Report, Regional Outlook (Saudi Arabia, Qatar, Nigeria, Angola), Price Trends, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” to Discern Stable Expansion by 2026.
Middle East Oil And Gas Analytics Market Share is projected to grow on account of accelerating investments in the E&P projects along with ongoing volatility in oil & gas prices. Growing demand for business intelligence, production forecasting coupled with development of models for strategies and algorithms will positively influence the business outlook. In addition, expansion of refineries along with increasing exploration projects will stimulate the industry growth.
Ongoing fluctuations in the supply and demand scenario coupled with growing digitalization of oil and gas fields to promote workforce productivity and reduce operational costs will drive the market size. Furthermore growing customer inclination toward demand forecasting and entering into favorable trading contracts will fuel the service penetration.
Full ownership of analytics performed and facility to fit the results to each end-user will help the on-premise oil and gas analytics industry growth. Moreover, autonomous configurational control and effective uptime along with customizable security protocols with high data security will drive the business outlook.
Efficient utilization of resources, high profit margins and reliable forecasts are some of the vital features which will stimulate the professional service market size. Surging need for smart decision making along with provision of deeper insights of oil and gas business will escalate the service demand across the region.
Middle East Oil And Gas Analytics Market growth will witness an upsurge on account of easy monitoring of fine-tuned operations in the midstream sector. Easy model-based predictions and ability to collect data from multiple sources are some of the vital factors which will positively influence the business landscape in the midstream industry.
Facilitation of service innovation, customer behavior data and direct sales data will propel the analytics industry across downstream sector. Provision of maximized productivity along with effective anticipation of variations in demand and driving profitability will complement the service penetration.
Expansion of exploration and production sector coupled with upsurge in number of refineries will favor the Angola oil and gas analytics industry outlook. Furthermore, varying investments in multiple exploration and production fields in line with fluctuating oil prices will further augment the service penetration in the Angola market.
Prominent players functioning in the market includes Accenture, Hewlett Packard Enterprise Development LP, Capgemini, SAS Institute Inc., Cisco Systems, Inc., Cognizant, Deloitte, Hitachi, Microsoft, IBM, SAP, Teradata, TIBCO Software and Oracle.