North American Oil and Gas Analytics Market size is projected to grow at a significant CAGR from 2021 to 2027, according to a latest forecast report by Graphical Research.
North America Industry growth is owing to increasing investments in E&P businesses. Oil and gas data analytics include observation of field data to foster efficient well performance and prediction. In addition, growing demand for an efficient real-time data analysis system at economical cost to provide easy operations will drive the deployment of the service over the forecast period.
Increasing emphasis on digitizing oil and gas sector to stimulate efficient labor productivity along with lower operating costs will rise the demand for O&G analytics in the region. Moreover, strict government HSE regulations and policies to ensure safer operations will propel adoption of the technique. Furthermore, customizable security protocols along with high data security are major beneficial features increasing the demand for analytics in the region.
The market will grow on account of lower cost of ownership, efficient uptime and complete system and configuration control. Moreover, easy accessibility, affordability, low maintenance and high data security are some of key features driving the demand for hosted deployment. In addition, lower energy costs, product scalability and rapid deployment are several other characteristics that will complement service outlook.
Browse detailed statistical insights from the report, “North America Oil & Gas Analytics Market Forecast 2027 By Service (Professional, Cloud, Integration), By Deployment (On Premise, Hosted), By Application (Upstream, Midstream, Downstream), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Cloud services requirement is expected to rise on account of its faster and more accurate results compared to other techniques. In addition, these services do not require excess infrastructure for server installation resulting in reduction of infrastructure costs that will support the market growth. For instance, major oil and gas companies are incorporating cloud services integrated with big data and business intelligence analytics technique for efficient process optimization.
The boost in deep sea operations coupled with growth of unconventional drilling techniques will propel oil and gas analysis in the region’s upstream sector. Easy remote monitoring along with efficient seismic data management and improved reservoir management are some of key factors that will further thrust data analytics services in the region.
The U.S. oil and gas analytics industry will witness strong growth owing to large and extensive crude oil and shale gas reserves. For instance, according to EIA, proved reserves of crude oil increased to 367 million barrels in 2019. Furthermore, exploration for new shale reserves along with growing influence on data analytics to optimize production and drilling operations will augment growth of the company.
The market is recovering from collapse in demand of crude oil caused by the Covid-19 pandemic in 2020. In addition, major companies are focused toward adopting digital solutions toward data management and analysis along with cost optimization and future production forecast. Moreover, incorporation of cloud analytics by major companies in their workflows will augment efficiency and productivity.
The North American 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 2016 to 2027 for the following segments:
North America Market, By Deployment
North America Market, By Services
North America 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: