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Oil & Gas Data Management Market Is Driven By Rising Demand By The Companies To Improve Performance

According to a new market research report published by Credence Research “Global Oil & Gas Data Management Market by Component (Solution (Corporate/Enterprise Data Management System, Project Data Management System, National Data Repository), Software, Services (Consulting & Planning, Integration & Implementation, Operation & Maintenance)); Type (IT Infrastructure, Data Operations, Others); – Growth, Future Prospects, and Competitive Analysis,2019 - 2027”, the overall oil & gas data management market has been expected to register a market value of US$ 6.56  Bn in 2027 and is set to grow with a CAGR of 15.0 % during the forecast period.

Market Insights

The data management allows the companies operating in oil & gas industries to extract useful insights from the raw data collected from the refineries, production, sales and other departments to improve their performance and production efficiency. The advancement in technology has led the companies to adopt various technologies such as IoT and AI has been enhancing the data management software by providing useful insights. On the other hand, the rising adoption of the cloud platform is also allowing the companies to share their data in real-time which results in improving the efficiency of the overall process.

Based on the component, the oil & gas data management market has been segmented as solutions, software, and services. the solution segment has been further segmented as corporate/enterprise data management system, project data management system, and national data repository. Similarly, the services segment has been segmented as consulting & planning, integration & implementation, and operation & maintenance. The solution segment held the largest market share in the component segment in 2018 with a share of more than 40% and is expected to dominate during the forecast period as these solutions are used by the companies to enhance their productivity and efficiency by providing the important data in real-time.

The rest of the world region (comprising Middle East & Africa and Latin America) is expected to emerge as the fastest-growing market for the oil & gas data management market during the forecast period. This primarily due to increasing adoption of new technologies by various oil & gas industries for better leveraging the oil & gas data.Moreover, various companies are investing heavily in the region due to the increasing requirement of oil & gas across the globe. Thus, the rising demand for oil & gas is resulting in heavy production which is propelling the growth of the oil & gas data management market.

The rest of the world region has been bifurcated as the Middle East & Africa and Latin America. The Middle East and Africa have been dominating the market due to early adoption of the data management solutions and services in the region and also the presence of various oil & gas refineries in the region. Moreover, the continuous adoption of new technologies is also contributing to the growth of the market.

Some of the prominent players operating in the market are Cisco Systems, Inc., Newgen Software, Inc., SAP SE, EMC Corporation, Capgemini S.A., IBM Corporation, Oracle Corporation, Hitachi, Ltd., Tata Consultancy Services Ltd., Halliburton, Informatica Corporation, SAS Institute, Hewlett-Packard,  and Schlumberger Limited.

Browse the full report at https://www.credenceresearch.com/report/oil-and-gas-data-management-market

The Global Oil & Gas Data Management Market is Segmented into:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion

 By Component Segment (2017–2027; US$ Bn)

 By Type Segment (2017–2027; US$ Bn)

 By Geography Segment (2017–2027; US$ Bn)

*Complete segmentation list is on report page

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