Exploration & Production (E&P) Software Market By Operation ( Onshore, Offshore ), By Deployment (On-Premise E&P Software, Hosted E&P Software ), By Application (Reservoir Engineering, Drilling & Production) – Growth, Future Prospects And Competitive Analysis 2015 - 2025

Exploration is the process of determining new oil and gas reservoirs trapped under the earth's surface, whereas production is the procedure of obtaining those hidden resources for further processing, refining, marketing, and use. This makes overall exploration and production (E&P) a highly crucial and capital-intensive process in the oil and gas sector.

E&P software is defined as a set of software solutions developed specifically for the upstream segment of the oil and gas industry. These are designed to cater to a wide range of applications in the upstream sector, including seismic processing and imaging, mapping, data analysis, reservoir, and geological modeling, and production planning. Using E&P software enables oil and gas companies to better analyze the geological data for more accurate modeling and production planning.

The most significant factor propelling market growth is the steadily rising expenditure over E&P processes. Rapidly exhausting oil and gas reserves have led to a significant rise in E&P spending. Oil and gas companies are now more inclined toward effort-free operations, thereby boosting the demand for simulation software. Using E&P software helps these companies manage their E&P budget more efficiently.

Despite the slump in the oil and gas sector in 2009, the E&P sector has been witnessing steady growth for the past 4–5 years. Subsequently, E&P software has been witnessing consistent growth for the past few years. Because E&P accounts for a small portion of total E&P expenditure, fluctuations in the oil and gas industry have a lower impact on market growth.

 The report titled "Global Exploration & Production (E&P) Software Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" offers strategic insights into the global E&P software market along with the market size and estimates for the duration of 2015–2025.

The said research study covers an in-depth analysis of market segments based on deployment model, operation type, application, and a cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

The report also includes competitive profiling of the leading E&P software vendors, their business strategy analysis, market positioning, and key developments to assist strategic decision-makers.

The report profiles several major players, including Schlumberger Ltd., Paradigm B.V., Landmark Solutions, ION Geophysical Corporation, Exprodat Consulting Ltd., Baker Hughes, Inc., Weatherford International Plc., IHS, Inc., G.E. Oil & Gas, Computer Modelling Group Ltd., Emerson Electric Co., Kongsberg Gruppen ASA, Pason Systems Corp., Petroleum Experts Ltd., ETL Solutions Ltd., Ikon Science Limited, Peloton,

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the E&P software industry
  • Market fuelers, market impediments, and their impact on market growth
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2015–2016)
  • SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global E&P software market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

Based on the deployment model, the global exploration and production (E&P) software market is segmented into the following categories:

  • On-premise E&P software
  • Hosted E&P Software

As of 2016, the global E&P software market was led by the on-premise deployment model segment, which contributed more than sixty percent of the total market revenue. The on-premises deployment model consists of a complete solution, including hardware and software required for E&P software setup.

This makes the on-premise mode of deployment costlier as compared to the other modes of deployment. Many midsized E&P software vendors still do not have a unified cloud infrastructure.

As a result, the majority of major market offerings are based on the on-premise deployment model. However, due to its immense advantages over on-premise deployment, the hosted E&P software segment would exhibit the highest growth during the forecast period.

E&P companies are now increasingly looking towards reducing their I.T. costs. This has forced the E&P software vendors to arrange for the required cloud infrastructure.

Based on geography, the global exploration and production (E&P) software market is segmented as per the following regions and countries:

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • South Asia
  • Rest of Asia Pacific
  • Middle East and Africa (MEA)
  • GCC countries
  • South Africa
  • the remainder of MEA
  • Latin America
  • Brazil
  • Mexico
  • rest of Latin America

The global E&P software market is dominated, in terms of revenue and adoption, by the North American region. The region is mainly backed by the U.S., which has seen strong adoption of information technology across the oil and gas sector.

The nation enjoys the presence of a larger number of software companies operating in the overall oilfield services sector. This has significantly facilitated the E&P software growth here. Despite the slowdown in the oil and gas sector here, the expenditure on E&P processes has had a relatively smaller impact.

Subsequently, the market has been witnessing consistent growth in the region for the past 4–5 years. Europe follows North America in terms of revenue and adoption, accounting for the second-largest share worldwide. The two regions, collectively, are estimated to retain their dominant position in the market throughout the forecast period. The Asia Pacific, the Middle East, and Africa are expected to grow the most in the coming years. 

Frequently Asked Question:

The market for Exploration And Production (E&P) Software Market is expected to reach USD$ 2.92 Bn in 2025.

The Exploration And Production (E&P) Software Market is expected to see significant CAGR growth over the coming years, at XX %.

The report is forecasted from 2015 -2025.

The base year of this report is 2014.

ION Geophysical Corporation, Exprodat Consulting Ltd., Baker Hughes, Inc., Weatherford International Plc., IHS, Inc.are of the major players in the global market.

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Published Date:  Apr 2017
Category:  Technology & Media
Report ID:   58407
Report Format:   PDF
Pages:   120
Rating:    4.7 (60)
Delivery Time: 24 Hours to 48 Hours   
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