Current Business Affairs Global Oil and Gas Cloud Applications Market 2018

Global Oil and Gas Cloud Applications Market Trends, Analysis, and
Forecast To 2025
Cloud Computing technologies are well-suited for oil and gas companies seeking for a proactive approach to meet the
industry challenges, including the need for workforce collaboration within the industry and with industry partners and
the need for improving production operations in high-risk drilling locations. Oil and gas industry comprises of huge data
and information which is substantially sensitive as is associated to the national income of various economies. Cloud
computing are solutions on Software-as-a-Service (SaaS) platform for storing and retrieving critical data. Oil and gas
cloud applications are the software solutions offered by cloud-based service providers, comprises of web hosting
services offered by indigenous providers to integrated technologies delivered by large enterprises with world-class
infrastructure.
Oil & gas industry is considered to be one of the many benefactors of cloud computing applications. The sector
comprises of intensive field work, and requisite data sharing from field instrumentation, regulators, contractors, and
other stakeholders in almost real time become vital for a profitable enterprise. The stakes are very high in oil and gas
exploration and hence, it becomes imperative for the business to operate in a secure and timely manner.
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Oil and gas cloud applications enables the field workforces to access sophisticated data of rig and fleet tracking, land and
water management, site engineering data, regulatory compliance, and, supervisory control. It also allows pay-per-user
modules certifying optimized expenditure on technological infrastructure and supplementary security measures are
better than client-server infrastructure, delivering an additional safety net for the industry.
Cloud based human resource (HR) management systems offer dynamic solutions such as employee management and
various other communications over the industry. The capability to build shared work environments is another advantage
offered by the technology in oil & gas industry. Documentation, data access, and other processes can be managed easily
at remote locations in real time, empowering field workforce to focus on the work. Furthermore, cloud based mapping
has reduced the load off oil and gas operations, facilitating employees with easy accessibility via smart phones.
Additional data security, operational scalability, flexibility, and alliances in real time, are few instances of cloud
computing being essential part of oil and gas operations across the globe.
Major decline in oil prices compelling companies to implement cost-effective cloud solutions and the advent of big data
along with analytical advancements are major factors spurring the global market. Cloud-based solutions in oil & gas
industry reduces the overall cost and also offer no-maintenance models and labor engagement. However, growing data
security issues with regulations compliances are major restraints for the market growth.
The global oil & gas cloud application market has been segmented by application and major sectors. On the basis of
application, the market has been segmented as Customer Relationship Management (CRM), Enterprise Content
Management (ECM) and Collaboration, Enterprise Resource Planning (ERP), Governance Risk and Compliance (GRC),
Data Analytics, Human Capital Management (HCM), Project Portfolio Management (PPM), and Supply Chain
Management (SCM). Based on major sector, oil & gas cloud application market has been bifurcated as upstream,
midstream, and downstream.