Oil and Gas Data Management Market
The global oil and gas data management market is growing at a significant pace. This growth can be attributed to reasons such as greater reliance on information technology to increase oilfield recovery and to reduce nonproductive activities, advancements and innovations made in technology, increasing research and development and launching of new products in this field to increase efficient data management. In addition, several new companies are providing niche solutions at competitive prices in the global market, which is expected to accelerate the growth of the market. However, there are certain factors, which restrain the global oil and gas data management market growth. They include lack of awareness about the benefits of oil and gas data management, high initial investment required to implement a data management solution, increasing level of challenges arising due to the growing volume and velocity of the data and high time, costs, and risks associated with managing and moving data.
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Global Oil and Gas Data Management Market: Regional Analysis The largest share in the global oil and gas data management market is seen by the North American region. This growth is expected to be followed by Asia Pacific. Owing to the large reserves of oil and gas in the Middle East region, the demand for oil and gas data management is expected to grow rapidly in the Middle East and Africa. Also contributing towards the growth in this region is the emergence of many new companies. A significant share is also contributed by Europe and Latin America in the global oil and gas data management market.
Global Oil and Gas Data Management Market: Competitive Players Some of the major companies in the global oil and gas data management market are Wipro, IBM, Infosys, DataCo, TCS, Teradata, SAP, Capgemini, VMware Inc., Oracle, and NetApp.
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