Oil & Gas Analytics Market Size 2016 - 2024 oct 2016 | Page 2

Oil & Gas Analytics Market

REPORT DESCRIPTION

Oil & Gas Analytics Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast
2016 - 2024
Transparency Market Research has released a new market report titled Oil & Gas Analytics Market - Global
Industry Analysis, Size, Share, Growth Trends and Forecast 2016 - 2024.The report defines and segments
the oil & gas analytics market, providing analysis and forecasts of the global revenue. According to the
report, the global oil & gas analytics market stood at US$6,924.4 Mn in 2015 and is likely to reach
US$35,786.2 Mn by 2024, expanding at a CAGR of 19.3% between 2016 and 2024.
Complete Report with TOC : http://www.transparencymarketresearch.com/oil-gas-analytics-market.html
Analytics services utilized in the oil & gas industry are termed as oil & gas analytics services. Oil & gas
analytics services include software programs, hardware, sensing and monitoring equipment, and others.
Oil & gas analytics services are vital in the present day scenario. Currently, oil & gas players are looking
out for new technologies and processes to cut down production costs and optimize operations to increase
profit margins. Oil & gas analytics services provide best solutions to tackle these challenges that are
currently faced by the oil & gas industry.
Oil & gas analytics services aid in minimizing the risks and improving safety across all the processes in the
oil & gas industry. Oil & gas production output can also be enhanced with the assistance of oil & gas
analytics services. Oil & gas analytics can also be used for assessing risky operations, and preventive
measures can be undertaken to avoid accidents. Oil & gas analytics provides insights into logistics and
supply chain and optimizes processes with integration of data across the entire supply chain. Oil & gas
analytics also aids in monitoring of market sentiment, including potential opportunities, brand health, and
competitor information. Declining oil & gas prices have encouraged adoption of oil & gas analytics services
in the oil & gas industry. Increasing production from unconventional oil & gas resources has also boosted
the adoption of oil & gas analytics services.
The global oil & gas analytics market has been broadly segmented on the basis of application into
upstream, midstream, and downstream.
Upstream application was the largest application segment of the global oil & gas analytics market,
accounting for more than 50% of the global share in 2015. Upstream application segment includes oil &
gas analytics services such as asset maintenance, exploration and production optimization, risk and
Health, Safety & Environment (H&SE) management, drilling optimization, and finance commissioning
assessment. Adoption of oil & gas analytics services in upstream application has increased owing to rising
drilling and production costs and associated risks.
Midstream application accounted for around 20% of the global oil & gas analytics market share in 2015.
Midstream application segment includes oil & gas analytics services such as transportation optimization
(vessels and ships), supply chain management, pipeline risk assessment, and storage optimization.

Transparency Market Research

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