Oil and Gas Data Management Market Overview:
Data management incorporates a set of new generation technologies and architectures that are especially designed to extract crucial information from large volume of structured or unstructured data by enabling high-velocity capture and analysis. In the present scenario, it has become a critical investment choice that has significantly contributed to the growth of the smart and digital industry.
The adoption of data management in the emerging markets, including Brazil, The Cooperation Council (GCC) countries, and African countries is at its nascent stage, unlike that in the developed markets such as North America and Europe. However, the potential impact of enhanced analytics solutions and services on business activities has increased in the region. Furthermore, the relative importance of oil and gas companies in most of the local economies and the need for extracting actionable insights from aggrandized amount of raw data are anticipated to fuel the demand for enhanced data management solutions and services. This is projected to create new growth opportunities for key players operating in the industry.
The report includes the study of the oil and gas data management market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s Five Forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
The key manufacturers operating in the market include Cisco Systems, Inc., EMC Corporation, Hewlett Packard Enterprise Company, Hitachi, Ltd., IBM Corporation, Infosys Limited, NetApp, Inc., Oracle Corporation, SAP SE, and Wipro Limited.
The market is classified based on type into data analysis, IT infrastructure, and services. Based on regions, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Oil and Gas Data Management Market Segmentation
Top Impacting Factors
The key impacting factors of the oil and gas data management technologies and services include operational efficiency and performance improvement, increase in popularity of real-time analysis & predictive analytics solutions, increased awareness, increase in the number of cyberattacks & data breaches, lack of skilled workforce, and high initial investment. These factors have significantly contributed to the growth of oil and gas data management technologies and services, and are anticipated to impact the market growth during forecast period.
Top Impacting Factors
The revenue of the global oil and gas data management market size is projected to grow by 2.9 times during 2015‐2022, owing to the increase in impact of the driving factors such as operational efficiency & performance improvement, increase in popularity of real-time analysis & predictive analytics solutions, and increased awareness among end users. Moreover, the diminishing impact of restraining factors such as lack of skilled workforce, high initial investment, and increase in the number of cyberattacks & data breaches incidents are projected to supplement the market growth during the forecast period.
Top Investment Pockets
The below mentioned figure signifies the growth potential of the oil and gas data management technologies and services based on various segments including data analysis, IT infrastructure, and services. The data analysis segment is projected to grow at the highest CAGR of around 18% during the forecast period, owing to increase in the need for enhanced data management solutions such as reservoir engineering, drilling operations management, and upstream data management solution among end users to utilize the aggrandized amount of data for effective decision making and overall performance improvement.
Key Investment Pockets
- Target Untapped and Emerging Markets
Data management analytics solutions play a crucial role to improve the conventional, unconventional, and midstream operations in the oil and gas industry. Emerging markets, such as Latin America, Middle-East, and Africa, are expected to present significant growth opportunities for prominent players, owing to limited penetration of data management solutions, services, and infrastructure in the region.
- Introduction of Enhanced Solutions
The introduction of advanced data management solutions, such as real-time analytics and predictive analytics solutions, which can easily aggregate and analyze data from different data sets or sources, are anticipated to create new growth opportunities for prominent players. For instance, real-time integration of data into mechanical earth models-a statistical representation of the geo-mechanical state of oil reservoir-enable oil and gas engineers to identify oil reservoirs & reserves and predict oil availability in future. Thus, major players that offer data management solutions and services are anticipated to invest in R&D activities to introduce enhanced solutions that help oil and gas companies to improve oil exploration and discover new resource fields.
- The study provides an in-depth analysis of the oil and gas data management technologies and services along with current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities along with their impact analysis on the oil and gas data management market is provided in the report.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2014 to 2022 is provided in the report to determine the market potential.
Oil and Gas Data Management Market Key Segments
The oil and gas data management market is segmented based on type and geography.
- Data analysis
- IT infrastructure
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled in the Report
- Cisco Systems, Inc.
- EMC Corporation
- Hewlett-Packard Enterprise Company
- Hitachi, Ltd.
- IBM Corporation
- Infosys Limited
- NetApp, Inc.
- Oracle Corporation
- SAP SE
- Wipro Limited
Other Market Players Mentioned in the Report
- CliQr Technologies, Inc.
- Bapco (Bahrain Petroleum Company)
- Noah Consulting, LLC