U.S. Oil and Gas Analytics Market Analysis and Development Forecast by Applications, Types, Size and Forecast to 2025

U.S. Oil and Gas Analytics Market Report contains historic data that spans 2014 to 2018, and then continues to forecast to 2025. That makes this report so invaluable, resources, for the leaders as well as the new entrants in the Industry Research details developments in the Report with Detailed Analysis of Key Companies Capacity, Production, Revenue, Price and Gross Margin

The size of U.S. Oil and Gas Analytics Market was registered at USD 825 million in the year 2018 and is anticipated to cross USD 2 billion by 2025. Between the period 2019-2025, the U.S. Oil and Gas Analytics Market is expected to register a CAGR of 14.5%. According to the U.S Department of Energy, proven gas reserves increased by 85%, which is more than 450 Tcf, in 2019. Moreover, the growing need for production optimization along with the current deployment of IoT and IIoT across drilling and production assets could drive industry landscape over the forecast period.

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Meanwhile, with several technological advancements, the companies are now able to generate real-time information from production platforms and reservoirs. This enables companies to make an early prediction regarding equipment failures. With recent enhancements in cloud computing capabilities, advanced network security, unlimited storage, and cost saving the requirement of data analytics has further escalated.

The industry has seen a shift from on-premise applications towards hosted. This shift is being supported by key benefits such as easy data sharing and integration, reduced cost, and automatic system updates. High maintenance and upgradation cost, hardware deterioration, and probability of permanent data loss associated with on-premise applications have further restrained their adoption in the industry.

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Current business partnerships to attain a leading position in the industry is a key growth strategy followed by the companies. Constant spending on technology innovation is bringing advanced analytics solutions in the industry.

The companies are also involved in mergers and acquisitions to gain technological excellence. Furthermore, they and are also investing heavily to bring innovations in the industry.

Major players operating in the U.S oil and gas analytics market include Accenture, IBM, Cognizant, and Microsoft Corporation.  These industry leaders are actively seeking strategic collaborations with technology providers for product innovation to gain competitive advantage. Global Market Insights, Inc. anticipates that the U.S. oil and gas analytics market could likely grow more than 14.5% by 2025.

The U.S. oil and gas analytics market is set to grow on account of increasing adoption of data gathering devices and growing awareness toward importance of data. Increasing requirement of production optimization and risk assessment platforms in the current unpredictable industry scenario will stimulate the demand for advanced AI and analytical tools. The industry players are focusing toward managing their respective O&M cost that has been significantly improved by using new data analytics software.

Partial Table of Contents (ToC) of the report:

Chapter 4Â Â Â  U.S. Oil & Gas Analytics Market, By Deployment

4.1Â Â Â U.S. Oil & gas analytics market share by deployment, 2018 & 2025

4.2Â Â Â On-premise

4.2.1Â Â Â U.S. market from on-premise, 2014 - 2025

4.3Â Â Â Hosted

4.3.1Â Â Â U.S. market from hosted, 2014 - 2025

Chapter 5Â Â Â  U.S. Oil & Gas Analytics Market, By Service

5.1Â Â Â U.S. Oil & gas analytics market share by service, 2018 & 2025

5.2Â Â Â Professional

5.2.1Â Â Â U.S. market from professional, 2014 - 2025

5.3Â Â Â Cloud

5.3.1Â Â Â U.S. market from cloud, 2014 - 2025

5.4Â Â Â Integration

5.4.1Â Â Â U.S. market from integration, 2014 - 2025

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The abundant availability of proven O&G reserves accompanied by focus on the exploration of unconventional reserves will positively influence the business growth. As per the U.S. Department of Energy, in 2019, the proven gas reserves surged by 85%, which was over 450 Tcf. In addition, the growing need for production optimization coupled with the ongoing deployment of IoT and IIoT across drilling and production assets will complement the industry landscape.

Surging O&G infrastructure spending will significantly increase the adoption of analytics across various divisions. Rising volumes of oil and gas supplies has instigated the need for additional infrastructure requirement across the U.S. with Northeast and Southwest regions contributing over 19% and 36% of the total infrastructure investments. As per API, in 2017, the gathering & processing and refining divisions accounted to about 4.9 billion and USD 5.2 billion respectively.

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