How Much Does The Oilfield Services Industry Spebd Of Software
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Edition: 8;Released: February 2022
Executive Engagements: 1379
Companies: 97 - Players covered include Baker Hughes, a GE company; Computer Modelling Grouping Ltd.; eDrilling AS; Emerson Paradigm Holding LLC; Due east-Tech International; ETL Solutions Ltd.; Exprodat Consulting Ltd.; M.E.Plan Consulting Srl; GE Oil & Gas; Halliburton; Ihs Markit Ltd.; Ikon Scientific discipline Ltd.; Interactive Network Technologies, Inc.; Ion Geophysical Corporation; Kongsberg Gruppen ASA; OVS Group LLC; P2 Free energy Solutions; Pason Systems Corp.; Peloton Interactive, Inc.; Petroleum Experts Ltd.; Petrolink Services Inc.; RockFlow Dynamics; Schlumberger Ltd.; TDE Group Limited and Others.
Coverage: All major geographies and key segments
Segments: Deployment (On-Premise, Cloud); Software Type (Reservoir Simulation, Product, Drilling, Navigation System, Risk Management Mapping, Performance Tracking, Portfolio Aggregation, Resource Valuation, Seismic Aamplitude Analysis, Other Software Types)
Geographies:World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Abstract -
Global Exploration and Production (East&P) Software Market to Reach $9.9 Billion by 2026
The diverse kinds of E&P software are available in the market including reservoir drilling, simulation, and production, reservoir characterization, resource valuation, navigation system, seismic amplitude analysis, portfolio assemblage, and risk management mapping software, amid others. Production software is likely to register robust growth driven past the increment in production in the upstream operations globally in the long run. Adoption of simulation software is also likely to rise, as it offers tentative results on the basis of available information. Such simulation software can be used with the current software of a company. The tendency towards digitalization is anticipated to fuel the Due east&P software and services market place. Digitalization has facilitated complex platforms in the energy industry to augment connectivity, surveillance, mobility, and storage technologies, and enable quick data analysis and processing, amend agility, and decision making in existent-time. This is anticipated to give a heave to the E&P software market. The ascent need to identify novel resources for the extraction of oil and gas products is as well driving the use of emerging technologies, which is aiding market growth.
Global Exploration and Production (East&P) Software market is projected to register healthy growth over the medium-to-long term. The market, estimated at United states of america$5.6 Billion in 2022 is projected to attain US$nine.ix Billion by 2026, registering a compounded annual growth rate (CAGR) of xiv.5% over the analysis menstruation. United States represents the largest regional market for Exploration and Production (E&P) Software, accounting for an estimated 25.i% share of the global total. The market, estimated at US$one.four Billion in 2022 is projected to reach The states$two.8 Billion by the terminate of the analysis period. Cathay is expected to spearhead growth and emerge as the fastest growing regional marketplace with a CAGR of 19.2% over the analysis menstruation. The marketplace is expected to progress steadily to evolve as a major regional market for Exploration and Production (E&P) Software, supported by various factors conducive to healthy growth.
Over the years, the oil and gas industry has quickly embraced digital technologies for effective management of costs and to enhance overall efficiencies, particularly in the wake of challenges emerging due to the highly volatile oil pricing scenario. Digitization efforts past oil & gas players have helped the companies to reduce costs by about 10-25%, while productivity is improved by around viii-10%. In addition, digitization is increasingly providing a rubber and environmentally sound operating surround. The increasing need for safety is driving oil & gas companies to rely extensively on avant-garde technologies and software solutions to amend operations. In the oil and gas manufacture, software tools accept played a critical role in development of new technologies.
Cloud Deployment to Accomplish $iii.nine Billion by 2026
Oil and gas companies are increasingly seeking out the scalability and ease of innovation that deject computing promises. New advances in deject calculating engineering are bringing major benefits of business analytics and data to the oil and gas industry. In recent years many companies in the oil and gas industry have started to brand the switch from in-house information storage to deject-based services. Global Cloud Deployment segment is estimated at US$1.9 Billion in 2022, and is projected to achieve US$three.9 Billion past 2026 reflecting a compounded annual growth charge per unit of 18.5% over the analysis period. United states of america constitutes the largest regional market for Cloud segment, accounting for 27.i% of the global sales. Prc is poised to register the fastest compounded almanac growth rate of 24.ii% over the analysis period, to reach US$409.3 Million past the close of the analysis period. More
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How Much Does The Oilfield Services Industry Spebd Of Software,
Source: https://www.prnewswire.com/news-releases/global-exploration-and-production-ep-software-market-to-reach-9-9-billion-by-2026--301502514.html
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