Oil and Gas Cloud Applications - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Oil and Gas Cloud Applications Market is accounted for $3.86 billion in 2018 and is expected to reach $14.67 billion by 2027 growing at a CAGR of 16.0%. Growing adoption of private cloud for encrypting data and lowering operational costs are likely to boost the growth of the oil and gas cloud applications market. However, stringent government rules and regulatory compliances is likely to hamper the profit boundaries.
Oil and gas sector deals with a huge volume of data, which is significantly sensitive as it constitutes to the national income of many countries. Cloud applications are solutions based on Software-as-a-Service platform for storing and accessing critical data. The software solutions offered by cloud-based service providers specifically for oil and gas industry are termed as oil and gas cloud applications. These solutions consist of different offerings from web hosting services offered by local providers to integrated technologies provided by large enterprises with world-class infrastructure.
Based on component, the Enterprise Asset Management (EAM) segment is estimated to have a lucrative growth due to the demand for high-functioning assets and uninterrupted uptime in the oil and gas industry. By geography, Europe is likely to have a huge demand due to the presence of major vendors which have a direct presence through corporate offices and Research and Development (R&D) centers or an indirect presence through sales and distribution channel partners.
Some of the key players in the Oil and Gas Cloud Applications market include ABB, Aspentech, Aucerna, Bentley Systems, Cisco Systems, Inc., Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, IFS, Infor, Microsoft Corporation, Oracle Corporation, PetroCloud LLC, Quorum Software, Risk Edge Solutions, Sage Software Solutions, Salesforce, SAP SE, Seven Lakes Technologies, Tableau Software Inc, and TIBCO Software Inc.
Deployment Models Covered:
• Large Enterprises
• Small & Medium Business Enterprises
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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