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Cloud Computing in Oil and Gas Market Share

Report ID: GMI12712
Published Date: Dec 2024
Report Format: PDF

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Cloud Computing in Oil & Gas Market Share

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Halliburton, AVEVA, and Honeywell hold a significant market share of over 22% in cloud computing in oil & gas industry. These companies are focusing on enhancing their cloud service offerings, emphasizing Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) to address the diverse needs of oil and gas operations. Their strategic initiatives include forming partnerships and collaborations to leverage complementary technologies and expand their market reach. This collaborative approach allows them to provide integrated solutions that improve operational efficiency, reduce costs, and enhance decision-making capabilities across the industry.

Additionally, players such as AVEVA and Honeywell are making strides in the cloud computing landscape by prioritizing flexible and scalable solutions tailored for the oil and gas industry. These firms are increasingly focusing on addressing key challenges such as data integration, cybersecurity, and regulatory compliance through robust cloud strategies. By capitalizing on advancements in cloud technology, they are enhancing their service portfolios and positioning themselves as key enablers of digital transformation within the sector.

As the demand for innovative cloud solutions continues to grow, the competitive landscape will likely see further consolidation and the emergence of new players aiming to capture market share in this dynamic environment.

Cloud Computing in Oil & Gas Market Companies

Major players operating in the cloud computing in oil & gas industry include:

ABB
AVEVA
Baker Hughes
Halliburton
Honeywell
IBM
Rockwell Automation
SAP
Schlumberger
Siemens Energy

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of cloud computing in oil & gas reached USD 2.7 billion in 2024 and is set to grow at a 7.3% CAGR from 2025 to 2034, driven by the need for enhanced operational agility and improved data accessibility.

The private cloud segment is expected to expand at a CAGR of over 5.5% through 2034, led by its enhanced security and compliance features, making it ideal for managing sensitive data in the oil and gas sector.

The North America market accounted for 30% of the revenue share in 2024, supported by significant investments in cloud infrastructure and advancements in digital transformation initiatives.

The key players in the industry include ABB, AVEVA, Baker Hughes, Halliburton, Honeywell, IBM, Rockwell Automation, SAP, Schlumberger, and Siemens Energy.