Midstream Oil & Gas Analytics Market - By Deployment (On-premise, Hosted), By Service (Professional, Cloud, Integration), By Application (Pipeline SCADA, Fleet, Storage Optimization) & Forecast, 2024 – 2032

Midstream Oil & Gas Analytics Market Size

Midstream Oil & Gas Analytics Market size was valued at USD 1.5 billion in 2023 and is projected to grow at a CAGR of 25.4% by 2032. The oil and gas sector has undergone a significant digital transformation, with a strong focus on the value of analytics. Advanced analytical solutions have emerged as powerful tools that can deliver a wide range of benefits, including cost savings, increased workforce productivity, optimized operations, and enhanced decision-making capabilities. To leverage these benefits, companies are making substantial investments in big data platforms, Internet of Things (IoT) devices, and sensors to generate massive volumes of data that require thorough analysis in order to extract valuable insights. The global market for oil & gas analytics is likely to witness 23.8% CAGR during the forecast period.
 

Midstream oil and gas analytics refers to the collection, analysis, and interpretation of data related to the transportation, storage, and processing of oil and gas products in the midstream sector of the energy industry. It involves applying advanced analytical techniques and technologies to gain insights, optimize operations, and make informed decisions in the midstream segment of the oil and gas value chain. The midstream sector has recognized the importance of data analytics in optimizing operations and improving decision-making. As a result, there has been a growing adoption of advanced analytics tools and techniques, including machine learning, predictive analytics, and data visualization, to gain valuable insights from large volumes of data.
 

The oil and gas industry, particularly in the midstream sector, deals with a significant amount of sensitive data. As digital technologies become more prevalent and cyber infrastructures are increasingly relied upon, the sector has become more vulnerable to new threats. Cyber-attacks in the industry are becoming more sophisticated, making detection and defense more challenging. The impacts of these cyber-security threats on the oil and gas industry are far-reaching, affecting safety, the environment, finances, quality, reputation, service continuity, and regulatory compliance. These issues have arisen as a response to the implementation of analytical tools, which could potentially hinder the growth of the midstream oil & gas analytics market.
 

Additionally, the increasing demand for oil and gas analytics in the midstream sector, driven by operational efficiency and precise pipeline monitoring, will continue to drive growth in the industry.
 

COVID-19 Impact

The Covid-19 pandemic has had a detrimental impact on the oil and gas industry, leading to a considerable decrease in investments. In 2020, overall investments in the industry declined by more than 33%. This decline can be attributed to factors such as government-imposed lockdowns in key geographies, reduced industrial activities, and an oversupply of oil in the market. The significant drop in crude oil prices was a result of reduced demand during the initial wave of the virus and uncertainty surrounding the reopening of economies. Moreover, the deployment of pigging services will further boost the market growth.
 

Midstream Oil & Gas Analytics Market Trends

Midstream companies are striving to enhance operational efficiency and reduce costs through analytics. By analyzing data on pipeline flow rates, asset utilization, maintenance schedules, and energy consumption, companies can identify areas for improvement, optimize asset performance, and minimize downtime. Safety and risk management are paramount in the midstream sector. Analytics is being used to analyze data related to safety incidents, environmental factors, and compliance regulations. By identifying patterns and correlations, companies can implement proactive measures to prevent accidents, reduce operational risks, and ensure regulatory compliance. Midstream operators are increasingly leveraging analytics to monitor the health and performance of critical assets such as pipelines, compressor stations, and storage facilities.
 

Predictive maintenance techniques enable companies to identify potential equipment failures in advance, schedule maintenance activities proactively, and avoid costly unplanned downtime. The Internet of Things (IoT) and sensor technologies are being increasingly utilized in the midstream sector to collect real-time data from assets and infrastructure. Integrating IoT and sensor data with analytics platforms provides valuable insights into asset performance, energy consumption, and process optimization. With the increasing reliance on data analytics, midstream oil & gas analytics market players are placing a greater emphasis on data security and privacy.
 

Robust data governance practices, encryption techniques, and compliance with data protection regulations are crucial to ensure the confidentiality and integrity of sensitive information. Midstream analytics helps optimize supply chain and logistics operations. By analyzing data on transportation routes, storage capacity, demand forecasts, and inventory levels, companies can improve scheduling, minimize transportation costs, and ensure timely delivery of products to downstream customers.
 

Midstream Oil & Gas Analytics Market Analysis

Based on deployment, the midstream oil & gas analytics market is segmented as on premise and hosted. The on premise segment is slated to register about 22% growth rate through 2032. The oil and gas industry is experiencing an increasing emphasis on data privacy and a rise in the number of cyber-attacks. As a result, there is a growing preference for on-premises deployment of analytical software solutions. On-premises deployment involves utilizing the company's own IT infrastructure to gather, display, and organize business data. This approach is favored over cloud-based solutions due to rising concerns regarding information security and confidentiality in the cloud. On-premises software offers enterprises full control over their data and allows them to address security concerns more effectively.
 

Based on service, the midstream oil & gas analytics market is segmented as professional, cloud, and integration. The cloud segment is likely to attain nearly 24% growth up to 2032. Cloud analytics is a service model that involves implementing one or more analytics components on the cloud. This approach allows companies to easily scale their analytical capabilities as their business grows, eliminating the need to manage on-premises platforms. Cloud applications offer advantages such as quick data recovery in case of emergencies like power outages or natural disasters. The adoption of cloud analytics in the oil and gas sector has been driven by its ability to handle vast amounts of data while ensuring fast and accessible delivery of analytical outputs.
 

Based on application, the midstream oil & gas analytics market is segmented as pipeline SCADA, fleet, and storage optimization. The pipeline SCADA application held approximately 52% of the in 2022 and is expected to observe lucrative pace by 2032. There is a growing emphasis on leveraging data analytics and machine learning techniques in Pipeline SCADA systems. By analyzing the vast amounts of data collected from sensors and other sources, operators can gain insights into pipeline performance, detect anomalies, and predict maintenance needs. This proactive approach to maintenance helps optimize operations and minimize downtime. Advancements in communication technologies and mobile applications have enabled remote monitoring and control of pipeline systems. Operators can access real-time data, receive alerts, and perform control actions from anywhere, improving operational efficiency and responsiveness.
 

Asia Pacific midstream oil & gas analytics market is set to witness a CAGR of over 24.5% between 2023 to 2032. Midstream companies in the Asia Pacific region are increasingly leveraging analytics solutions to optimize their operations and improve efficiency. By analyzing data from various sources, including pipeline systems, storage terminals, and transportation networks, companies can identify bottlenecks, streamline processes, and reduce operational costs. Real-time monitoring and analytics are gaining traction in the midstream sector.
 

The midstream oil & gas analytics market participants are deploying sensors, IoT devices, and advanced analytics platforms to capture and analyze data in real-time. This enables them to monitor key performance indicators, detect anomalies, and make timely decisions to optimize the transportation and storage of oil and gas products. Predictive maintenance is becoming increasingly important in the midstream sector. By using data analytics techniques such as machine learning, midstream companies can predict equipment failures, optimize maintenance schedules, and minimize downtime. This proactive approach to maintenance helps improve asset reliability, extend equipment lifespan, and reduce maintenance costs. Safety and risk management are critical concerns in the midstream sector. The market for oil & gas analytics in the United States is set to cross USD 13.1 billion by 2032.
 

Midstream Oil & Gas Analytics Market Share

Some of the key players operating across the midstream oil & gas analytics market are:

• Tableau Software
• TIBCO Software Inc
• Teradata
• Cisco Systems, Inc
•  Accenture
• Cognizant
• Oracle
• Microsoft Corporation
•  SAP SE
• Deloitte
• Hewlett Packard Enterprise Company
•  Capgemini
•  SAS Institute Inc
•  Hitachi Ltd
•  IBM

Increasing focus on the deployment of analytics software across the industry along with various technological innovations by these players will enhance the overall market scenario.
 

Midstream Oil & Gas Analytics Industry News:

• In March 2022, SAP announced the availability of experience-driven offering to process analytics. The new solution correlates experience data from suppliers, employees, and customers with underlying IT systems, which provides companies the ability to understand the way to optimize end-to-end business processes for both customer experience and operational excellence.
   
• In April 2022, Microsoft collaborated with Bharat Petroleum Corporation Ltd. to accelerate the company’s digital transition and creating the future of innovation in the O&G industry. This partnership seeks to unlock the opportunities with Microsoft’s cloud solution, which offers to address new challenges of the O&G sector.
   

This midstream oil & gas analytics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

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By Deployment

• On Premises
• Hosted

By Service

• Professional
• Cloud
• Integration

By Application

• Pipeline SCADA
• Fleet
• Storage Optimization

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • Poland
  • Netherlands
  • Russia
  • UK
  • France
  • Norway
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia

• Middle East & Africa
  • Turkey
  • Kuwait
  • Oman
  • Saudi Arabia
  • UAE
  • Qatar
  • Nigeria
  • Angola
  • Egypt
  • Algeria 
• Latin America
  • Brazil
  • Argentina
  • Chile
  • Peru