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Oil & Gas Analytics Market Size
- Report ID: GMI685
- Published Date: Jun 2022
- Report Format: PDF
Oil & Gas Analytics Market Size
Oil & Gas Analytics Market size surpassed USD 5 billion in 2021 and is projected to grow at a CAGR of over 23% between 2022 and 2030. A paradigm shift toward the exploration of mature oil fields along with the growing exploration of unconventional wells will boost the industry growth.
The oil & gas analytics market is expected to witness substantial growth during the forecast period, with companies resolving to achieve lower maintenance and operational costs. Stringent government regulations & mandates to ensure safety during operations in the upstream, midstream, and downstream sectors have increased the deployment of analytical services in the industry.
In recent years, the global economy witnessed a negative impact due to the widespread outbreak of COVID- 19. Most industries across the globe have been impacted by the pandemic owing to stringent lockdown policies by several governments, resulting in operation halts. The pandemic forced retailers to halt business for a certain period, which can be attributed to the low-capacity operations at refineries and a decline in sales. However, the oil & gas analytics market is now being operated at full capacity globally, which has provided an opportunity for O&G companies to invest in digitalization.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Oil & Gas Analytics Market Size in 2021: | 5,702.0 (USD Million) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 23% |
| 2030 Value Projection: | 33,585.3 (USD Million) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 430 |
| Tables, Charts & Figures: | 968 |
| Segments covered: | Deployment, Application, Service |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Oil & Gas Analytics Market Scope
