Home > Energy & Power > Oil and Gas > Oil and Gas Analytics > Upstream Oil & Gas Analytics Market

Upstream Oil & Gas Analytics Market Size

Report ID: GMI5788
Published Date: May 2023
Report Format: PDF

Download Free Sample

Upstream Oil & Gas Analytics Market Size

Upstream Oil & Gas Analytics Market was valued at USD 3.6 billion in 2023 and is projected to expand at 24.1% CAGR from 2024 to 2032. Advanced Analytics involves the use of advanced techniques and tools to autonomously or semi-autonomously analyse data or content, going beyond traditional business intelligence (BI) to uncover profound insights, make predictions, or provide recommendations. The rising recognition of digital oilfields, coupled with the transformation of exploration, drilling, and transportation operations, is expected to drive industry growth.

To get key market trends

Download Free Sample

What are the growth opportunities in this market?

Download Free Sample

There are several impacts of the cyber-security threats to the O&G industry including safety, environment, financial, quality, reputation, service disruption, and regulatory/legal. These issues have been evolved in response to the implementation of analytical tools, which are anticipated to hamper the upstream oil and gas analytics market growth. However, the growing demand for oil & gas analytics across the upstream sector owing to the ease of operations and precise exploration and production will further boost the upstream oil & gas analytics market statistics.

Upstream Oil & Gas Analytics Market Report Attributes
Report Attribute	Details
Base Year:	2023
Upstream Oil & Gas Analytics Market Size in 2023:	USD 3.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	24.1%
2032 Value Projection:	USD 24.8 Billion
Historical Data for:	2019 to 2023
No. of Pages:	300
Tables, Charts & Figures:	562
Segments covered:	Deployment, Service, Application
Growth Drivers:	Increasing exploration of unconventional wells Shift toward exploration of mature oil fields Growing demand for oil and gas
Pitfalls & Challenges:	Cyber security threats

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of upstream oil & gas analytics surpassed USD 3.6 billion during 2023 and will register 24.1% CAGR during 2024-2032, with increasing acceptance of digitalization trend and the focus on optimizing production.

Upstream oil & gas analytics industry size from on-premises deployment model will record 22% growth rate from 2023 to 2032, with a higher focus on data privacy and a surge in cyber-attack risks.

Exploration and drilling applications held over 29% of the industry share in 2022, due to requirements for monitoring, planning and maintenance across the various stages.

North America upstream oil & gas analytics industry is expected to witness significant growth by 2032 due to increased penetration of shale reserves, development of Lower-48 blocks, and the demand for cost-effective analytical products to monitor mature & abandoned oilfields.

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., and IBM are the leading industry participants.