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U.S. Oil & Gas Analytics Market Size

Report ID: GMI4418
Published Date: May 2023
Report Format: PDF

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U.S. Oil & Gas Analytics Market Size

U.S. Oil & Gas Analytics Market size was valued at USD 1.8 billion in 2023 and is anticipated to grow at 24.9% CAGR from 2024 to 2032 owing to growing focus on mature oil fields and improving exploration of unconventional wells. In addition, the implementation of artificial intelligence and machine learning in oil and gas analytics platforms enables the acquisition of real-time data, resulting in a 6% to 8% improvement in efficiency.

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Analytics has offered various solutions to industry players to respond to the volatile price environment and technically challenging operations across unconventional fields. The prevailing shale discoveries of new oil fields across the Permian Basin in the U.S. along with growing demand for natural gas have unlocked huge industry growth prospects. It has enabled the companies to incline toward artificial intelligence and machine learning for optimizing its ongoing operations and to assess huge data generated from various assets including pipelines, refineries, drilling rigs and production platforms.

U.S. Oil & Gas Analytics Market Report Attributes
Report Attribute	Details
Base Year:	2023
U.S. Oil & Gas Analytics Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	24.9%
2032 Value Projection:	USD 13.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	120
Tables, Charts & Figures:	81
Segments covered:	Deployment, Application, Service
Growth Drivers:	Increasing exploration of unconventional wells Shift toward exploration of mature oil fields
Pitfalls & Challenges:	Cyber security threats

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of U.S. oil & gas analytics exceeded USD 1.8 billion in 2023 and is projected to expand at 24.9% CAGR from 2024 to 2032 due to rapid integration of advanced technologies such as AI and ML in oil and gas analytics platforms and subsequent improvement in operational efficiency.

Hosted oil & gas analytics industry in U.S. crossed USD 800 billion in revenue in 2022 and is estimated to accumulate a decent market share by 2032 led by an extensive utilization of big data resulting in improved worker safety and better management of manufacturing, operations, and assets.

The cloud segment accumulated 30% of the industry share in 2022, owing to the increased emphasis on analytical services across the industrial space to gather and interpret insights to make informed investment decisions.

Key players in the U.S. oil & gas analytics industry are SAP SE, Microsoft, Oracle, Cognizant, Accenture, Cisco Systems, Inc., TABLEAU SOFTWARE, LLC, Cloud Software Group, Inc., Teradata, IBM, Hitachi, Ltd., SAS Institute Inc., Capgemini, Hewlett Packard Enterprise Development LP, Deloitte, and Enverus.