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U.S. Oil & Gas Analytics Market Trends

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

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U.S. Oil & Gas Analytics Trends

The oil & gas industry has witnessed a significant transformation toward digitization over the past few years, where analytics has gained a clear recognition. Cost reduction, workforce productivity, operational optimization and better decision-making are some of the key results offered by advanced analytical solutions. The companies are generating massive amounts of data through investments in big data platforms, IoT devices, and sensors that are required to be analyzed to draw meaningful insights.

Moreover, increasing awareness about digital oilfields and the transformation of exploration, drilling, and transportation operations will propel U.S oil & gas analytics market. Furthermore, the continued oil production growth is being simultaneously reinforced with several other factors sustaining the investment potential in the oil & gas industry.

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.