North American Oil and Gas Analytics Market Future Challenges and Industry Growth Outlook by 2022-2027

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North American Oil and Gas Analytics Market
Outlook 2021 - Industry Statistics Analysis by
2027 Graphical Research
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• North American Oil and Gas Analytics Market size
  is projected to grow at a significant CAGR from
  2021 to 2027. Technological advancements for an
  efficient real-time data analysis system are
  driving North America oil and gas analytics
  market expansion. The industry has received an
  impetus with rising demand for configuration
  control and a lower cost of ownership. Increasing
  production optimization and expanding reservoir
  have signified the growth potentials of oil and
  gas analytics.
• The advent of a host of analytics engines is
  helping generate a massive chunk of financial and
  operational data. So much so that advancements in
  remote instrumentation, process automation and
  IoT have unlocked opportunities in the oil and
  gas industry.
• Upstream producers, downstream and midstream
  organizations are using advanced analytics to
  bolster output and optimize production settings.
  Operators are expected to embrace oil and gas
  analytics to bridge the performance gap.
  According to an estimate, the North America oil
  and gas analytics market size could witness a
  commendable gain by 2027.
• Oil and gas (OG) companies are likely to explore
  opportunities in cloud services to enable rapid
  data recovery, the flexibility of data management
  and access to unlimited storage. OG companies
  are using cloud services with big data and
  business intelligence analytics techniques to
  streamline process optimization. The cloud
  service segment across oil gas analytics
  industry in North America is forecast to expand
  at a notable CAGR over 2021-2027.

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• Of late, upstream oil and gas market is cashing
  in the upsides of big data to boost fluid front
  monitoring geophones, channel counting and carbon
  capture. Ever-growing amount of data generated
  from oil gas companies has furthered the
  significance of managing seismic data and enhance
  reservoir engineering. Besides, OG companies are
  likely to use big data to customize predictive
  models to anticipate likely equipment failures.
• The ramification of the COVID-19 outbreak has had
  a huge toll on the oil and gas industry across
  the U.S. Shifting supply dynamics from production
  cuts to slowing of production challenged the oil
  and gas analytics suppliers in North America. Oil
  consumption in the U.S. was reported to have
  dipped 2.3 million b/d in 2020. In the hindsight,
  the pandemic compelled oil traders to adopt
  digital solutions for future production forecasts
  and cost optimization.
• The competitive landscape of the North America
  oil and gas analytics market is propelled with
  industry players such as Hewlett Packard
  Enterprise, Microsoft, Accenture, Capgemini,
  Cognizant, IBM, Cisco Systems, Oracle and SAS
  Institute, among others. Leading companies are
  likely to involve in organic and inorganic
  strategies to gain a stronghold in the ecosystem.
  
• Considering the pace at which advanced analytics
  is advancing, oil and gas companies are likely to
  adopt big data to bolster equipment lifespan,
  reduce carbon footprint, streamline logistics
  efficiency and monitor oil exploration areas. OG
  suppliers will make moves to transform massive
  datasets into seamless exploration decisions and
  reduced OPEX.

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• Segmentation of North American Oil and Gas
  Analytics Market
• North America Market, By Deployment
• On-Premise
• Hosted
• North America Market, By Services
• Professional
• Cloud
• Integration
• North America Market, By Application
• Upstream
• Exploration and Drilling Analytics
• Field Surveillance and Monitoring Analytics
• Production Planning and Forecasting Analytics
• Equipment Maintenance Management Analytics
• Asset Performance Analytics
• Workforce Management Analytics
• Midstream
• Pipeline SCADA Analytics

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