Global Data Business in Oil and Gas Market Valuable Growth Prospects and Insights on Future Scenario

Published: Wed Oct 24 2018

The increasing demand for systems that can efficiently handle information such as geological, seismic, and well logging data are anticipated to be the primary factors behind the growth of the data business in oil and gas market. Revenues arising from the data business in oil and gas market are expected to grow at a massive CAGR of nearly 19% through 2026. These insights have been extracted from the report titled "Data Business in Oil and Gas Market-Component – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026" that was recently included in the vast repository of the Market Research Reports Search Engine (MRRSE).

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National oil companies are expected to control major share in the data business in oil and gas, owing to owing to their increasing investments in data management services and software and big data frameworks. Upstream data business applications in the oil and gas business are also expected to dominate market share.

North America is expected to continue as the leader in data business in the oil and gas market through the forecast period. This can be attributed to increasing amounts of oil production, presence of shale oil reserves, easy access to necessary infrastructure, and the presence of numerous prominent players of the market in the region.

Data Business in Oil and Gas: Report Overview

This report provides readers an analysis & forecast at regional and global levels on data business in oil and gas, in terms of value (US$ Mn), for the period of forecast 2018 to 2026. An assessment of vital market dynamics, and drivers, opportunities, constraints, and trends that are influencing the demand for data business in oil and gas have been examined in the report.

A value chain analysis on the data business in oil and gas market has been given in the report, and the use Porter’s Five Forces Model, ecosystem analysis, PESTEL analysis, and IT spending analysis helps in better understanding of the situation among key market players. A complete market attractiveness analysis has also been incorporated to assess the market participants based on factors such as market size, general attractiveness, and growth rate.

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Data Business in Oil and Gas: Research Methodology

Primary and secondary research has been used widely to gain reliable information on the data business in oil and gas market. This includes detailed face-to-face and telephonic discussions with numerous industry experts and opinion leaders to achieve enhanced insight into factors such as market size, market trends, growth rates and competitive scenario. Primary research forms the bulk of the efforts in research, which has been validated with extensive secondary research.

Leading and emerging market players for data business in oil and gas have been assessed in detail, and data sources such as press releases and annual reports along with other relevant documents such as market reports and government publications have been assessed for studying the market’s landscape. The research approach and methodologies employed here have been found to be very effective in gaining actionable insights on the market data, market participant activity and previously unused business opportunities.

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