The United States Oil and Gas Analytics Market is being driven by increasing unconventional oil and gas production and the growing demand for crude oil in the country during the forecast period.
The TechSci Research report, “United States Oil and Gas Analytics Market – By Region, Competition Forecast & Opportunities, 2028,” the market is expected to experience steady growth from 2024 to 2028. Factors contributing to this growth include increased investments in upstream oil and gas, rising demand for oil and gas, and a focus on unconventional oil and gas exploration and production activities.
The market growth is also fueled by the growing demand for analytics, rapid digitalization, and the adoption of advanced technologies by enterprises to meet business needs. Vendors are innovating their products by integrating technologies like artificial intelligence (AI), big data, and the Industrial Internet of Things (IIoT) to meet customer demands. Additionally, the increasing availability of cloud-based solutions and the enterprise’s focus on reducing operational expenditure (OPEX) through oil and gas analytics further contribute to market growth.
The Permian basin, with the highest number of oil rigs in the United States, and the Eagle Ford basin, with the second-highest number, are key areas driving market growth. Both basins are primarily located in Texas, which further enhances market prospects in the forecast period.
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The United States Oil and Gas Analytics Market is categorized by service, deployment mode, application, region, and competitive landscape. Services include professional, cloud, and integration, while applications span upstream, midstream, and downstream sectors. The upstream segment encompasses exploration and drilling, field surveillance and monitoring, production planning and forecasting, equipment maintenance management, asset performance, and workforce management. The midstream segment covers pipeline SCADA, fleet, and storage optimization, while the downstream segment includes commodity trading, demand forecasting, pricing, and refining. Regionally, the market is segmented into the West, Midwest, Northeast, and South.
In 2022, the upstream segment dominated the United States oil and gas analytics market and is poised to sustain its leadership through the forecast period. Enterprises are actively expanding their exploration efforts for crude oil both onshore and offshore, leveraging geospatial and exploration solutions to discover new oil reserves in remote areas. Governments and service providers are enhancing their analytical capabilities during the exploration phase to optimize oil production efficiently. Companies are adopting upstream analytical tools such as infrastructure analytics to streamline drilling and extraction processes. Additionally, governments are incentivizing exploration and production activities, further driving market growth.
Deployment mode options include on-premises and cloud. Many companies are leveraging cloud platforms to enhance operational efficiency, as cloud services facilitate easier data processing and collection along the value chain. The use of cloud-based deployment is essential for managing data collected from various points and channels, driving its adoption and fueling segment growth.
Major companies operating in the United States Oil and Gas Analytics Market are:
- SAP SE
- Tableau Software
- Microsoft Corporation
- Hitachi America Ltd
- Oracle Corporation
- Cognizant Technology Solutions U.S
- Capgemini, Accenture PLC
- Cisco System, Inc
- Tibco software
- IBM (International Business Machines Corporation)
- SAS Institute
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“The market growth is driven by increasing demand for oil & gas, intensified competition, and greater financial investment in the industry. Additionally, the global rise in oil & gas exploration activities and prices is expected to fuel market expansion. Furthermore, the adoption of analytics-powered solutions enables industry players to gain valuable insights for making informed investment decisions,” noted Mr. Karan Chechi, Research Director at TechSci Research.
The report “United States Oil and Gas Analytics Market – By Service, Deployment Mode, Application, Region, Competition Forecast and Opportunities, 2028” evaluates the future growth prospects of the United States Oil and Gas Analytics Market, providing insights into market size, structure, and potential growth. The report aims to deliver cutting-edge market intelligence to aid decision-makers in making informed investment decisions. Additionally, it identifies and analyzes emerging trends, key drivers, challenges, and opportunities within the United States Oil and Gas Analytics Market.
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