Registering With 16.8% CAGR | The Oil and Gas Data Management Market Size Expected to Reach USD 142.4 Billion by 2033
Oil and Gas Data Management Market 2025
The increasing complexity of exploration and production (E&P) activities is a significant driver for the market.
WILMINGTON, DE, UNITED STATES, November 20, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, Registering With 16.8% CAGR | The Oil and Gas Data Management Market Size Expected to Reach USD 142.4 Billion by 2033. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
The global oil and gas data management market size was valued at $29.4 billion in 2023, and is projected to reach $142.4 billion by 2033, growing at a CAGR of 16.8% from 2024 to 2033.
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The oil and gas data management market size is segmented into technology, deployment mode, application, and region. By technology, it is divided into big data analytics, AI, and IoT. On the basis of deployment mode, the market is bifurcated into on-premise and cloud. By application, the market is divided into upstream, midstream, and downstream. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of type, the IT infrastructure segment dominated the oil and gas data management market in 2020, and is expected to continue this trend during the forecast period. This is attributed to oil and gas companies across the globe who focus on improving data management infrastructure, solutions, and services.
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North America dominates the oil and gas data management market. Growth of the market in this region is attributed to continued growth in oil and gas data management solutions expenditure across the U.S. and Canada along with the major adoption of oil and gas data management solutions in the type such data analytics, IT infrastructure, and services.
However, Asia-Pacific is expected to witness highest growth rate during the forecast period. Tremendous investments for oil and gas data management solutions among countries such as China, Japan, Thailand, India, and Indonesia fuel the growth of the oil and gas data management market size. In addition, change in oil and gas policies and rise in need for advanced analytics solutions and services among oil and gas companies operating in the Asia-Pacific region are projected to supplement the market growth during the forecast period.
This study includes market share, oil and gas data management market trends, oil and gas data management market analysis, and future estimations to determine the imminent investment pockets. Some of the key market players profiled in the report include Cisco Systems, Inc., EMC Corporation, Hewlett-Packard Enterprise Company, Hitachi Ltd., IBM Corporation, Infosys Limited, NetApp, Inc., Oracle Corporation, SAP SE, and Wipro Limited.
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Recent Partnerships in the Oil and Gas Data Management Market:
For instance, in October 2021, Patterson-UTI Energy, Inc. (PTEN), a provider of oil drilling and completion services, partnered with Corva, a software developer for oil and gas companies, for data analytics and visualization collaboration to equip oil and gas producers with the digital tools to drill and complete more productive and profitable wells while hitting lower emissions targets.
Recent Product Launches in the Oil and Gas Data Management Market:
For instance, in June 2021, Schlumberger and IBM launched the industry’s first commercial hybrid cloud Enterprise Data Management Solution for the OSDU Data Platform. The hybrid cloud offering is designed to expand access to customers globally including those in locations where data residency requirements and local regulations may affect the use of global public cloud and is engineered to reduce time for analysis and accelerate decision-making, with all workflow data available in one place.
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Key Findings of the Study
● By technology, the big data analytics segment accounted for the largest oil and gas data management market share in 2023.
● By deployment mode, the cloud segment accounted for the largest oil and gas data management market share in 2023.
● By application, the upstream segment accounted for the largest oil and gas data management market share in 2023.
● Region-wise, North America generated the highest revenue in 2023.
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Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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