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May 11, 2022, 08:00 ET
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NEW YORK, May 11, 2022 /PRNewswire/ — As per a study by Persistence Market Research, from US$ 40.3 billion in 2022 to US$ 161.6 billion in 2032, the global Oil and Gas Data Monetization Market is predicted to grow at a 14.9% CAGR from 2022 to 2032. The implementation of Industry 4.0 has paved the road to a new era of competitiveness which further is driving the demand for oil and gas data monetization market. This implementation is playing a vital role in helping oil and gas companies to tackle the challenging landscape of the industry and helps them in improving their operational and maintenance needs.
In addition, the recent advent of the technological advancements in Big Data and analytics is one of the key factors driving the growth of oil and gas data monetization market during the forecast period. Moreover, the adoption of IoT solutions built around the applications such as factory optimization, predictive maintenance, and supply chain automation is creating potential growth opportunities for the oil and gas data monetization market.
The increase in the number of oil and gas companies across the globe acts as one of the major factors driving the growth of oil and gas data monetization market. The increase in the adoption of the big data technologies to collect, manage, and increase new insights, and increase in demand for data monetization technologies that can assist key players in optimizing their business operations, and improving their competitive edge accelerate the market growth.
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Major players such as Halliburton, Schlumberger Limited, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, IBM Corporation, EMC Corporation, Microsoft Corporation, Tata Consultancy Services Ltd., Datawatch, Drilling info, Hitachi Vantara Corporation, Hortonworks, Inc., Capgemini SE, Newgen Software, Inc., Cloudera, Inc., Cisco Software, Inc., SAS Institute, Inc., MapR Technologies, Inc., Palantir Solutions, OSIsoft LLC, Infosys Limited, and NETSCOUT, among others are expected to dominate the market share in terms of revenue.
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Find More Valuable Insights on Oil and Gas Data Monetization Market
Persistence Market Research (PMR) published a detailed study on the oil and gas data monetization market, which includes global industry analysis for 2015-2021 and forecasts for 2022-2032. The report provides an insightful analysis of the market concentration across five different regions, through three different segments – method, component, application, E&P lifecycle, and oil companies. The report titled – ‘Oil and Gas Data Monetization’ deliberates current installed base, product usage in various applications from domestic to industrial, as well as prevailing trends and technologies. Along with this, detailed value chain analysis pertaining procurement and aftermarket services has been presented in the report.
About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
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SOURCE Persistence Market Research Pvt. Ltd.
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