Energia
Oil and Gas Cloud Applications Market Worth $9.4 Billion by 2024 - Exclusive Report by MarketsandMarkets™
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The Oil and Gas Cloud Applications Market is segmented by operation into upstream, midstream, and downstream. The upstream sector is working hard to leverage big data to gain significant insights from the surge of structured and unstructured data. Hence, the upstream sector is moving toward cloud adoption at a rapid pace for achieving cost efficiency and increasing time-to-market.
The Oil and Gas Cloud Applications Market by service is segmented into consulting and implementation services, and training, support, and maintenance services. The training, support, and maintenance services segment is expected to grow at a rapid pace during the forecast period, as it helps oil and gas companies choose the most suitable cloud-based solutions, depending on the requirements of their businesses and end users. Consulting services assist clients in maximizing their Return on Investment (RoI) by investing in suitable AI technologies.
Europe is dominating the Oil and Gas Cloud Applications Market, as it is the fourth-largest producer of oil and gas and is already on its way to digital transformation. The oil and gas cloud applications industry in Europe is expected to witness high growth, owing to the presence of major vendors. These vendors either have a direct presence through corporate offices and Research and Development (R&D) centers or an indirect presence through sales and distribution channel partners.
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Major vendors in the global include Microsoft (US), IBM (US), SAP ( Germany ), Oracle (US), Salesforce (US), AspenTech (US), Dassault Systèmes ( France ), Workday (US), ABB ( Switzerland ), IFS ( Sweden ), Infor (US), RiskEdge Solutions ( India ), Seven Lakes Solutions (US), Bentley Systems (US), Aucerna ( Canada ), TIBCO (US), PetroDE (US), Sage Software Solutions ( India ), HPE (US), and Quorum Software (US).
by Type (Analytics, CRM, Finance and Accounting, Content management, Collaboration, eCommerce, HCM, ERP, PPM, Procurement and Distribution, Legal and Risk Management, Other Applications) – Global Forecast to 2019
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