The oil and gas cloud applications market size is expected to grow from USD 3.33 billion in 2017 to USD 5.68 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period.
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Major slump in oil prices forcing companies to adopt cost-effective cloud solutions and the emergence of big data and advanced analytics are major factors driving the oil and gas cloud applications market.
However, increasing data security concerns and regulatory and compliance challenges are major restraints for the growth of oil and gas cloud applications market.
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Objectives of the Study
The main objective of this report is to define, describe, and forecast the global oil and gas cloud applications market on the basis of types of applications, major sectors, deployment models, organization size, and regions.
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The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market.
The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies.
The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
The research methodology used to estimate and forecast the market began with data collection through secondary research on key vendors. The sources referred for secondary research include journals and magazines, such as such as Rigzone, World Economic Forum, and OnePetro, to identify and collect information useful for the technical and market-oriented study.
The vendor offerings were taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the oil and gas cloud applications market from the revenue of key players in the market.
After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key personnel, such as Chief Marketing Officers (CMOs), and Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.
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Major vendors in the oil and gas cloud applications market include IBM (US), Oracle (US), SAP (Germany), Microsoft (US), SAS Institute (US), HPE (US), TIBCO (US),Tableau (US), Cisco (US), Seven Lake Technologies (US), PetroCloud (US), and WellEz (US).
Key Target Audience
- Consulting companies
- Investors and venture capitalists
- Value-Added Resellers (VARs)
- Large, medium-sized, and small enterprises
- Third-party providers
- Consultants/consultancies/advisory firms
- Professional service providers
- GRC solution vendors serving upstream, midstream, and downstream segments of the oil and gas industry
- SCM solution vendors serving upstream, midstream, and downstream segments of the oil and gas industry
- ECM solution vendors serving upstream, midstream, and downstream segments of the oil and gas industry
- ERP solution vendors serving upstream, midstream, and downstream segments of the oil and gas industry
- CRM solution vendors serving upstream, midstream, and downstream segments of the oil and gas industry
“Study answers several questions for the stakeholders, primarily which market segments to focus in the next 2–5 years for prioritizing the efforts and investments.”
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By Type of Application:
- Customer Relationship Management (CRM)
- Enterprise Content Management (ECM) And Collaboration
- Enterprise Resource Planning (ERP)
- Supply Chain Management (SCM)
- Human Capital Management (HCM)
- Data Analytics
- Project and Portfolio Management
- Governance, Risk, And Compliance (GRC)
By Major Sector:
By Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
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