Product ID: UCMIG10B2036
Report ID:
UCMIG10B2036 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market size of Midstream Oil & Gas Analytics reached USD 1.2 billion in 2022 and is anticipated to exhibit a compound annual growth rate (CAGR) of 25.1% until 2032. The oil and gas industry has experienced a substantial digital transformation, placing a significant emphasis on the value derived from analytics. Advanced analytic solutions have emerged as potent tools, offering various advantages such as cost savings, heightened workforce efficiency, streamlined operations, and improved decision-making capabilities. To harness these advantages, organizations are making substantial investments in big data platforms, Internet of Things (IoT) devices, and sensors to generate extensive datasets requiring thorough analysis for valuable insights. The global oil & gas analytics market is poised to experience a CAGR of 23.8% over the forecast period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Oil & Gas Equipment & Services by segment aggregation, the contribution of the Oil & Gas Equipment & Services in Energy Service and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG10B2036