Cloud applications in oil and gas industry are expected to grow from $2.7 billion to $5.1 billion with a CAGR of 13.6% for the forecast period.
Oil and gas cloud applications market is growing at a rapid rate and is being pushed by various growth drivers such as the need for optimizing industry operations, cost optimization and the need for reducing the complexities of this process-oriented industry in small-medium sized organizations as well as in the large enterprises. The market has been forecasted to provide numerous opportunities such as the need for maintaining demand-supply balance, acquiring high end IT capabilities for more efficient data management, increasing trend of mobile computing, and growing partnerships. However, the market is going to be hampered by few restraints like lack of knowledge and increasing data security concerns.
A few challenges which are being faced by the business organizations working in this industry include the disaster recovery management solutions. As the oilfields are mostly located in remote areas, the businesses are looking for the solutions which would let them manage the huge data loss that occurs in the event of a natural or human-made disaster. Another obstacle which is hindering the growth of this market is the stringent government rules and regulations.
Globally, the regions like North America and Europe have shown the maximum revenue in oil and gas cloud applications market. However, regions like Asia-Pacific, Middle East and Africa and Latin America are the faster growing regions. The scalability and flexibility of cloud based solutions in oil and gas industry in order to meet the competitive landscape of the market; the vendors are continuously deploying these cloud-based solutions for various processes in this industry.
Further, in the oil and gas cloud applications market, the cloud-based solutions are deployed in three kinds of models i.e. Private Cloud, Public Cloud and Hybrid Cloud which are covered in this report.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Well Completion Equipment & Services Market, By Type
8 Well Completion Equipment & Services Market, By Application
9 Well Completion Equipment & Services Market, By Region
10 Well Completion Equipment & Services Market: Buying Behavior Analysis
11 Competitive Landscape
12 Company Profiles
– Baker Hughes Incorporated
– FTS International.
– NCS Multistage
– Nabors Industries Ltd.
– National Oilwell Varco
– Nine Energy Services Inc.
– Packers Plus Energy Services Inc.
– RPC Inc.
– Schlumberger Ltd.
– Superior Energy Services Inc.
– Trican Well Service Ltd.
– Weatherford International
– Welltec As
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