The report of Global Oil and Gas Cloud Applications Market by type (solution and service), deployment (private cloud and public cloud), operation (upstream, midstream and downstream), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 10.80 Bn by 2027, at a CAGR of 14.44 % during a forecast period.
The enterprise asset management segment is expected to grow at a XX% CAGR during the forecast period.
By component, the oil and gas cloud applications market is segmented by solution and service. The solution is sub segmented into enterprise asset management (EAM), enterprise applications, environmental, health and safety (ehs), security and others (simulation and modeling, and operational analytics). Among these, enterprise asset management (EAM) is expected to contribute significant share in the market. With the right EAM solution, oil and gas key players are focusing on their assets operating and reduce energy usage, which helps to increase their efficiency and proactively identify problems.
Europe region is expected to contribute significant share in the global oil and gas cloud applications market.
By region, the global market is segmented into North America, Europe, Middle East & Africa, South America, and Asia Pacific. Among these, Europe is expected to grow at a XX% rate of CAGR during the forecast period. The region is dominating the applications market because of it is the fourth-largest producer of oil and gas and is already on its way to digital transformation. The availability of oil and gas reserves in the Norwegian belt and North Sea areas are expected to increase the adoption of the cloud computing technology to achieve cost and operational efficiencies.
Key players operating in the Global Oil and Gas Cloud Applications Market includes IBM, Oracle, Microsoft, SAP, Salesforce, Aspentech, Dassault Systèmes, Workday, ABB, IFS, Risk Edge Solutions, Seven Lakes Technologies, Bentley Systems, Aucerna, TIBCO, Petrode and Sage Software Solutions.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Oil and Gas Cloud Applications Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Oil and Gas Cloud Applications Market positioning of competitors.
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