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About this market
Health, safety, and environmental concerns in the oil and gas sector are one of the key factors that will trigger the growth of the market in the oil and gas sector during the forecast period. The presence of government regulations related to environmental protection, workers protection, cultural protection, and public health and safety is enforcing the companies in the oil and gas sector to take effective measures. Therefore, vendors in the market are opting big data solutions, as it helps enterprises to tackle this challenge efficiently. The need to safeguard the health and safety of the workforce and address environmental concerns will increase the adoption of big data solutions in the oil and gas sector. analysts have predicted that the big data market in the oil and gas sector will register a CAGR of over 15% by 2023.
Market Overview
Exploration of oil and gas
Vendors in the global big data market in the oil and gas sector offer different solutions to help enterprises make precise and well-informed oil and gas explorations. The solution is designed to reduce cost by improving modeling for exploration and analyzing drilling and completion operations data for real-time optimization.
Lack of professional expertise
The oil and gas sectors are currently facing a shortage of data scientists who possess both the industry knowledge and technical skills. Such a shortage is a challenge for the growth of the global big data market in the oil and gas sector.
For the detailed list of factors that will drive and challenge the growth of the big data market in the oil and gas sector during 2019-2023, view our report.
Competitive Landscape
The market in the oil and gas sector appears to be fragmented and with the presence of several companies including GENERAL ELECTRIC and IBM Corp., the competitive environment is quite intense. Vendors and enterprises in the global big data market in the oil and gas sector had made significant efforts to harness the power of blockchain in the oil and gas sector. Oracle Corp., SAP SE, and Teradata Corp. are some of the major companies covered in this report.
Health, safety, and environmental concerns in the oil and gas sector are one of the key factors that will trigger the growth of the market in the oil and gas sector during the forecast period. The presence of government regulations related to environmental protection, workers protection, cultural protection, and public health and safety is enforcing the companies in the oil and gas sector to take effective measures. Therefore, vendors in the market are opting big data solutions, as it helps enterprises to tackle this challenge efficiently. The need to safeguard the health and safety of the workforce and address environmental concerns will increase the adoption of big data solutions in the oil and gas sector. analysts have predicted that the big data market in the oil and gas sector will register a CAGR of over 15% by 2023.
Market Overview
Exploration of oil and gas
Vendors in the global big data market in the oil and gas sector offer different solutions to help enterprises make precise and well-informed oil and gas explorations. The solution is designed to reduce cost by improving modeling for exploration and analyzing drilling and completion operations data for real-time optimization.
Lack of professional expertise
The oil and gas sectors are currently facing a shortage of data scientists who possess both the industry knowledge and technical skills. Such a shortage is a challenge for the growth of the global big data market in the oil and gas sector.
For the detailed list of factors that will drive and challenge the growth of the big data market in the oil and gas sector during 2019-2023, view our report.
Competitive Landscape
The market in the oil and gas sector appears to be fragmented and with the presence of several companies including GENERAL ELECTRIC and IBM Corp., the competitive environment is quite intense. Vendors and enterprises in the global big data market in the oil and gas sector had made significant efforts to harness the power of blockchain in the oil and gas sector. Oracle Corp., SAP SE, and Teradata Corp. are some of the major companies covered in this report.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
