Oil And Gas Cloud Applications Market Growth Analysis with Investment Opportunities For 2024-2033
The Business Research Company
Oil And Gas Cloud Applications Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 4, 2024 /EINPresswire.com/ -- The oil and gas cloud applications market3 has experienced robust growth in recent years, expanding from $6.84 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to operational efficiency, regulatory compliance, disaster recovery & security, legacy system modernization, remote asset management.
What Is The Estimated Market Size Of The Global Oil And Gas Cloud Applications Market And Its Annual Growth Rate?
The oil and gas cloud applications market is projected to continue its strong growth, reaching $12.9 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to demand for real-time insights, energy transition initiatives, geopolitical factors, emerging market growth, focus on sustainability.
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Growth Driver Of The Oil And Gas Cloud Applications Market
The increasing demand for oil and gas is expected to propel the growth of the oil and gas cloud application market going forward. Oil and gas demand refers to the amount of oil and gas required by various industries and consumers for their energy needs, and it plays a critical role in meeting the energy needs of various sectors, including transportation, manufacturing, and power generation. Oil and gas cloud applications play a significant role in the oil and gas industry by providing efficient and cost-effective solutions for managing operations, storing and analyzing complex data sets, and automating many operational processes.
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Which Market Players Are Steering The Oil And Gas Cloud Applications Market Growth?
Key players in the market include Capgemini S.A., Citrix Systems Inc., TIBCO Software Inc., Cisco Systems Inc., Oracle Corporation, Tableau Software, Salesforce Inc., Dassault Systèmes SE, Asea Brown Boveri Ltd., Infor, Bentley Systems, PetroDE, The Hewlett Packard Enterprise, International Business Machines Corporation, Seven Lakes Technologies, HCL Technologies Limited, WellEz Information Management LLC, PetroCloud LLC, Microsoft Corp., SAP SE, Alibaba Group Holding Limited, Alphabet Inc., Amazon.com Inc., Cloud Software, Accenture, Conseillers en Gestion et Informatique Inc., Cognizant, DXC Technology, Infosys Limited, Larsen & Toubro Infotech Limited.
What Are The Key Trends That Influence Oil And Gas Cloud Applications Market Size?
Major companies operating in the oil and gas cloud applications market are focused on adopting strategic partnerships to accelerate data-led digital transformation goals and drive their revenues in the market. Such partnerships intend to accomplish the goal of digitalizing the full lifecycle of companies’ operations to cut costs, improve productivity, and lower their carbon footprint.
How Is The Global Oil And Gas Cloud Applications Market Segmented?
1) By Component: Solutions, Services
2) By Operation: Upstream, Midstream, Downstream
3) By Deployment Model: Hybrid, Private, Public
Geographical Insights: North America Leading The Oil And Gas Cloud Applications Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Oil And Gas Cloud Applications Market Definition
Oil and gas cloud applications are software solutions provided by cloud-based service providers especially for the oil and gas sector. These companies can use cloud applications to quickly and cheaply evaluate enormous amounts of data in real-time and lessen any future unanticipated failures.
Oil And Gas Cloud Applications Global Market Report 20242 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global oil and gas cloud applications market report covering trends, opportunities, strategies, and more
The Oil And Gas Cloud Applications Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oil and gas cloud applications market size, oil and gas cloud applications market drivers and trends and oil and gas cloud applications market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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