Data management incorporates a set of new generation technologies and architectures that are specially designed to extract crucial information from a large volume of structured or unstructured data by enabling high-velocity capture and analysis.
The adoption of data management in the emerging markets, including Brazil, The Cooperation Council (GCC) countries, and African countries is at its nascent stage, unlike that in the developed markets such as North America and Europe. However, the potential impact of enhanced analytics solutions and services on business activities has increased in the region.
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Oil and Gas Data Management Market Report published by Allied Market Research, states that the global market was valued at $1,092 million in 2015 and is projected to reach $3,203 million by 2022, growing at a CAGR of 16.2% from 2016 to 2022.
Increase in popularity of real-time analysis and predictive analytics solutions, operational efficiency and performance improvement, and increased awareness among end users are projected to drive the adoption of oil and gas data management technologies and services growth during the forecast period.
Furthermore, the data analysis segment is projected to expand at the highest CAGR of around 18%, owing to the increase in demand for monitoring real-time asset performance, maintaining consistent production, and reducing non-productive time (NPT).
Key Growth Drivers:
- Operational efficiency and performance improvement
- Increase in popularity of real-time analysis and predictive analytics solutions
- Increased awareness among end users
- Adoption of cloud-based solutions and services
- Target untapped and emerging markets
- Introduction of enhanced solutions
- The study provides an in-depth analysis of the oil and gas data management technologies and services along with current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities along with their impact analysis on the oil and gas data management market is provided in the report.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global oil and gas data management market from 2014 to 2022 is provided in the report to determine the market potential.
Some of the key players operating in the oil and gas data management industry include Cisco Systems, Inc., EMC Corporation, Hewlett Packard Enterprise Company, Hitachi, Ltd., IBM Corporation, Infosys Limited, NetApp, Inc., Oracle Corporation, SAP SE, and Wipro Limited.
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