The global oil and gas data management market is anticipated to grow at a considerable CAGR of 17.0% during the forecast period. Digital technologies such as cloud computing, analytics, artificial intelligence, and block chain-based data exchange enhance the capacity of oil and gas data management. They allow for more efficient sharing and analysis of data, leading to better insights and decision-making. For instance, in February 2020, Eni, an Italian multinational oil and gas company, unveiled its new supercomputing system called HPC5. It is the most powerful non-governmental supercomputer in globally, capable of 51.721 petaflops. The supercomputer has been designed to accelerate the development of innovative technologies for sustainable energy, allowing for faster and more accurate simulations, and data analysis.
Browse the full report description of “Oil and Gas Data Management Market Size, Share & Trends Analysis Report by Type (Data Analysis, and IT Infrastructure), by Component (Software and Services), by Deployment Model (On-premise and Cloud-based), and by Application (Upstream, Midstream, and Downstream) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/oil-and-gas-data-management-market
Furthermore, in the oil and gas industry, advanced analytics techniques such as machine learning (ML) and artificial intelligence (AI) are important. These technologies can help companies analyze large volumes of data and identify patterns that would be difficult for humans to uncover. This will improve efficiency, reduce risks, and save time. Various companies such as Yokogawa, Halliburton, Patterson-UTI Energy, and others in the oil and gas data management market are offering different strategies to anticipate market demand. These strategies include collaboration, cloud-based tools, AI and ML technology-based product launches, and others. For instance,
? In May 2023, Yokogawa launched a new software called Gas Chromatograph AI Maintenance Support (GCAI) that increases maintenance efficiency for the GC8000 process gas analyzer. GCAI is a data monitoring software that uses AI to continuously monitor the GC8000 and read changes in the measurement data.
? In February 2023, Halliburton and Siguler Guff launched emissions management software for oil and gas industry. Software, called Envana, is a digital emissions management solution that provides a more accurate picture of emissions and gives companies actionable information to manage and reduce their total carbon footprint.
? In October 2021, Patterson-UTI Energy announced a collaboration with Corva, an analytics company, to implement the cloud-based data management tools required to drill and complete more profitable and productive wells while reducing emissions.
Market Coverage
• The market number available for – 2023-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Type
o By Industry Component
o By Deployment Model
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes as Baker Hughes Co., Schlumberger Ltd., Halliburton Co., Emerson Electric co., IBM Corp. and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Oil and Gas Data Management Market Report Segment
By Type
By Component
By Deployment Model
By Application
Global Oil and Gas Data Management Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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