The analysts forecast global smart oilfield IT services market to grow at a CAGR of 5.93% over the period 2014-2019. The report also includes a discussion on the key vendors operating in this market.
With the presence of volatile market conditions, global energy requirements are continuing to rise, creating challenging competitive environment for companies in the O&G sector. Forecasting and budgeting have become extremely difficult in the face of ongoing price volatility and many other uncertainties in the oil sector. The challenging environment has forced companies to look for innovative, upstream oil technologies. Furthermore, the volume and detail of data generated in exploration and production need to be put into better use so that the O&G companies can gain value from the same and act upon the insights generated by data produced during exploration and production.
Smart oilfield services comprise IT services, including IT consulting, business consulting, integrating services, and outsourcing services. The implementation of these services enables companies to increase production, improve recovery rates, and cut capital and operating expenses. In addition, the time-to-value also gets enhanced with the implementation of these services.
Covered in this Report
The global smart oilfield IT services market is segmented on the basis of geography.
The report, Global Smart Oilfield IT Services Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years.
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- Tata Consultancy Services
Other Prominent Vendors
- L&T Infotech
- Cost Reduction
- Security Concerns
- Big Data Analytics
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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