Report Title: “Global Oil & Gas Mobility Market Size, Share – Segmented by Oil & Gas Sector, Application and Geography – Growth, Trends, and Forecast (2018 – 2023)”
Global “Oil & Gas Mobility Market” (2018 – 2023) Report Provides Overall study of Approximate CAGR, Leading Manufacturers, Key Development, Market Dynamics and SWOT analysis for Key Players. The Oil & Gas Mobility market is expected to register a CAGR of approximately XX% during the forecast period of (2018 – 2023)
Oil & Gas Mobility Market Report Covers Leading Manufacturers: Accenture Plc-Infosys Ltd.-Microsoft Corporation-Oracle Corporation-Hewlett Packard Enterprise Co-IBM Corporation Company-Wipro Ltd.-SAP SE
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The combination of offline access, high-volume data, and complex business files or data processing is a growing challenge in the oil & gas industry. Developing an enterprise mobility strategy can procure significant value in renovating the oil and gas business. It can reduce the time spent on mundane tasks and upsurge the overall productivity in the industry. Enterprise mobility solutions can lead to superior strategic achievements, enhanced recovery, and improved cost savings. Increasing usage of smartphones across the globe and developments of oil & gas specific mobile applications by various software giants are enabling is expected to solve the efficiency problems of oil & gas companies in coming years. In the upstream business, oil & gas companies can relish the ability to make better and quick decisions while far away from the fields. This results in significant savings and uninterrupted growth and development. Apart from this, various midstream companies can focus on optimizing and maintaining their networks through oil and gas mobility. Enhancing efficiency, safety drills, and logistics are other benefits to indulge into. Including the above benefits, downstream organizations can specifically augment their ability to visualize data. It helps them extend their value beyond the oil and gas refineries by real-time optimization of varied processes. Further, in order to continue surviving and thriving in the uncertainty environment, oil & gas producers are now transforming their operating and business models with urgency to reduce production costs by improving production efficiency in existing and new oil fields. Furthermore, as existing reserves continue to deplete, production optimization has become one of the most important areas to look after. The emergence of various oilfield mobile applications has the potential to counter the above challenges in the oil & gas industry. Therefore, need for production optimization and resurgence in oil & gas industry is expected to propel the growth of oil & gas mobility market over the coming years.
Need for production optimization – Driving the Oil & Gas Mobility Market
Since 2015, low oil prices have forced many oil & gas companies to work their respective assets harder in order to maximize oil and gas output, without necessarily developing new capital projects. Such a difficult business environment is highlighting the importance of implementing smart strategies and innovation such as mobility solutions to continuously maintain or increase oil & gas production. Various existing oil & gas fields across the globe are depleting and has raised concerns among the oil & gas companies regarding the optimum production. Various oilfield service providers are developing software to tackle the lower production by oilfields. In early 2018, Weatherford International released a new software for its ForeSite production optimization platform, which combines physics-based models with advanced machine-learning data analytics to improve performance across conventional and unconventional oil and gas assets. The software integrates with the CygNet SCADA platform to create an end-to-end production optimization solution. Hence, increasing need for production optimization is considered to be one of the major drivers for the oil & gas mobility market.ability to visualize data. It helps them extend their value beyond the oil and gas refineries by real-time optimization of varied processes. Further, in order to continue surviving and thriving in the uncertainty environment, oil & gas producers are now transforming their operating and business models with urgency to reduce production costs by improving production efficiency in existing and new oil fields. Furthermore, as existing reserves continue to deplete, production optimization has become one of the most important areas to look after. The emergence of various oilfield mobile applications has the potential to counter the above challenges in the oil & gas industry. Therefore, need for production optimization and resurgence in oil & gas industry is expected to propel the growth of oil & gas mobility market over the coming years.
North America – Largest oil & gas mobility market at regional level
Drilling activities in North America have been increasing amidst rising oil & gas prices. The North American rig count reached 1118 in the first week of May 2018. The US accounted for 1032 rigs while Canada and Gulf of Mexico had 86 rigs and 19 rigs operating respectively. The figure was up by 114 from the 974 rig counts recorded in the first week of May 2017. This surge in drilling activities has created optimism in the North American Oil & gas market. North America is the region which has benefited the most from the shale business in past few years. Further, the shift from vertical to horizontal wells is the most important change to occur over the last decade in the region, allowing for greater formation access, while only incrementally increasing the cost of the well. Within a few years, North American nonconventional production has also exploded and has raised demand for data management obtained in huge numbers at production sites. With rising shale developments in the region, the amount of data produced from oilfields are only expected to rise and if properly managed, may prove to be a significant cost optimizer for the shale industry in the region.
US Set to Maintain High Demand in Oil & Gas Mobility Market
The total oil production in the US reached 6837000 bbl per day in April 2018, while the gas production touched 65,829 million cft per day. Moreover, the US rig count reached 1032 in the first week of May 2018 from 665 in the first week of January 2017. Hence, the oil & gas mobility platforms are extremely relevant for the highly competitive US shale market which has an abundance of drilled and producing well data. US companies are partnering software giants to digitalize their oilfields. For instance, in 2017, Chevron Corporation entered into a seven-year partnership with Microsoft Corp. establishing the company as Chevron’s primary cloud provider, accelerating the application of advanced technologies including analytics and the Internet of Things (IoT) to drive performance and improve efficiencies.
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Reasons to Purchase Oil & Gas Mobility Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months analyst support along with the Market Estimate sheet (in excel).
- This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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