Oil and Gas Cloud Application Market Size, Trends and Insights By Component (Solutions, Enterprise Asset Management (EAM), Enterprise Applications, Environmental, Health and Safety (EHS), Security, Others, Services, Consulting and Implementation, Training, Support and Maintenance), By Operation (Upstream, Midstream, Downstream), By Deployment Type (Private, Public), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI40371

Published Date: February 2024

Pages: 320+

Category: Technology

Report Snapshot

CAGR: 15.1%
7.9B
2022
9B
2023
21.5B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Oracle Corporation
  • Microsoft Corporation
  • Tableau Software
  • SAP SE
  • Capgemini S.A.
  • Accenture PLC
  • Others

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Reports Description

Global Oil and Gas Cloud Application Market was valued at USD 9 Billion in 2023 and is expected to reach USD 21.5 Billion by 2032, at a CAGR of 15.1% during the forecast period 2023 – 2032.

Oil and gas cloud applications refer to software solutions and services that are specifically designed and deployed in cloud computing environments to address the needs and challenges of the oil and gas industry.

Cloud computing enables remote monitoring and control of oil and gas assets, including wells, pipelines, and refineries. This can help improve oil and gas efficiency by reducing the need for manual intervention and enabling companies to monitor and optimize operations in real time.

Oil and Gas Cloud Application Market – Significant Growth Factors

Growing demand for data management and analytics from the oil & gas industry

The growing demand for data management and analytics is a key driver for the adoption of oil and gas cloud applications. With the industry generating vast volumes of data, cloud solutions offer scalable, cost-effective platforms for storing, processing, and analysing this information.

Cloud applications leverage advanced analytics and machine learning, enabling companies to extract actionable insights from their data. This capability enhances operational efficiency, facilitates predictive maintenance, and optimizes production processes, ultimately meeting the industry’s increasing need for data-driven decision-making and providing a competitive edge in the dynamic oil and gas landscape.

For instance, in September 2023, article published by AVEVA Data Hub, in today’s rapidly evolving oil and gas industry, companies grapple with significant challenges stemming from market fluctuations, geopolitical influences, and economic uncertainties.

In response to these complexities, a powerful solution has emerged: sharing industrial data through a connected ecosystem. This has led to an unprecedented surge in data generation. To streamline this data and enhance decision-making, industry-wide initiatives such as the Open Subsurface Data Universe (OSDU) and the Pipeline Open Data Standard (PODS) have gained momentum.

Cloud applications facilitate remote monitoring and control of oil and gas facilities

The growing demand for data management and analytics is a key driver for the adoption of oil and gas cloud applications. With the industry generating vast volumes of data, cloud solutions offer scalable, cost-effective platforms for storing, processing, and analysing this information.

Cloud applications leverage advanced analytics and machine learning, enabling companies to extract actionable insights from their data. This capability enhances operational efficiency, facilitates predictive maintenance, and optimizes production processes, ultimately meeting the industry’s increasing need for data-driven decision-making and providing a competitive edge in the dynamic oil and gas landscape.

For instance, in August 2022, an article published by Offshore Technology, cloud computing within the filings of companies in the oil and gas industry rose 50% between the first and second quarters of 2022. In total, the frequency of sentences related to cloud computing between July 2021 and June 2022 was 175% higher than in 2016.

Oil and Gas Cloud Application Market – Restraints

Data privacy and security concerns pose significant obstacles

Data privacy and security concerns pose significant obstacles to the growth of oil and gas cloud applications. The industry deals with sensitive information, including proprietary technologies, exploration data, and production strategies.

The potential risks associated with storing such critical data in the cloud, including unauthorized access, data breaches, and cyber threats, make companies hesitant to fully embrace cloud solutions. Regulatory compliance, particularly in regions with stringent data protection laws, adds complexity to cloud adoption.

The fear of compromising intellectual property, trade secrets, or falling victim to cyberattacks limits the willingness of oil and gas companies to migrate operations to the cloud.

Addressing these concerns requires robust encryption, authentication measures, and compliance frameworks, making it crucial for cloud service providers to demonstrate and continually enhance their security protocols to build trust and encourage wider adoption in the oil and gas sector.

Stringent rules for approval of Oil and Gas Cloud Application

The approval of Oil and Gas Cloud Applications is subject to stringent rules and regulations to ensure the security, privacy, and reliability of critical data within the industry. Several key considerations and rules typically govern the approval process:

  • Data Protection and Privacy Compliance: Cloud applications must comply with data protection laws and regulations to safeguard sensitive information. Compliance with standards such as GDPR, HIPAA, or industry-specific regulations is crucial to ensure the privacy and confidentiality of data.
  • Regulatory Compliance: Approval processes often involve demonstrating compliance with regulatory requirements specific to the oil and gas sector. This includes adherence to standards set by organizations such as the American Petroleum Institute (API) or regional regulatory bodies overseeing energy operations.
  • Service Level Agreements: Clear and comprehensive SLAs between the cloud service provider and the oil and gas company are essential. These agreements outline performance expectations, security measures, and responsibilities, ensuring a transparent and accountable relationship.

Global Oil and Gas Cloud Application Market 2023–2032 (By Deployment Type)

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Oil and Gas Cloud Application Market – Opportunities

Integration of digitalization and the Internet of Things

The integration of digitalization and the Internet of Things (IoT) is a driving force behind the growth of the oil and gas cloud application market. Digitalization involves the transformation of traditional processes into data-driven, automated, and interconnected systems.

The implementation of IoT devices, such as sensors and actuators, throughout the oil and gas value chain, generates vast amounts of real-time data. Cloud applications serve as the ideal platform to manage, process, and analyze this data efficiently and at scale.

This integration enables predictive maintenance, remote monitoring, and optimization of operations, enhancing asset performance and overall productivity. Cloud applications provide the agility and scalability required to accommodate the diverse data streams from IoT devices, facilitating advanced analytics and decision-making.

Oil and Gas Cloud Application Market – Segmentation Analysis

The oil and Gas Cloud Application market is segmented by component, operation, deployment type and region.  Based on components, the market is classified into solutions and services. Solutions dominated the market in 2022 with a market share of 68% and is expected to keep its dominance during the forecast period 2024-2032.

The solutions segment consists of enterprise asset management (EAM), enterprise applications, environmental, health and safety (EHS), security and others. Enterprise Asset Management (EAM) solutions play a pivotal role in driving the oil and gas cloud application market.

These cloud-based applications enhance efficiency in managing and maintaining critical assets such as drilling equipment, pipelines, and production facilities. Cloud-based EAM solutions offer real-time visibility into asset performance, enabling predictive maintenance, reducing downtime, and optimizing operational workflows.

Based on operation, the market is classified into upstream, midstream, and downstream. The upstream segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032.

Upstream operations play a pivotal role in driving the growth of the oil and gas cloud application market. In the upstream sector, which encompasses exploration, drilling, and production, there is a substantial need for advanced data management, analytics, and collaboration tools.

Cloud applications offer scalable and cost-effective solutions to handle vast amounts of exploration and production data efficiently. They enable real-time monitoring of drilling operations, reservoir management, and equipment health, enhancing decision-making processes.

Cloud applications also facilitate seamless collaboration among geographically dispersed teams, contractors, and partners, improving overall operational efficiency.

Based on deployment type, the market is classified into private and public. The public segment dominated the market in 2022 with a market share of 70% and is expected to keep its dominance during the forecast period 2024-2032. The adoption of public cloud services significantly drives the growth of the oil and gas cloud application market.

Public Cloud offers a scalable, cost-effective, and flexible infrastructure, enabling oil and gas companies to manage and analyse vast amounts of data, conduct complex simulations, and enhance collaboration. Public Cloud providers invest heavily in advanced security measures and compliance certifications, addressing industry concerns about data protection.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 9 Billion
Projected Market Size in 2032 USD 21.5 Billion
Market Size in 2022 USD 7.9 Billion
CAGR Growth Rate 15.1% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Component, Operation, Deployment Type and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Oil and Gas Cloud Application Market – Regional Insight

By region, oil and gas cloud application market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Europe dominated the global market in 2022 with a market share of 40% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

Europe drives the oil and gas cloud application market through a combination of factors that prioritize efficiency, sustainability, and technological innovation. Stringent environmental regulations and a commitment to reducing carbon emissions incentivize the industry to adopt cloud applications for streamlined operations and optimized resource utilization.

European countries, recognizing the potential of digital technologies, actively encourage the deployment of cloud solutions to enhance data management, analytics, and collaboration in the oil and gas sector. Additionally, the region’s emphasis on energy security and diversification compels companies to invest in advanced technologies, making cloud applications a strategic choice.

Government initiatives, such as the European Green Deal, further promote the digitalization of energy processes, making cloud solutions integral to achieving sustainability goals. Europe’s forward-looking approach and regulatory frameworks position it as a driving force in shaping the future of the oil and gas industry through the widespread adoption of cloud applications.

Global Oil and Gas Cloud Application Market 2023–2032 (By Billion)

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Oil and Gas Cloud Application Market – Recent Developments

  • In November 2019, ExxonMobil is partnering with Microsoft to improve its analyses and enhance operational efficiencies at its Permian Basin acreage, making it the largest-ever oil and gas acreage to use cloud technology. The partnership includes an integrated cloud environment that securely and reliably collects real-time data from oil field assets spanning hundreds of miles.
  • In October 2021, ABB and Enovate Upstream signed a memorandum of understanding to apply their complimentary digital platforms, ABB Ability™ Wellhead Manager and Enovate Upstream’s Digital Production™, to create a fully automated and scalable, digital oilfield solution.
  • In May 2023, Dassault Systèmes and Envision Digital announced their partnership to optimise the performance of sustainable energy solutions, at an international business summit.

List of the prominent players in the Oil and Gas Cloud Application Market:

  • Oracle Corporation
  • Microsoft Corporation
  • Tableau Software
  • SAP SE
  • Capgemini S.A.
  • Accenture PLC
  • Citrix Systems
  • Hewlett-Packard Company
  • Cisco Systems Inc.
  • IBM Corporation
  • Salesforce
  • Dassault Systèmes
  • ABB
  • IFS
  • RiskEdge Solutions
  • Seven Lakes Technologies
  • Bentley Systems
  • Aucerna
  • TIBCO
  • PetroDE
  • Sage Software Solutions
  • HPE
  • Quorum Software
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

Global Oil and Gas Cloud Application Market 2023–2032 (By Operation)

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The Oil and Gas Cloud Application Market is segmented as follows:

By Component

  • Solutions
  • Enterprise Asset Management (EAM)
  • Enterprise Applications
  • Environmental, Health and Safety (EHS)
  • Security
  • Others
  • Services
  • Consulting and Implementation
  • Training, Support and Maintenance

By Operation

  • Upstream
  • Midstream
  • Downstream

By Deployment Type

  • Private
  • Public

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Oil and Gas Cloud Application Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Oil and Gas Cloud Application Market: snapshot
  • Chapter 3. Global Oil and Gas Cloud Application Market – Industry Analysis
    • 3.1 Oil and Gas Cloud Application Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing demand for data management and analytics from the oil & gas industry
      • 3.2.2 Cloud applications facilitate remote monitoring and control of oil and gas facilities
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Component
      • 3.7.2 Market Attractiveness Analysis By Operation
      • 3.7.3 Market Attractiveness Analysis By Deployment Type
  • Chapter 4. Global Oil and Gas Cloud Application Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Oil and Gas Cloud Application Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Oil and Gas Cloud Application Market – Component Analysis
    • 5.1 Global Oil and Gas Cloud Application Market Overview: By Component
      • 5.1.1 Global Oil and Gas Cloud Application Market Share, By Component, 2022 and 2032
    • 5.2 Solutions
      • 5.2.1 Global Oil and Gas Cloud Application Market by Solutions, 2023 – 2032 (USD Billion)
    • 5.3 Enterprise Asset Management (EAM)
      • 5.3.1 Global Oil and Gas Cloud Application Market by Enterprise Asset Management (EAM), 2023 – 2032 (USD Billion)
    • 5.4 Enterprise Applications
      • 5.4.1 Global Oil and Gas Cloud Application Market by Enterprise Applications, 2023 – 2032 (USD Billion)
    • 5.5 Environmental, Health and Safety (EHS)
      • 5.5.1 Global Oil and Gas Cloud Application Market by Environmental, Health and Safety (EHS), 2023 – 2032 (USD Billion)
    • 5.6 Security
      • 5.6.1 Global Oil and Gas Cloud Application Market by Security, 2023 – 2032 (USD Billion)
    • 5.7 Others
      • 5.7.1 Global Oil and Gas Cloud Application Market by Others, 2023 – 2032 (USD Billion)
    • 5.8 Services
      • 5.8.1 Global Oil and Gas Cloud Application Market by Services, 2023 – 2032 (USD Billion)
    • 5.9 Consulting and Implementation
      • 5.9.1 Global Oil and Gas Cloud Application Market by Consulting and Implementation, 2023 – 2032 (USD Billion)
    • 5.10 Training, Support and Maintenance
      • 5.10.1 Global Oil and Gas Cloud Application Market by Training, Support and Maintenance, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Oil and Gas Cloud Application Market – Operation Analysis
    • 6.1 Global Oil and Gas Cloud Application Market Overview: By Operation
      • 6.1.1 Global Oil and Gas Cloud Application Market Share, By Operation, 2022 and 2032
    • 6.2 Upstream
      • 6.2.1 Global Oil and Gas Cloud Application Market by Upstream, 2023 – 2032 (USD Billion)
    • 6.3 Midstream
      • 6.3.1 Global Oil and Gas Cloud Application Market by Midstream, 2023 – 2032 (USD Billion)
    • 6.4 Downstream
      • 6.4.1 Global Oil and Gas Cloud Application Market by Downstream, 2023 – 2032 (USD Billion)
  • Chapter 7. Global Oil and Gas Cloud Application Market – Deployment Type Analysis
    • 7.1 Global Oil and Gas Cloud Application Market Overview: By Deployment Type
      • 7.1.1 Global Oil and Gas Cloud Application Market Share, By Deployment Type, 2022 and 2032
    • 7.2 Private
      • 7.2.1 Global Oil and Gas Cloud Application Market by Private, 2023 – 2032 (USD Billion)
    • 7.3 Public
      • 7.3.1 Global Oil and Gas Cloud Application Market by Public, 2023 – 2032 (USD Billion)
  • Chapter 8. Oil and Gas Cloud Application Market – Regional Analysis
    • 8.1 Global Oil and Gas Cloud Application Market Regional Overview
    • 8.2 Global Oil and Gas Cloud Application Market Share, by Region, 2022 & 2032 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Oil and Gas Cloud Application Market, 2023 – 2032 (USD Billion)
        • 8.3.1.1 North America Oil and Gas Cloud Application Market, by Country, 2023 – 2032 (USD Billion)
    • 8.4 North America Oil and Gas Cloud Application Market, by Component, 2023 – 2032
      • 8.4.1 North America Oil and Gas Cloud Application Market, by Component, 2023 – 2032 (USD Billion)
    • 8.5 North America Oil and Gas Cloud Application Market, by Operation, 2023 – 2032
      • 8.5.1 North America Oil and Gas Cloud Application Market, by Operation, 2023 – 2032 (USD Billion)
    • 8.6 North America Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032
      • 8.6.1 North America Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Oil and Gas Cloud Application Market, 2023 – 2032 (USD Billion)
        • 8.7.1.1 Europe Oil and Gas Cloud Application Market, by Country, 2023 – 2032 (USD Billion)
    • 8.8 Europe Oil and Gas Cloud Application Market, by Component, 2023 – 2032
      • 8.8.1 Europe Oil and Gas Cloud Application Market, by Component, 2023 – 2032 (USD Billion)
    • 8.9 Europe Oil and Gas Cloud Application Market, by Operation, 2023 – 2032
      • 8.9.1 Europe Oil and Gas Cloud Application Market, by Operation, 2023 – 2032 (USD Billion)
    • 8.10 Europe Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032
      • 8.10.1 Europe Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Oil and Gas Cloud Application Market, 2023 – 2032 (USD Billion)
        • 8.11.1.1 Asia Pacific Oil and Gas Cloud Application Market, by Country, 2023 – 2032 (USD Billion)
    • 8.12 Asia Pacific Oil and Gas Cloud Application Market, by Component, 2023 – 2032
      • 8.12.1 Asia Pacific Oil and Gas Cloud Application Market, by Component, 2023 – 2032 (USD Billion)
    • 8.13 Asia Pacific Oil and Gas Cloud Application Market, by Operation, 2023 – 2032
      • 8.13.1 Asia Pacific Oil and Gas Cloud Application Market, by Operation, 2023 – 2032 (USD Billion)
    • 8.14 Asia Pacific Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032
      • 8.14.1 Asia Pacific Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Oil and Gas Cloud Application Market, 2023 – 2032 (USD Billion)
        • 8.15.1.1 Latin America Oil and Gas Cloud Application Market, by Country, 2023 – 2032 (USD Billion)
    • 8.16 Latin America Oil and Gas Cloud Application Market, by Component, 2023 – 2032
      • 8.16.1 Latin America Oil and Gas Cloud Application Market, by Component, 2023 – 2032 (USD Billion)
    • 8.17 Latin America Oil and Gas Cloud Application Market, by Operation, 2023 – 2032
      • 8.17.1 Latin America Oil and Gas Cloud Application Market, by Operation, 2023 – 2032 (USD Billion)
    • 8.18 Latin America Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032
      • 8.18.1 Latin America Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Oil and Gas Cloud Application Market, 2023 – 2032 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Oil and Gas Cloud Application Market, by Country, 2023 – 2032 (USD Billion)
    • 8.20 The Middle-East and Africa Oil and Gas Cloud Application Market, by Component, 2023 – 2032
      • 8.20.1 The Middle-East and Africa Oil and Gas Cloud Application Market, by Component, 2023 – 2032 (USD Billion)
    • 8.21 The Middle-East and Africa Oil and Gas Cloud Application Market, by Operation, 2023 – 2032
      • 8.21.1 The Middle-East and Africa Oil and Gas Cloud Application Market, by Operation, 2023 – 2032 (USD Billion)
    • 8.22 The Middle-East and Africa Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032
      • 8.22.1 The Middle-East and Africa Oil and Gas Cloud Application Market, by Deployment Type, 2023 – 2032 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Oracle Corporation
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Microsoft Corporation
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Tableau Software
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 SAP SE
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Capgemini S.A.
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Accenture PLC
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Citrix Systems
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Hewlett-Packard Company
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Cisco Systems Inc.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 IBM Corporation
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Salesforce
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Dassault Systèmes
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 ABB
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 IFS
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 RiskEdge Solutions
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Seven Lakes Technologies
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
    • 9.17 Bentley Systems
      • 9.17.1 Overview
      • 9.17.2 Financials
      • 9.17.3 Product Portfolio
      • 9.17.4 Business Strategy
      • 9.17.5 Recent Developments
    • 9.18 Aucerna
      • 9.18.1 Overview
      • 9.18.2 Financials
      • 9.18.3 Product Portfolio
      • 9.18.4 Business Strategy
      • 9.18.5 Recent Developments
    • 9.19 TIBCO
      • 9.19.1 Overview
      • 9.19.2 Financials
      • 9.19.3 Product Portfolio
      • 9.19.4 Business Strategy
      • 9.19.5 Recent Developments
    • 9.20 PetroDE
      • 9.20.1 Overview
      • 9.20.2 Financials
      • 9.20.3 Product Portfolio
      • 9.20.4 Business Strategy
      • 9.20.5 Recent Developments
    • 9.21 Sage Software Solutions
      • 9.21.1 Overview
      • 9.21.2 Financials
      • 9.21.3 Product Portfolio
      • 9.21.4 Business Strategy
      • 9.21.5 Recent Developments
    • 9.22 HPE
      • 9.22.1 Overview
      • 9.22.2 Financials
      • 9.22.3 Product Portfolio
      • 9.22.4 Business Strategy
      • 9.22.5 Recent Developments
    • 9.23 Quorum Software
      • 9.23.1 Overview
      • 9.23.2 Financials
      • 9.23.3 Product Portfolio
      • 9.23.4 Business Strategy
      • 9.23.5 Recent Developments
    • 9.24 Others.
      • 9.24.1 Overview
      • 9.24.2 Financials
      • 9.24.3 Product Portfolio
      • 9.24.4 Business Strategy
      • 9.24.5 Recent Developments
List Of Figures

Figures No 1 to 30

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Oracle Corporation
  • Microsoft Corporation
  • Tableau Software
  • SAP SE
  • Capgemini S.A.
  • Accenture PLC
  • Citrix Systems
  • Hewlett-Packard Company
  • Cisco Systems Inc.
  • IBM Corporation
  • Salesforce
  • Dassault Systèmes
  • ABB
  • IFS
  • RiskEdge Solutions
  • Seven Lakes Technologies
  • Bentley Systems
  • Aucerna
  • TIBCO
  • PetroDE
  • Sage Software Solutions
  • HPE
  • Quorum software
  • Others

FAQs

The restraints of the Oil and Gas Cloud Application market include concerns over data security and privacy, compliance with industry regulations, and the complexity of migrating from traditional systems.

The major driver for the Oil and Gas Cloud Application market is the industry’s need for efficient data management and analytics.

The “Private ” category dominated the market in 2022.

The key players in the market are Oracle Corporation, Microsoft Corporation, Tableau Software, SAP SE, Capgemini S.A., Accenture PLC, Citrix Systems, Hewlett-Packard Company, Cisco Systems Inc., IBM Corporation, Salesforce, Dassault Systèmes, ABB, IFS, RiskEdge Solutions, Seven Lakes Technologies, Bentley Systems, Aucerna, TIBCO, PetroDE, Sage Software Solutions, HPE, Quorum software, Others.

“Europe” had the largest share in the Oil and Gas Cloud Application Market.

The global market is projected to grow at a CAGR of 15.1% during the forecast period, 2023-2032.

The Oil and Gas Cloud Application Market size was valued at USD 9 Billion in 2023.

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