A report on the Global Oil And Gas Data Monetization Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the Oil And Gas Data Monetization market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
Global Oil And Gas Data Monetization Market Size Is Expected To Reach US$ 65.12 Bn By 2029, At A CAGR Of 16.45% During The Forecast Period.
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Large and diverse data sets are being transformed into intelligence by oil and gas companies to increase asset efficiency. For the unstructured data produced by sensors found in oilfields to be useful, real-time data processing is crucial. Oil and gas businesses can use predictive and regulatory analytics to transform this data into a useful asset to cut costs and increase revenue. The oil and gas industry’s production and consumption of data are both rising, and along with that, so is spending in data. software and services for data administration and analytics. Data monetization can be used to take advantage of insights to find new revenue possibilities, ignite innovation and optimization of products, processes, and services, boost output, and raise service quality in the oil and gas sector. Large proven oil reserves in countries like Venezuela, Saudi Arabia, Canada, Iran, Iraq, Kuwait, United Arab Emirates, Russia, the United States, and China will be what fuel the development of the oil and gas data monetization market, as indirect data adoption offers significant growth possibilities. Data monetization includes both direct data monetization, or mainly exploratory data products, as well as software and services to extract insights for development in these fields. The market will continue to be driven by seismic and geophysical surveys carried out in the area to identify new exploration locations and their potential, as well as by the anticipated use of software solutions.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Halliburton, Schlumberger, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
Currently accounting for 34% of the global market, North America is anticipated to maintain its lead throughout the forecast era. The expansion of the oil and gas data monetization market in the region is being driven by rising oil production and shale gas activities, which are anticipated to raise demand for indirect data monetization to achieve greater operational efficiencies. The Middle East and Africa is anticipated to hold a 26% market share for the monetization of energy and gas data globally. There are chances to fuel the expansion of the oil and gas data monetization market in Saudi Arabia, Iran, Iraq, Kuwait, and the United Arab Emirates thanks to their substantial proven oil reserves. Both direct and indirect data monetization, which uses software and services to generate insights for creating these repositories, have substantial growth potential (primarily exploration data products). Over the course of the projection period, the market will continue to be driven by the use of software solutions and seismic and geophysical surveys carried out in the area to identify new exploration sites and their potential.
Oil And Gas Data Monetization Market Segmentation:
By Type:
Data-as-a-service
Professional Services
Software/Platform
Other
By Application:
National Oil Companies (NOCs)
Independent Oil Companies (IOCs)
National Data Repositories (NDRs)
Oil and Gas Service Companies
Other
By Method:
Indirect Data Monetization
Direct Data Monetization
Other
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Related Sources:
Oil And Gas Data Monetization- https://www.digitaljournal.com/pr/global-oil-and-gas-data-monetization-market-is-expected-to-grow-at-a-cagr-of-16-45-during-forecast-period
Oil And Gas Data Monetization- https://www.newstrail.com/oil-and-gas-data-monetization-market-growing-demand-and-trends-2023-to-2030/
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