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Exploration and Production (E&P) Software - Global Strategic Business Report

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    Report

  • 446 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141191

Global Exploration and Production (E&P) Software Market to Reach $17.9 Billion by 2030

The global market for Exploration and Production (E&P) Software estimated at US$5.6 Billion in the year 2022, is projected to reach a revised size of US$17.9 Billion by 2030, growing at a CAGR of 15.7% over the analysis period 2022-2030. On-Premise, one of the segments analyzed in the report, is projected to record 13.2% CAGR and reach US$9.8 Billion by the end of the analysis period. Growth in the Cloud segment is estimated at 19.7% CAGR for the next 8-year period.

Select Competitors (Total 97 Featured)

  • Baker Hughes Company
  • Deswik Mining Consultants (Australia) Pty Ltd
  • Aspen Technology, Inc.
  • CARMA International, Inc.
  • Altair Engineering, Inc.
  • Chetu, Inc.
  • Aveva Group PLC
  • Appen Ltd.
  • Chemstations Inc.
  • Acquire Technology Solutions Pty Limited
  • Audiense Limited
  • Brandster Branding Limited
  • Arround Inc.
  • CiDRA Corporate Services Inc.
  • Ampol Management Services Pte. Limited

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Exploration and Production (E&P) Software Market

What is the estimated value of the Exploration and Production (E&P) Software Market?

The Exploration and Production (E&P) Software Market was estimated to be valued at $5.6 Billion in 2022.

What is the growth rate of the Exploration and Production (E&P) Software Market?

The growth rate of the Exploration and Production (E&P) Software Market is 15.6%, with an estimated value of $17.9 Billion by 2030.

What is the forecasted size of the Exploration and Production (E&P) Software Market?

The Exploration and Production (E&P) Software Market is estimated to be worth $17.9 Billion by 2030.

Who are the key companies in the Exploration and Production (E&P) Software Market?

Key companies in the Exploration and Production (E&P) Software Market include Baker Hughes Company, Deswik Mining Consultants (Australia) Pty Ltd, Aspen Technology, Inc., CARMA International, Inc., Altair Engineering, Inc., Chetu, Inc., Aveva Group PLC, Appen Ltd., Chemstations Inc. and Acquire Technology Solutions Pty Limited.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Exploration and Production (E&P) Software - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
  • Global Oil & Gas E&P Industry Spending (in US$ Billion) for 2015-2021E
  • Impact of COVID-19 Pandemic on Oil and Gas Producers in Developing Countries
  • Oil and Gas Exploration and Production (E&P): A Prelude
  • An Introduction to Exploration & Production (E&P) Software
  • Global Market Prospects & Outlook
  • Developing Regions Present Growth Opportunities for E&P Software Market
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Ongoing Digitization Efforts of Oil and Gas E&P Players to Boost Market Prospects
  • Technology Use in Oil and Gas Industry: % of Companies Using Technology in Operations
  • Digital Technologies Set to Change Face of Oil & Gas Industry with Compelling Benefits
  • Application of AI in the E&P Industry to Expand, Driving Opportunities for E&P Software
  • Rising Importance of Big Data in Finding Value from Geophysical and Geological Data for Oil & Gas Companies
  • IoT Technology Expansion Presents Significant Opportunities for E&P Software Market
  • Global Oil Demand and E&P Efforts Influence Growth Outlook in E&P Software Market
  • Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
  • World Average Rig Count by Region (2015-2020)
  • Rapidly Depleting Oil & Gas Resources & Subsequent Need to Find New Resources Drive Need for Effective E&P Software
  • Global Energy Mix: 1990 Vs 2020 Vs 2030
  • Market to Benefit from the Trend towards Exploration of Unconventional Resources & Deep Drilling Projects
  • Global Oil Production: Percentage Breakdown of Production by Onshore, Offshore, and Offshore Deep Water Activity for 2010 & 2019
  • E&P Software Suitably Placed to Boost Returns & Help Offshore Operators Overcome Investment Hiccup
  • Emerging Issues Prompt E&P Operators to Bet High on Well Integrity Management
  • Simulation Software Solutions Find Increased Demand in E&P Industry
  • Production Software Helps Oil and Gas Companies to Optimize Extraction Activities
  • Cloud-based E&P Software Continues to Gain Prominence in E&P Software Market
  • Advancements in Digital Technologies & Innovations to Drive Market Opportunities
  • Technology Assists Oil and Gas Industry in Becoming Greener
  • Volatile Oil Prices: A Major Challenge
  • Global Brent Crude Oil Price Trends in US$/barrel: Jun 2020-Apr 2021
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Exploration and Production (E&P) Software by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Exploration and Production (E&P) Software by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 3: World 15-Year Perspective for Exploration and Production (E&P) Software by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2015, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for On-Premise by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for On-Premise by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 6: World 15-Year Perspective for On-Premise by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Cloud by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Cloud by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 9: World 15-Year Perspective for Cloud by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Reservoir Simulation by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Reservoir Simulation by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 12: World 15-Year Perspective for Reservoir Simulation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Production by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Production by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 15: World 15-Year Perspective for Production by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Drilling by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Drilling by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 18: World 15-Year Perspective for Drilling by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Navigation System by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Navigation System by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 21: World 15-Year Perspective for Navigation System by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Risk Management Mapping by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Risk Management Mapping by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 24: World 15-Year Perspective for Risk Management Mapping by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 25: World Recent Past, Current & Future Analysis for Performance Tracking by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 26: World Historic Review for Performance Tracking by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 27: World 15-Year Perspective for Performance Tracking by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 28: World Recent Past, Current & Future Analysis for Portfolio Aggregation by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 29: World Historic Review for Portfolio Aggregation by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 30: World 15-Year Perspective for Portfolio Aggregation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 31: World Recent Past, Current & Future Analysis for Resource Valuation by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 32: World Historic Review for Resource Valuation by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 33: World 15-Year Perspective for Resource Valuation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 34: World Recent Past, Current & Future Analysis for Seismic Amplitude Analysis by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 35: World Historic Review for Seismic Amplitude Analysis by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 36: World 15-Year Perspective for Seismic Amplitude Analysis by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 37: World Recent Past, Current & Future Analysis for Other Software Types by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 38: World Historic Review for Other Software Types by Geographic Region - USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • TABLE 39: World 15-Year Perspective for Other Software Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2023 & 2030
  • TABLE 40: World Exploration and Production (E&P) Software Market Analysis of Annual Sales in US$ Thousand for Years 2015 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Oil & Gas Infrastructure Investments Impacted by COVID-19 Outbreak, Affecting Market Growth
  • Global Upstream Capex Change (%) in the US Oil & Gas Industry for FY 2020
  • Oil and Gas Production (in Million Barrels of Oil Equivalent (Boe) per Day) by Type in the US for 2000-2040
  • CANADA
  • CHINA
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • UNITED KINGDOM
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • RUSSIA
  • NORWAY
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • INDIA
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • E&P Industry in India Undergoes Digital Transformation
  • INDONESIA
  • MALAYSIA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • BRAZIL
  • COLOMBIA
  • MEXICO
  • VENEZUELA
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • IRAN
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Baker Hughes Company
  • Deswik Mining Consultants (Australia) Pty Ltd
  • Aspen Technology, Inc.
  • CARMA International, Inc.
  • Altair Engineering, Inc.
  • Chetu, Inc.
  • Aveva Group PLC
  • Appen Ltd.
  • Chemstations Inc.
  • Acquire Technology Solutions Pty Limited
  • Audiense Limited
  • Brandster Branding Limited
  • Arround Inc.
  • CiDRA Corporate Services Inc.
  • Ampol Management Services Pte. Limited