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Exploration and Production (E&P) Software - Global Market Trajectory & Analytics

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    Report

  • 446 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141191

FEATURED COMPANIES

  • Baker Hughes Company
  • ETL Solutions Ltd.
  • Exprodat Consulting Ltd.
  • Halliburton Company
  • Ikon Science Ltd.
  • Kongsberg Gruppen ASA

Global Exploration and Production (E&P) Software Market to Reach $9.9 Billion by 2026


The various kinds of E&P software are available in the market including reservoir drilling, simulation, and production, reservoir characterization, resource valuation, navigation system, seismic amplitude analysis, portfolio aggregation, and risk management mapping software, among others. Production software is likely to register robust growth driven by the increase in production in the upstream operations globally in the long run. Adoption of simulation software is also likely to rise, as it offers tentative results on the basis of available data. Such simulation software can be used with the current software of a company. The trend towards digitalization is anticipated to fuel the E&P software and services market. Digitalization has facilitated complex platforms in the energy industry to augment connectivity, surveillance, mobility, and storage technologies, and enable quick data analysis and processing, better agility, and decision making in real-time. This is anticipated to give a boost to the E&P software market. The rising need to identify novel resources for the extraction of oil and gas products is also driving the use of emerging technologies, which is aiding market growth.

Global Exploration and Production (E&P) Software market is projected to register healthy growth over the medium-to-long term. The market, estimated at US$5.6 Billion in 2022 is projected to reach US$9.9 Billion by 2026, registering a compounded annual growth rate (CAGR) of 14.5% over the analysis period. United States represents the largest regional market for Exploration and Production (E&P) Software, accounting for an estimated 25.1% share of the global total. The market, estimated at US$1.4 Billion in 2022 is projected to reach US$2.8 Billion by the end of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 19.2% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Exploration and Production (E&P) Software, supported by various factors conducive to healthy growth.

Over the years, the oil and gas industry has rapidly embraced digital technologies for effective management of costs and to enhance overall efficiencies, particularly in the wake of challenges emerging due to the highly volatile oil pricing scenario. Digitization efforts by oil & gas players have helped the companies to reduce costs by about 10-25%, while productivity is improved by around 8-10%. In addition, digitization is increasingly providing a safe and environmentally sound operating environment. The increasing need for safety is driving oil & gas companies to rely extensively on advanced technologies and software solutions to improve operations. In the oil and gas industry, software tools have played a critical role in development of new technologies.

Cloud Deployment to Reach $3.9 Billion by 2026


Oil and gas companies are increasingly seeking out the scalability and ease of innovation that cloud computing promises. New advances in cloud computing technology are bringing major benefits of business analytics and data to the oil and gas industry. In recent years many companies in the oil and gas industry have started to make the switch from in-house data storage to cloud-based services. Global Cloud Deployment segment is estimated at US$1.9 Billion in 2022, and is projected to reach US$3.9 Billion by 2026 reflecting a compounded annual growth rate of 18.5% over the analysis period. United States constitutes the largest regional market for Cloud segment, accounting for 27.1% of the global sales. China is poised to register the fastest compounded annual growth rate of 24.2% over the analysis period, to reach US$409.3 Million by the close of the analysis period.

Select Competitors (Total 97 Featured):

  • Baker Hughes Company
  • Computer Modelling Group Ltd.
  • Emerson Paradigm Holding LLC.
  • ETL Solutions Ltd.
  • Exprodat Consulting Ltd.
  • G.E. Plan Consulting S.r.l.
  • Halliburton Company
  • Ikon Science Ltd.
  • Interactive Network Technologies, Inc.
  • ION Geophysical Corporation
  • Kongsberg Gruppen ASA
  • Pason Systems Corp.
  • Peloton Computer Enterprises Ltd.
  • Petroleum Experts Ltd.
  • Schlumberger Limited

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

  • Baker Hughes Company
  • ETL Solutions Ltd.
  • Exprodat Consulting Ltd.
  • Halliburton Company
  • Ikon Science Ltd.
  • Kongsberg Gruppen ASA

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 PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (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 2022 (E)
EUROPE
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
UNITED KINGDOM
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (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 2022 (E)
INDIA
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (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 2022 (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 2022 (E)
IRANSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Exploration and Production (E&P) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 97

A selection of companies mentioned in this report includes:

  • Baker Hughes Company
  • Computer Modelling Group Ltd.
  • Emerson Paradigm Holding LLC.
  • ETL Solutions Ltd.
  • Exprodat Consulting Ltd.
  • G.E. Plan Consulting S.r.l.
  • Halliburton Company
  • Ikon Science Ltd.
  • Interactive Network Technologies, Inc.
  • ION Geophysical Corporation
  • Kongsberg Gruppen ASA
  • Pason Systems Corp.
  • Peloton Computer Enterprises Ltd.
  • Petroleum Experts Ltd.
  • Schlumberger Limited