Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "Exploration and Production (E&P) Software - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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$6.4 Billion in the year 2023, is projected to reach a revised size of US$17.9 Billion by 2030, growing at a CAGR of 13.8% over the analysis period 2023-2030.
In 2023, the competitive landscape of the Exploration and Production (E&P) Software market showcased varying degrees of market presence, ranging from strong and active to niche or trivial, for players worldwide. The global economic update set the stage, highlighting the significance of ongoing digitization efforts within the oil and gas industry, poised to boost market prospects for E&P Software.
The report provided an introduction to Oil and Gas Exploration and Production (E&P), emphasizing the importance of software solutions in streamlining operations. Insights into the global market prospects and outlook revealed opportunities for growth, particularly in developing regions, driven by ongoing digitization efforts.
On-Premise E&P Software, one of the segments analyzed in the report, is projected to record 11.5% CAGR and reach US$9.8 Billion by the end of the analysis period. Growth in the Cloud E&P Software segment is estimated at 17.2% CAGR for the next 8-year period.
Recent market activity shed light on the dynamic nature of the E&P Software market, reflecting evolving trends and developments. The report also underscored the increasing application of digital technologies, such as AI, big data analytics, and IoT, within the oil and gas industry, driving opportunities for E&P Software providers.
Overall, the exploration and production sector continued to embrace technological advancements, paving the way for the expansion of the E&P Software market and its pivotal role in enhancing operational efficiency and decision-making processes.
MARKET OVERVIEW
- Exploration and Production (E&P) Software - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- 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
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
- 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
- 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
FOCUS ON SELECT PLAYERS(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
For more information about this report visit https://www.researchandmarkets.com/r/wvh5vd
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