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The oil and gas data management market is expected to witness growth owing to increase in complexity of exploration and production activities, advancements in digital technologies, and need for real-time data access and analysis.

PORTLAND, Ore., Aug. 28, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Oil and Gas Data Management Market by Technology (Big Data Analytics, AI, and IoT), Deployment Model (On-premise, and Cloud), and Application (Upstream, Midstream, and Downstream): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "oil and gas data management market" was valued at $29.4 billion in 2023, and is estimated to reach $142.4 billion by 2033, growing at a CAGR of 16.8% from 2024 to 2033.

Prime determinants of growth

The oil and gas data management market is expected to witness notable growth owing to increase in complexity of exploration and production activities, advancements in digital technologies, and need for real-time data access and analysis. Moreover, regulatory compliance and environmental sustainability and operational efficiency and cost reduction are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, integration of legacy systems and data security and privacy concerns limit the growth of the oil and gas data management market.

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Report coverage & details:

Report Coverage Details Forecast Period 2024–2033 Base Year 2023 Market Size in 2023 $29.4 Billion Market Size in 2032 $142.4 Billion CAGR 16.8 % No. of Pages in Report 294 Segments Covered Technology, Deployment Mode, Application, and Region. Drivers Increase in complexity of exploration and production activities

Advancements in digital technologies

Need for real-time data access and analysis Opportunities Regulatory compliance and environmental sustainability

Operational efficiency and cost reduction Restraints Integration of legacy systems

Data security and privacy

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The big data analytics segment to maintain its leadership status during the forecast period

North America region to maintain its dominance by 2033

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Leading Market Players: -

IBM CORPORATION

SCHLUMBERGER LIMITED

HALLIBURTON ENERGY SERVICES, INC.

BAKER HUGHES COMPANY

ORACLE CORPORATION

TERADATA

EMERSON ELECTRIC CO.

HONEYWELL INTERNATIONAL INC.

TATA CONSULTANCY SERVICES LIMITED

SAP SE

AVEVA GROUP LIMITED

QUORUM BUSINESS SOLUTIONS, INC.

VIRIDIEN S.A.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research

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