Cloud Applications in Oil and Gas Market expected to grow to $5.1 Billion by 2019

According to a new market research report, “Oil and Gas Cloud Applications Market by Type (Data Analytics, CRM, ECM, Collaboration, HCM, ERP, Project Management, SCM, GRC, Core Industry Applications) – Worldwide Forecast and Analysis (2014 – 2019)”, published by MarketsandMarkets, The global Cloud Applications in Oil and Gas Market expected to grow from $2.7 Billion to $5.1 Billion with a CAGR of 13.6% for the forecast period.

This research report also identifies the factors driving this market, various restraints, challenges, and opportunities impacting it along with the future roadmaps. Additionally, the report emphasizes on key adoption trends, evolution of cloud applications, attractive market opportunities, and business cases in this innovative market.

MarketsandMarkets expects a significant growth trend of cloud-based solutions in oil and gas industry as there is a massive rise in the demand of crude oil and natural gas and their derivative products due to industrialization and increase in standard of living.

The Oil and Gas Cloud Applications Market is broadly segmented by type of applications: Data Analytics, Customer Relationship Manager (CRM), Enterprise Content Management (ECM), Collaboration, Human Capital Management (HCM), Enterprise Resource Planning (ERP), Project Management, Supply Chain Management (SCM), Governance, Risk Management and Compliance (GRC) and Core industry applications; by type of deployment model: Public cloud, Private Cloud,  Hybrid Cloud; by type of organization : Small and Medium-Sized Business (SMB), and Large enterprises; and by region: North America (NA), Asia-Pacific (APAC), Europe,Latin America (LA), and Middle East and Africa (MEA).

 

There are a few assumptions that have been taken into consideration for market sizing and forecasting exercise of the Oil and Gas Cloud Applications Market. These global assumptions include political, economic, social, technological and economic factors. For instance, exchange rates, one of the economic factors, are expected to have a moderate rate of impact on this market. Thus, the dollar fluctuations are also assumed to not affect the market forecast to a significant extent. Also, market size for hardware-related tools and equipment used in the cloud applications market is not taken into consideration while the overall sizing of the Oil and Gas Cloud Applications Market.

The cloud applications in oil and gas market research report will help the market leaders/new entrants in this market in the following ways:

This report segments the market into type of applications covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different regions.

This report will help them better understand the competitor and gain more insights to better position their business. There is a separate section on competitive landscape, including competitor ecosystem, mergers and acquisition and venture capital funding. Besides, there are company profiles of top 10 players in this market.

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