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Oil & Gas Data Monetization Market

Market Study on Oil and Gas Data Monetization: Increasing Scope of Digital Solutions in Oil and Gas Industry to augment market growth

Oil & Gas Data Monetization Market Segmented By Direct, Indirect Method as Oil & Gas Data-as-a-service Monetization, Professional Oil & Gas Data Monetization Services, Oil & Gas Data Monetization Software/Platform Component

Oil and Gas Data Monetization Market Outlook (2022-2032)

The oil and gas data monetization market is anticipated to have document a CAGR of 14.9% during the period of 2022-2032. The oil and gas data monetization market is anticipated to reach US$ 161.6 Billion in 2032, from US$ 40.3 Billion in 2022.

“The major factor that is expected to accelerate the growth of the Oil and Gas Data Monetization Market during the forecast period includes an increase in adoption of AI for data processing, which extends profitable opportunities to the market players.”

Oil and gas companies are continuously using the large volume and variety of data into intelligence for enhanced asset productivity, which in turn is expected to propel the market growth during the forecast period.

Attributes

Details

Oil and Gas Data Monetization Market CAGR (2022-2032)

14.9%

Oil and Gas Data Monetization Market Size (2022)

US$ 40.3 Billion

Oil and Gas Data Monetization Market Size (2032)

US$ 161.6 Billion

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What are the Factors Spearheading the Growth of Oil and Gas Data Monetization Market?

Technological advancements in Big Data and Business analytics is one of the key factors driving the growth of oil and gas data monetization market during the forecast period. In addition, implementation of Industry 4.0 has paved the road to a new era of competitiveness which further is driving the demand for oil and gas data monetization market. This implementation is playing a vital role in helping oil and gas companies to tackle the challenging landscape of the industry and helps them in improving their operational and maintenance needs.

Moreover, the adoption of IoT solutions built around the applications such as factory optimization, predictive maintenance, and supply chain automation is creating potential growth opportunities for the oil and gas data monetization market. Oil and gas companies are continuously using the large volume and variety of data into intelligence for enhanced asset productivity.

oil-and-gas-data-monetization-market

To derive the value out of unstructured data generated from sensors present in the oil field, real-time analysis is used. Predictive and prescriptive analytics are highly deployed in oil and gas companies to earn money and minimize expenses by turning this data into valuable assets. This factor is expected to propel the market growth over the analysis period.

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What are some Lucrative Opportunities for the Oil and Gas Data Monetization Market?

The increase in the number of oil and gas companies across the globe acts as one of the major factors driving the growth of oil and gas data monetization market. The increase in the adoption of the big data technologies to collect, manage, and increase new insights, and increase in demand for data monetization technologies that can assist key players in optimizing their business operations, and improving their competitive edge accelerate the market growth.

Moreover, the advent of open standards and centralized data management for seamless integration and operation across the number of pipeline operation systems, and high usage of these operation systems such as simulation, measurement and asset management further influence the market over the analysis period.

Furthermore, increased system availability, rapid digitization, rise in the adoption of Internet of Things and huge amounts of data generated positively affect the oil and gas data monetization market. Additionally, an increase in adoption of AI for data processing extends profitable opportunities to the market players during the forecast period.

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What are the Challenges faced by the Oil and Gas Data Monetization Market?

The integration of oil and gas data monetization solutions with the existing legacy infrastructure as well as lack of awareness regarding the adoption of advanced technologies are the major factors that are expected to hinder the growth of oil and gas data monetization market.

Moreover, varying structure of regulatory policies and lack of awareness regarding the requirement of the interventions are some other factors expected to impede the market growth.

In addition, an Increase in complexities in data structures and concerns regarding privacy and data are projected to challenge the oil and gas data monetization market during the forecast period.

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Comparative View of Adjacent Oil and Gas Data Monetization Market

Attributes

Oil and Gas Data Monetization Market

CAGR

(2022-2032)

14.9%

Market Value

(2032)

US$ 161.6 Billion

Growth Factor

The increase in the number of oil and gas companies across the globe acts as one of the major factors driving the growth of oil and gas data monetization market.

Opportunity

The advent of open standards and centralized data management for seamless integration and operation across the number of pipeline operation systems. This factor is expected to create lucrative opportunities for the market growth.

Key Trends

The rise in the adoption of Internet of Things and huge amounts of data generated positively affect the oil and gas data monetization market.

Comparative View of Adjacent Telecom Data Monetization Market

Attributes

Telecom Data Monetization Market

CAGR

(2022-2032)

25.9%

Market Value

(2032)

US$ 92.2 Billion

Growth Factor

The major factor that is expected to accelerate the growth of the Telecom Data Monetization market includes the swift adoption of advanced analytics and visualization

Opportunity

The growing volume and variety of business data is one of the factors that is expected to create lucrative opportunities for the market growth.

Key Trends

The rising usage of external data sources is one of the key growth drivers of the global telecom data monetization market.

Comparative View of Adjacent Automotive Data Monetization Market

Attributes

Automotive Data Monetization Market

CAGR

(2022-2032)

39.8%

Market Value

(2032)

US$ 178.0 Billion

Growth Factor

The growing number of connected vehicles and the permission and activation rate of these vehicles among consumers is the major factor that is expected to propel the market growth.

Opportunity

Increased and sophisticated analytics and big data in automotive applications to provide extra features and services in cars, lower operating costs and investment, and improve driver and passenger safety are driving the global automotive data monetization market revenue growth.

Key Trends

To stay ahead in a highly competitive market, automakers are concentrating on creating new monetization mechanisms and improving software deployment capabilities.

The ongoing industrial revolution along with the adoption of digital technologies in oil & gas industry is playing a crucial role in the economic transformation and thus creating potential growth opportunities for oil and gas data monetization market.

In past few years, the oil & gas industry is redefining its limitations through digitalization and owing to the continuous fluctuations in demand and supply chain, the oil & gas companies are adopting advanced solutions such as oil and gas data monetization to make data driven decisions and solve hurdles across the value chain. In last few years, oil & gas companies are adopting prescriptive and predictive analytics solutions to minimize the expenses and for real-time data analysis.

Additionally, the oil and gas data monetization solution is helping the companies in identifying new revenue opportunities, improving production, and in triggering product and process innovation along with enhance service quality.

Furthermore, developments in technologies such as the cloud, big data, and analytics are creating immense opportunities for the growth of oil and gas data monetization market and helps oil & gas companies to stay ahead of ongoing digital transformation.

What is the Segmentation Outlook for the Oil and Gas Data Monetization Market?

The oil and gas data monetization market is segmented into Method, Component, Application, E&P Lifecycle, Oil Companies, and Region.

On the basis of component, the Software/Platform segment of the oil and gas data monetization market is expected to hold a larger market size with a CAGR of 14.6% during the forecast period. As SaaS and IoT implementations continue to rapidly expand, suppliers require the flexibility to implement new business models.

A software monetization platform, unlike a basic licensing solution, supports multiple licensing models in a single software licensing system, so suppliers can quickly adapt as their markets change.

Which Segment is likely to lead the Oil and Gas Data Monetization Market by Application?

Based on Method, the Indirect Data Monetization segment of the Oil and Gas Data Monetization Market is anticipated to grow with the highest CAGR of 14.0%.

The Indirect Data Monetization segment of the market can be benefitted, attributed to the increasing spending by national oil and gas companies and maximum share of production by national oil and gas companies globally.

Which is the Key Region in the Oil and Gas Data Monetization Market?

Regions

CAGR (2022-2032)

United States

14.4%

China

17.9%

Japan

16.8%

U.K

15.1%

The global oil and gas data monetization market covers five major geographic regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. North America dominates the oil and gas data monetization market due to the increasing oil production, availability of necessary infrastructure, and use of indirect data monetization solutions within the region. The U.S is expected to represent a massive growth of US$ 41.0 Billion in the oil and gas data monetization market, with a CAGR of 14.4% during the forecast period.

Asia-Pacific is expected to witness highest growth during the forecast period, owing to the rising investments in the E&P sector. China is expected to represent a CAGR of 17.9%, to reach a market share of US$ 20.6 Billion during the forecast period. Middle East & Africa is expected to be the key market for oil and gas data monetization market, owing to the presence of leading oil and gas companies in the region and adoption of advanced technologies by leading oil and gas companies in the region.

Moreover, the oil and gas data monetization market in South America is also expected to create significant growth opportunities, owing to the rising adoption of digital technologies, increasing oil and gas demand, and government’s initiatives towards the adoption of digital solutions.

How does Competition Influence the Oil and Gas Data Monetization Market?

Halliburton, Schlumberger Limited, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, IBM Corporation, EMC Corporation, Microsoft Corporation, Tata Consultancy Services Ltd., Datawatch, Drilling info, Hitachi Vantara Corporation, Hortonworks, Inc., Capgemini SE, Newgen Software, Inc., Cloudera, Inc., Cisco Software, Inc., SAS Institute, Inc., MapR Technologies, Inc., Palantir Solutions, OSIsoft LLC, Infosys Limited, and NETSCOUT among others are the top companies in the global oil and gas data monetization market.

In order to strengthen their position in the global oil and gas data monetization market, organizations are focused on industry collaborations, mergers & acquisitions, and partnerships.

The research offers a comprehensive competition analysis of some top competitors in the oil and gas data monetization market, including company biographies, recent developments, and significant market strategies. It shows how the competitors are taking advantage of the opportunities present in the oil and gas data monetization market.

  • In November 2019, Oracle announced a new cloud-native deployment option for BRM. The enhanced deployment model provides a modern monetization solution to capture opportunities. The latest version of the BRM solution is introduced to support emerging 5G-enabled use cases for CSPs.
  • In July 2019, Microsoft introduced a new Microsoft Azure service. The new Azure Data Share service is a cloud service. It will help organizations in sharing their internal data. The company focuses on providing the service for its customers to share data to comply with regulations and privacy policies.
  • In June 2019, Salesforce announced the acquisition of Tableau, a leading provider of the analytics platform. This acquisition would provide Salesforce customers with a full view of their consumers across touchpoints by combining the CRM platform of Salesforce with Tableau’s data.

Report Scope

Attributes

Details

Forecast Period

2022-2032

Historical Data Available for

2015-2021

Market Analysis

USD Mn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • France
  • U.K.
  • China
  • Japan
  • India
  • Australia
  • GCC Countries
  • South Africa
  • Brazil

By Market Segments

  • Method
  • Component
  • Application
  • E&P Lifecycle
  • Oil Companies
  • Region

Key Companies Profiled

  • Halliburton
  • Schlumberger Limited
  • Informatica Corporation
  • SAP SE
  • Oracle Corporation
  • Accenture plc.
  • IBM Corporation
  • EMC Corporation
  • Microsoft Corporation
  • Tata Consultancy Services Ltd.
  • Datawatch
  • Drilling info
  • Hitachi Vantara Corporation
  • Hortonworks, Inc.
  • Capgemini SE
  • Newgen Software, Inc.
  • Cloudera, Inc.
  • Cisco Software, Inc.
  • SAS Institute, Inc.
  • MapR Technologies, Inc.
  • Palantir Solutions
  • OSIsoft LLC
  • Infosys Limited
  • NETSCOUT

Pricing

Available Upon Request

Key Segments Covered in the Oil and Gas Data Monetization Market Study

Oil and Gas Monetization by Method

  • Direct Oil and Gas Data Monetization
  • Indirect Oil and Gas Data Monetization

Oil and Gas Monetization by Component

  • Oil & Gas Data-as-a-service Monetization
  • Professional Oil & Gas Data Monetization Services
  • Oil & Gas Data Monetization Software/Platform

Oil and Gas Monetization by Application

  • Upstream Oil & Gas Data Monetization
    • Conventional Oil & Gas Data Monetization
    • Unconventional Oil & Gas Data Monetization
  • Midstream Oil & Gas Data Monetization
  • Downstream Oil & Gas Data Monetization

Oil and Gas Monetization by E&P Lifecycle

  • Oil & Gas Exploration Data Monetization
  • Oil & Gas Development Data Monetization
  • Oil & Gas Production Data Monetization

Oil and Gas Monetization by Oil Companies

  • Oil and Gas Data Monetization by National Oil Companies (NOCs)
  • Oil and Gas Data Monetization by Independent Oil Companies (IOCs)
  • Oil and Gas Data Monetization by National Data Repositories (NDRs)
  • Oil and Gas Data Monetization by Oil and Gas Service Companies

Oil and Gas Monetization by Region

  • North America Oil and Gas Data Monetization Market
  • Europe Oil and Gas Data Monetization Market
  • Asia Pacific Oil and Gas Data Monetization Market
  • Middle East and Africa Oil and Gas Data Monetization Market
  • South America Oil and Gas Data Monetization Market

- Companies Covered in This Report -

  • Accenture plc.
  • Adastra Corporation
  • ALC
  • Dawex
  • IBM Corporation
  • Intel Corporation
  • Comviva
  • Aspen Technology
  • NETSCOUT
  • Paxata, Inc
  • Optiva Inc.
  • SAP SE
  • SQLstream, Inc.
  • Virtusa Corporation

- Frequently Asked Questions -

The oil and gas data monetization market is projected to register a CAGR of 14.9% until 2032

Japan is the leading country, with an anticipated CAGR of 16.8% by 2032

On the basis of component, the software/platform category leads the market with the projected CAGR of 14.6% by 2032

The oil and gas data monetization market is predicted to grow US$ 161.6 Billion by 2032

By method, the indirect data monetization segment leads the market with the projected CAGR of 14.0% in 2032.

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