Tailored Software Solutions for the Oilfield Services - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014–2020.
Albany, NY -- (SBWIRE) -- 01/21/2016 -- The complex and long value chain of the hydrocarbons industry necessitates oil and gas companies to efficiently manage large datasets. Operations in the oil and gas industry are also capital-intensive and spread across a large geographical area, with hundreds of thousands of employees working at different locations. Taking this into consideration, investments in tailored or customized software have become almost imperative for oil and gas companies. This will cause the demand for tailored software solutions for oilfield services to grow, says a report by Transparency Market Research. The report is titled, 'Tailored Software Solutions for the Oilfield Services - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014–2020.'
The degree of customization and sophistication in oilfield services software depends mainly on how complex the process is and the size of the operator's oil and gas operations. There are several benefits offered by tailored software solutions for oilfield services. The prospect of saving costs by automating critical tasks is a factor that encourages companies to invest in customized software solutions for oilfield services. Equipped with such solutions, companies can expect to smartly deploy their equipment and crew in areas where the intensity of operations is highest. Given these factors, the global tailored software solutions market is expected to report a healthy rate of growth.
For the purpose of this study, the global market for tailored software solutions for oilfield services is segmented on the basis of geography and type of solution provided. Based on the latter criteria, the market has been segmented into: operation and production reporting, asset management, oilfield construction services, cost accounting services, production field data collection. The regional markets that have been studied for tailored software solutions for oilfield services are: North America, Europe, Asia Pacific, and Rest of the World.
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North America is a leading market for tailored software solutions for oilfield services owing to a very positive investor sentiment currently prevailing in the United States, which can be gauged by the recent shale field development projects. With a high number of mature hydrocarbon reserves in North America, companies are looking at leveraging technology to identify ways and means to extract the maximum value from these mature reserves. This is where the role of tailored software solutions for oilfield services comes into the picture.
The report also identifies Europe as another crucial market for customized software solutions. Recent offshore projects seen in the North Sea, Kazakhstan, and Azerbaijan have fueled the market in Europe. Other major regional markets predicted to help the tailored software solutions for oilfield services are Africa and Latin America.
Leading vendors in the leading market for tailored software solutions for oilfield services are: SAP AG, Accenture, NexTec Group, and Alfresco Software Inc.
About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.