Global Big Data Market in the Oil and Gas Sector 2018-2022 | Use of Predictive Analytics to Boost Growth | Technavio

According to the latest market research report released by Technavio, the global big data market in the oil and gas sector is expected to accelerate at a CAGR of close to 13% during the forecast period. The demand for quick data access is one of the key factors triggering the growth of the market.

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Technavio has published a new market research report on the global big data market in the oil and gas sector from 2018-2022. (Graphic: Business Wire)

This research report titled ‘Global Big Data Market in the Oil and Gas Sector’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

The market research analysis categorizes the global big data market in the oil and gas sector into the following products:

• Software
• Services

In 2017, the services segment accounted for 59.88% of the global market and is projected to reach 60.09% by 2022, exhibiting almost 0.21% increase in market share.

Global big data market in the oil and gas sector: Top emerging trend

Use of predictive analytics in the oil and gas industry is an emerging trend in the enterprise application space. Several enterprises in the oil and gas industry have identified predictive analytics as one way to accelerate decision making. These organizations have started using collaborative unstructured and structured data to enhance pattern recognition that can improve the optimization of oil and gas operations. Furthermore, there has been an aggressive introduction of user-friendly predictive modeling tools, which are offered either independently or as embedded features of big data solutions. These features include interactive visualization and automation. This will not only accelerate methods for developing, ascertaining, and analyzing predictive models, but also boost the growth of the global market during the forecast period.

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Technavio’s report provides expert market research on the following topics:

Executive Report

• Market Outline
• Global Big Data Market in the Oil and Gas Sector Overview

Market Insights

• Market Sizing and Forecasts
• Market Growth
• Market Drivers and Challenges
• Key Emerging Trends

Market Segmentation Analysis

• Regional comparison (APAC, Americas, and EMEA)
• Key leading countries
• Market segmentation by product (software and services)

Vendor Landscape

• Vendor classification
• Market positioning of vendors
• Competitive scenario
• Analysis of top vendors (GE, HPE, IBM, Oracle, and Teradata)

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180823005424/en/