Digital Transformation Market In The Oil And Gas Industry 2024-2028
The digital transformation market in the oil and gas industry is forecasted to grow by USD 68.64 bn during 2023-2028, accelerating at a CAGR of 16.73% during the forecast period. The report on the digital transformation market in the oil and gas industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rise in investments and partnerships, rising pressure to improve operational efficiency, and a growing need for advanced technologies in exploration activities.
Technavio's digital transformation market in the oil and gas industry is segmented as below:
By Technology
- IoT
- E and P software
- Big data
- Cloud computing
- Others
By Sector
- Downstream
- Upstream
- Midstream
By Geographical Landscape
- APAC
- North America
- Middle East and Africa
- Europe
- South America
This study identifies the use of digital twin technology as one of the prime reasons driving the digital transformation market in the oil and gas industry growth during the next few years. Also, rise in edge computing and implementation of mobility solutions in oil and gas industry will lead to sizable demand in the market.
The report on the digital transformation market in the oil and gas industry covers the following areas:
- Digital transformation market in the oil and gas industry sizing
- Digital transformation market in the oil and gas industry forecast
- Digital transformation market in the oil and gas industry industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital transformation market in the oil and gas industry vendors that include Accenture Plc, Amazon.com Inc., Computer Modelling Group Ltd., General Electric Co., Halliburton Co., Informatica Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., NVIDIA Corp., Oracle Corp., Rockwell Automation Inc., SAP SE, Siemens AG, Sierra Wireless Inc., Tata Consultancy Services Ltd., Teradata Corp., TIBCO Software Inc., AVEVA Group Plc, and Emerson Electric Co.. Also, the digital transformation market in the oil and gas industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.