Oil and Gas Mobility Market Forecasts to 2028 – Global Analysis By Service (Cloud Services, Integration Services), Software (Workforce Automation, Data Management), Deployment Type (On-Premise, Hosted) and By Geography

Oil and Gas Mobility Market Forecasts to 2028 – Global Analysis By Service (Cloud Services, Integration Services), Software (Workforce Automation, Data Management), Deployment Type (On-Premise, Hosted) and By Geography

According to Stratistics MRC, the Global Oil and Gas Mobility Market is accounted for $24.75 billion in 2021 and is expected to reach $93.99 billion by 2028 growing at a CAGR of 21.0% during the forecast period. Oil and gas mobility is primarily used for transforming conventional practices used in the oil and gas industry into the mobile performance-driven approach. Oil and gas mobility ensures the maximum use of available resources driving efficiency and rescuing the operational costs.

Market Dynamics:

Driver:

Need for production optimization

Different existing oil & gas fields across the globe are depleting and have increased concerns among the oil & gas companies regarding optimum production. Various oilfield service providers are developing software to tackle the lower production by oilfields. Further, to continue surviving and thriving in the uncertain environment, oil & gas producers are now transforming their operating and business models with urgency to reduce production costs by improving production efficiency in existing and new oil fields. Furthermore, as existing reserves continue to deplete, production optimization has become one of the most important areas to look after.

Restraint:

The rising number of cyber-attacks

Cyber attackers have targeted crude oil and natural gas (O&G) companies, with attacks growing in frequency, sophistication, and impact as the industry employs ever more connected technology. But the industry’s cyber maturity is relatively low, and O&G boards show generally limited strategic appreciation of cyber issues. Moreover, energy was the industry's second most prone to cyber-attacks, with nearly three-quarters of US O&G companies experiencing at least one cyber incident.

Opportunity:

Integrated vendor ecosystem

Integrated digital platforms can enhance collaboration among participants in the oil and gas ecosystem, while also accelerating innovation, reducing costs, and making operations transparent. Continuous innovation has always been fundamental to the oil and gas industry, but digitalization opens up the possibility of collaborative innovation. Digital platforms allow oil and gas companies to connect better with their vendors, customers, and wider society. By creating a ""top layer"" of information-sharing across the industry, ecosystem participants will be able to collaborate in more advanced ways.

Threat:

Information security and connectivity issues

A security operations center (SOC) that sits at the heart of the organization’s cyber threat detection and response capability is an excellent starting point, providing a centralized, structured, and coordinating hub for all cyber security activities. On the other hand, enhanced connectivity could also enable remote or semi-automatic drilling, drastically reducing the number of people required on a rig itself. An automated rig floor will mean replacing hazardous operations such as pipe handling and assembly, which currently are carried out manually and are a primary source of incidents in drilling rigs.

The mobile analytics segment is expected to be the largest during the forecast period

The mobile analytics segment is expected to have the largest share during the forecast period. Mobile analytics in oil and gas reduces the cycle time required for performing routine operations and ensures optimum utilization of resources available. It introduces the flexibility of doing tasks from any location at any time where work can be shared within the enterprise in real-time. This helps the management to make quick decisions without interrupting the workflow.

The asset management segment is expected to have the highest CAGR during the forecast period

The asset management segment is growing at the highest CAGR in the market. Asset management is the process of tracking, analyzing, and managing assets to optimize business value. The integration capabilities offered by the oil and gas mobility market will help to carry out analytics on all their operations through a single interface. It will also make it easy for professionals to track, analyze and manage their assets.

Region with highest share:

North America is projected to hold the largest share in the market. North American nonconventional production has exploded and has raised the demand for data management obtained in huge numbers at production sites. With rising shale developments in the region, the amount of data produced from oilfields is only expected to rise and if properly managed, may prove to be a significant cost optimizer for the shale industry in the region.

Region with highest CAGR:

North America is projected to have the highest CAGR during the forecast period. The shift from vertical to horizontal wells is the most important change to occur over the last decade in the region, allowing for greater formation access, while only incrementally increasing the cost of the well.

Key players in the market:

Some of the key players profiled in the Oil and Gas Mobility Market include Accenture Plc, Cisco Systems, Microsoft Corporation, Oracle Corporation, SAP SE, Halliburton, Hewlett Packard Enterprise Co, IBM Corporation, Infosys Ltd, Wipro Ltd, and Cognizant Technology Solutions.

Key developments:

In May 2021: Infosys and Majesco have announced a strategic partnership. Infosys and Majesco will collaborate to help joint clients accelerate their digital transformation journeys, allowing them to seize new possibilities, meet the demand for personalized customer experiences, improve operational efficiency, and increase digital adoption.

In January 2021: Cisco’s long-awaited and disputed acquisition of Acacia is back on track, thanks to a significant increase in the networking giant’s offer price for the optical supplier.

In November 2020: Hewlett Packard Enterprise Company (HPE) and Carnegie Clean Energy Limited (Carnegie) have signed a Collaboration Agreement in which the two companies will collaborate on a project to develop a reinforcement learning-based controller for CETO wave energy technology.

In June 2019: Microsoft and Oracle announced a cloud interoperability alliance that will allow clients to transfer and run mission-critical enterprise workloads across Microsoft Azure and Oracle Cloud.

Services Covered:
• Cloud Services
• Integration Services
• Professional Services

Softwares Covered:
• Asset Management
• Risk and Regulatory Compliance
• Workforce Automation
• Data Management
• Materials Management
• Mobile Analytics
• Field Service Automation
• Fuel Management
• Sales Enablement
• Inspections and Assessment

User Types Covered:
• Small and Medium Businesses (SMB's)
• Enterprises

Deployment Types Covered:
• On-Premise
• Hosted

Oil & Gas Sectors Covered:
• Upstream
• Downstream
• Midstream

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances