According to the recent report titled ‘Europe Oil & Gas Analytics Market Forecast 2027 By Application, By Deployment, By Service, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe oil & gas analytics market is anticipated to amass substantial returns by the year 2027.
 

Rising emphasis on process digitization in the oil & gas vertical to unlock maximum resource utilisation is boosting Europe oil & gas analytics market growth.

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For the unversed, automation and artificial intelligence (AI) assist the oil & gas sector to overcome human limitations, allowing for the kind of decision-making that keeps operations running at full speed while also improving drilling and output.

Notably, oil & gas analytics technology is causing a stir across a wide range of industries, with regional governments enacting HSE laws and guidelines to promote safer on-field operations, thereby propelling the industry outlook.

Moreover, incorporation of process automation, remote instrumentation, and the Internet of Things (IoT), along with employment of remote sensors and predictive analytics to securely monitor operations in real time and optimise field maintenance are aiding in market remuneration.

Based on services, the cloud segment of Europe oil & gas analytics industry is anticipated to grow significantly over the forecast period, owing to factors like lesser infrastructure costs, access to real time information, and strategic control guidelines. To streamline process optimization, oil & gas businesses are employing cloud services in conjunction with Big Data and Business Intelligence analytics methodologies.

In terms of application, the upstream segment is expected to amass substantial returns by 2027, owing to features like enhanced drilling process, management of seismic data, increased reservoir modelling & simulation, and more efficient reservoir production operations.

Hewlett Packard Enterprise Company, Capgemini SE, SAS Institute Inc., Hitachi Ltd., International Business Machines Corporation, Teradata Corporation, TIBCO Software Inc., Tableau Software, SAP SE, Oracle Corporation, Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Cognizant, Cisco Systems Inc., and Accenture plc are the major key players in Europe oil & gas analytics industry.