According to the research 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 expected to witness stellar growth through 2027.

The rising demand for digitalization process to unlock optimum resource utilization, regional governments implementing HSE laws and standards, growing demand for remote instrumentation, and rapid integration of Internet of Things (IoT) are some of the key factors driving the expansion of the Europe oil & gas analytics market.

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The COVID-19 outbreak showcased a shift in business operations around the globe with computers and cloud analytics on the frontline of the digitalization wave paving a strong pathway to increase efficiency in operations, which in turn is contributing towards the overall market remuneration in Europe.

The market is fragmented in terms of deployment, services, application scope, and regional contribution.

Based on service type, the market is further divided into professional, cloud-based, and integration. Among these, the cloud-based segment is expected to grow substantially over the forecast period, owing to its speedy and precise outcomes, minimum infrastructure requirement for server installation, effective process optimization, built-in communication capabilities, and real-time information as well as strategic control guidelines.

Moving on to the application scope, the market is bifurcated into upstream, midstream, and downstream. Out of these, Europe oil & gas analytics market share from upstream segment is anticipated to observe gradual growth over the review period, on account of the technology’s ability to improve drilling process, enhance reservoir modeling and simulation, manage seismic data, and increase efficiency in reservoir production operations.

In terms of the deployment type, the market is categorized into on-premises and hosted segments.

The geographical analysis of this business extends to Norway, the U.K., France, and Italy.

The prominent companies operating in Europe oil & gas analytics industry are Hewlett Packard Enterprise Development LP, Capgemini SE, SAS Institute, Hitachi Ltd., International Business Machines Corporation (IBM), Teradata Corporation, TIBCO Software Inc., Tableau Software LLC, SAP SE, Oracle Corporation, Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Cognizant, Cisco Systems Inc., Inc., and Accenture plc.