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

As per report findings, escalating demand for configuration control and product optimization techniques in the oil & gas sector is fueling the growth of North America oil & gas analytics market. Further, technological advancements in terms of IoT services, automation processes, and remote instrumentations are anticipated to present new opportunities for market expansion over the forecast period.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4229262/

Moving on to the services division of the market, the cloud services segment is gaining momentum in terms of growth rate. Flexible data management and recovery, access to unlimited storage, are the key benefits compelling O&G companies to leverage
cloud services for process optimization. 

Speaking of the application spectrum, upstream producers along with downstream and midstream organizations are directing efforts towards using advanced technology to improve output and optimizing production capabilities.

The upstream oil and gas industry is recording strong growth, creditable to increasing use of big data for boosting fluid front monitoring geophones, carbon capture information, and channel counting.

Elaborating on the COVID-19 pandemic, the pandemic hindered demand in North America oil & gas analytics market as the O&G sector experienced a big dip in production. The effect was majorly felt in the U.S., with the country recording a dip of 2.3 million b/d in 2020. However, the crisis has compelled oil traders to integrate digital solutions for future production forecasts and cost optimization.

Geographically, United States oil and gas analytics market is predicted to garner strong returns during the assessment timeframe. This can be ascribed to expanding oil and shale gas reservoirs in the area. Notably, data available with EIA concludes that reserves of crude oil surpassed nearly 367 million barrels in 2019.

The competitive framework of the North America oil & gas analytics market is majorly influenced by key players such as Oracle Corporation, SAS Institute, Cisco Systems Inc., Microsoft Corporation, Capgemini SE, International Business Machines Corporation (IBM), Accenture plc, Cognizant, and Hewlett Packard Enterprise Company.