According to the research 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 anticipated to garner lucrative returns by 2027.
 

Rising technological advancements, increasing demand for configuration control, lower cost of ownership, and surging production optimization with expanding reservoir are the primary growth catalysts for North America oil & gas analytics market.
 

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As per the report, the COVID-19 outbreak has taken a major toll on the oil & gas industry in the United States. The oil & gas analytics suppliers in North America were challenged by shifting supply dynamics from production cuts to production slowdown. In 2020, oil consumption in the United States was reported to have decreased to 2.3 million barrels per day. Despite the challenging scenario, the pandemic forced oil & gas players to adopt computerized technologies for future production forecasting and cost optimization.
 

In terms of application, North America oil & gas analytics industry share from upstream segment is projected to grow in the coming years, owing to widespread leveraging of Big Data benefits to improve fluid front monitoring geophones, carbon capture, and channel counting. Massive data generation by oil & gas companies has emphasized on the vitality of seismic data management, customized predictive models, and enhanced reservoir engineering using Big Data.
 

Based on service, cloud segment is estimated to record a notable CAGR through 2027 as companies in the O&G industry are turning to cloud services to enable rapid data recovery, data management flexibility, and access to unlimited storage. To streamline process optimization, oil & gas businesses are employing cloud services in conjunction with Big Data and Business Intelligence analytics methodologies.
 

Regionally speaking, the United Stated market size is reckoned to expand significantly over 2021-2027, owing to discoveries of new oil and shale gas reservoirs in the nation. Growing emphasis on reducing refinery equipment maintenance costs and downtime will generate revenue for the market.
 

The key players in North America oil & gas analytics market are Enverus, Hewlett Packard Enterprise Company, Capgemini SE, SAS Institute, Inc., Hitachi Ltd., International Business Machines Corporation, Teradata Corporation, TIBCO Software, Inc., Tableau Software, Cisco Systems, Inc., Accenture plc, Cognizant, Oracle Corporation, Microsoft Corporation, and SAP SE.