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Significant growth in the oil and gas management software market has been seen in recent years owing to the fact that various regions are coming up with newer and advanced technology for enhancing the productivity of industries. Since the past few years, fluctuations in the prices of oil and gas has been seen which led to complexities in the market. With the use of this software, the ability to take quick decisions can be enhanced and complexities in this market can be simplified.
However, the increase in investment by market players in the alternative energy resources which are highly influential can obstruct the development of the oil and gas management software market.
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As per the recent research, the oil and gas management software market has been segmented and analyzed on the basis of product type, deployment, application, and region. On the basis of application, the market has been segmented into off-shore, on-shore, upstream and downstream. The onshore segment is expected to hold the largest share of the overall market revenue in recent years. This segment held about 68% of the total market revenue in 2018.
The Asia-Pacific region accounted for about 29% of the overall market revenue generated. The appreciable growth in the this-this region is attributed to the presence of a large number of off-shore rigs in this region. The North American region contributed to about 26% of the market revenue and will continue to grow significantly during the forecast period.
Key Points covered in the Report:
Asia-Pacific dominated the oil and gas management software market in 2018 followed by the North American region.
Asia-Pacific is expected to open several opportunities for market players over the forecast period.
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In terms of deployment, the on-premise segment held about 71% of the total market revenue in 2018.
Major market players of the oil and gas management software market include Deltek, Inc., EcoSys Management LLC, SAP SE, Penta Technologies, Inc., Oracle Corporation, LiquidFrameworks, Inc., Siemens AG, InEight, Inc., IBM Corporation, and InEight, Inc.
The report highlights quick information, qualitative and quantitative analysis and inputs from industry experts. The report provides s precise and clear market vision in order to help clients to navigate in the future. Also, the analysis of industry forecast key players and growth rates are included in the report. The report also maps the detailed study of market dynamics and the parent market of the industry. Further, the key points covered in the market report the past and the recent trends in the industry and the in-depth market breakdown in terms of segments. The highly precise market size information, statistical data, and opportunities for revenue growth are the key points covered in the report helping in the extensive strategic planning.
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