Big Data in Oil & Gas Exploration and Production Market - Growth, Trends, and Forecasts (2015-2020)
The most critical event of any oil & gas exploration process is drilling a well. This action requires a large amount of resources in terms of both personnel and equipment to be deployed at a remote location. The oil exploration and production work encompasses various activities, such as equipment maintenance, price optimization, production optimization, and safety & compliance. The chance of a failure simply manifolds the loss. The solution lies in the form of better data collection and improved analysis, which is possible through big data analysis.
Big data in the oil sector is captured from various sources, such as seismic reports, equipment monitoring, sensors, GPS services, historical data, weather patterns, and even social media. Some of the data is in the form of text, pictures, and multimedia, which may be structured or unstructured. The objective is also to reduce the challenges, so that the knowledge gap between the experienced and new oil workers is managed and the huge data collection through digital oilfield is streamlined.
Key Deliverables of the Study
Market definition along with the identification of key drivers, restraints and opportunities
Market analysis, with region specific assessments and competition analysis on a global and regional scale
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Insights on the major countries/regions in which this industry is growing and to also identify the regions that are still untapped
Extensively researched competitive landscape section along with list of key companies and their market shares
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