What is Exploration and Production (E&P) Software Market?
Exploration and development software is a category of software developed for the oil and gas industry as a whole. This programme enables the user to comprehend and interpret seismic data, perform well interaction, and create simulation-ready reservoir models. It also generates maps, evaluates volumes, and designs advanced reservoir exploitation techniques, as well as visualizing and providing simulation performance. The demand for E&P applications is being driven by increasing digitalization in the oil and gas and energy sectors. In the energy sector, digitalization has paved the way for sophisticated systems to improve mobility, monitoring, networking, and storage technologies, as well as to process and analyse data quickly, increase agility, and support real-time decision making. This is a significant factor that will drive the global exploration and production (E&P) software industry forward. Furthermore, customers are demanding greater accountability from energy producers in areas such as pollution and hydrocarbon sources, which is driving up oil and gas companies' technological maturity adoption.
The market study is being classified by Type (Risk Management Mapping, Seismic Amplitude Analysis, Portfolio Aggregation, Performance Tracking, Navigation Systems, Resource Valuation and Others), by Application (Oil & Gas, Mine & Metallurgy and Other) and major geographies with country level break-up.
Baker Hughes Incorporated (United States), Computer Modelling Group Ltd. (Canada), Emerson Electric Co. (United States), Exprodat(United Kingdom), Pason Systems Corp. (Canada), Halliburton Company (United States), Interactive Network Technologies, Inc. (United States), Ikon Science Limited (United Kingdom), Schlumberger Limited (United States) and Peloton (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ETL Solutions Ltd. (United Kingdom), GEPlan Consulting Srl (Italy) and Paradigm B.V. (Netherlands).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Exploration and Production (E&P) Software market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Exploration and Production (E&P) Software market by Type, Application and Region.
On the basis of geography, the market of Exploration and Production (E&P) Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Digitalization in the Oil & Gas and Energy Sectors
- Increased Mobility, Surveillance, Connectivity, and Storage Technologies, Processing And Analyzing Data Rapidly
- Cloud Based Technology
- Increasing Demand as it Provide Tentative Result Based on the Data Available
- Data Privacy and Security Issue
- Increased Investment in the Oil and Gas Industry
- Lack of Technical expertise, as most of the Workers are Not Tech Savy
August 2020 – Emerson announced that Jaguar Exploración y Producción (Jaguar), an independent oil and gas company based in Mexico City, will use its exploration and production (E&P) software and services to maximize the potential of Jaguar’s onshore assets and projects
Key Target AudienceSoftware/Service Provider, Network Providers, End-User, Government Bodies and Others
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