Global Oil And Gas Data Monetization Market Size Is Expected To Reach US$ 65.12 Bn By 2030, At A CAGR Of 16.45% During The Forecast Period.

Oil And Gas Data Monetization Market Overview:

Oil and gas companies are turning large and diverse data into intelligence to improve asset productivity. Real-time data analysis is essential for deriving value from the unstructured data generated by sensors present in oilfields. Predictive and regulatory analytics is an approach that helps oil and gas companies turn this data into a valuable asset to minimize costs and generate revenue. Data creation and consumption continues to increase in the oil and gas industry, and with it, investment in data is also increasing. Analytics and data management software and services. Data monetization can be used to leverage insights to identify new revenue opportunities, spark product, process and service innovation and optimization, improve production, and improve quality of service in the oil and gas industry. Large proven oil reserves in Venezuela, Saudi Arabia, Canada, Iran, Iraq, Kuwait, UAE, Russia, United States and China will drive the growth of the oil and gas data monetization market as there are significant growth opportunities for indirect data adoption. provides. Data monetization, i.e., software and services to derive insights for development in these fields, and direct data monetization, i.e. primarily exploratory data products. Seismic and geophysical surveys conducted in the region to find new exploration sites and their potential and the expected use of software solutions will continue to drive the market over the forecast period.

Oil And Gas Data Monetization market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Oil And Gas Data Monetization market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In November 2019, Oracle announced a new cloud-native deployment option for BRM. An improved deployment model provides a modern monetization solution to capture opportunities. The latest version of the BRM solution has been introduced to support new 5G-capable use cases for CSPs.
• In July 2019 Microsoft introduced a new Microsoft Azure service. The new Azure Data Share service is a cloud service. Help organizations share internal data. The company focuses on providing services that allow its customers to share data to comply with regulations and privacy policies.

Major Market Segments Covered in Oil And Gas Data Monetization Industry Research:

Market Key Players:
Halliburton, Schlumberger, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, And Others.

By Type:

• Data-as-a-service
• Professional Services
• Software/Platform
• Other

By Application:

• National Oil Companies (NOCs)
• Independent Oil Companies (IOCs)
• National Data Repositories (NDRs)
• Oil and Gas Service Companies
• Other

• Indirect Data Monetization
• Direct Data Monetization
• Other

By Region:

North America holds 34% of the global market share and is expected to continue to dominate throughout the forecast period. Growing oil production and shale gas activities, which are expected to increase demand for indirect data monetization to achieve superior operational efficiencies, are fueling the growth of the oil and gas data monetization market in the region. Meanwhile, the Middle East & Africa region is expected to hold a 26% share of the global oil and gas data monetization market. Large proven oil reserves in Saudi Arabia, Iran, Iraq, Kuwait, and the UAE provide opportunities to drive the growth of the oil and gas data monetization market in these regions. There are significant growth opportunities for the adoption of both indirect data monetization (i.e., software and services to drive insights for developing these repositories) and direct data monetization (primarily exploration data products). The use of seismic and geophysical surveys and software solutions conducted in the region to find new exploration sites and their potential will continue to drive the market over the forecast period.

Market Dynamcs:

Growth Factors 

One of the main things that will drive the growth of the oil and gas data monetization market over the next few years is the improvement of technology in Big Data and business analytics. Industry 4.0 has also paved the way for a new era of competitiveness, which is also driving the demand for the oil and gas data monetization market. This implementation is a big part of how oil and gas companies are able to deal with the challenges of their industry and improve their operational and maintenance needs.

Also, the adoption of IoT solutions that are built around applications like factory optimization, predictive maintenance, and supply chain automation is giving the oil and gas data monetization market a chance to grow. Oil and gas companies are always turning the large amount and variety of data they have into intelligence to improve the performance of their assets.

Real-time analysis is used to find the value in the unstructured data that sensors in the oil field gather. Oil and gas companies use predictive and prescriptive analytics a lot to make money and cut costs by turning this data into valuable assets. During the study period, this factor is expected to help the market grow.

Opportunities 

One of the main things that makes the oil and gas data monetization market grow is the rise in the number of oil and gas companies around the world. The growth of the market is sped up by the growing use of big data technologies to collect, manage, and gain new insights, as well as the growing demand for data monetization technologies that can help key players improve their business operations and become more competitive.

Also, the introduction of open standards and centralised data management for seamless integration and operation across a number of pipeline operation systems, as well as the high use of these operation systems for simulation, measurement, and asset management, will have an effect on the market over the analysis period.

Also, the oil and gas data monetization market benefits from more systems being available, faster digitization, more people using the Internet of Things, and a lot of data being made. During the forecast period, market players will also have more chances to make money from the growing use of AI for data processing.

Challenges 

Integration of oil and gas data monetization solutions with existing legacy infrastructure and lack of awareness about the use of advanced technologies are likely to slow the growth of the oil and gas data monetization market.

Other things that could slow the growth of the market include the different ways that regulatory policies are set up and the fact that not enough people know that interventions are needed.

During the forecast period, the oil and gas data monetization market will also have to deal with a rise in the complexity of data structures and concerns about privacy and data.

Oil And Gas Data Monetization Market report scope:

Crucial Points from this Oil And Gas Data Monetization Report

• Estimate Oil And Gas Data Monetization market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Oil And Gas Data Monetization market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.