35% of Growth to Originate from APAC for Digital Transformation Market in the Oil and Gas Industry | Evolving Opportunities with Emerson Electric Co. & General Electric Co. |17000+ Technavio Report
NEW YORK, Dec. 22, 2021 /PRNewswire/ -- 35% of the growth will originate from APAC for the digital transformation market in the oil and gas industry. China and India are the key markets for digital transformation in the oil and gas industry in APAC. Market growth in APAC will be faster than the growth of the market in other regions. Increasing investments by oil and gas companies in advanced technologies to secure long-term profitable growth will facilitate the digital transformation market in the oil and gas industry growth in APAC over the forecast period.
The digital transformation market in the oil and gas industry is expected to grow by USD 43.62 billion from 2020 to 2025. However, the growth momentum market is expected to decelerate at a CAGR of 17.38% as per the latest report by Technavio
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Read the 120-page report with TOC on "Digital Transformation Market in the Oil and Gas Industry Analysis Report by Technology (IoT, E&P software, Big data, cloud computing, and others) and Geography (North America, APAC, MEA, Europe, and South America), and the Segment Forecasts,2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/digital-transformation-market-size-in-the-oil-and-gas-industry-analysis
Digital Transformation in the Oil and Gas Industry - Driver & Challenge
The digital transformation market in the oil and gas industry is driven by the rise in investments and partnerships. However, factors such as lack of skilled labor may impede market growth. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Digital Transformation in the Oil and Gas Industry - Revenue Generating Segment
The digital transformation market share growth in the oil and gas industry by the IoT segment will be significant for revenue-generating. The increasing need for transparency in operations and tighter controls on production and distribution are driving oil and gas operators to adopt wireless IoT technology to enhance and optimize the production and distribution chain. The implementation of IoT is projected to transform the oil and gas industry at a rapid pace. The deployment of IoT solutions across the value chain aids the oil and gas industry in the form of downstream sensors to surface control valves with real-time data analysis. Thus, with IoT solutions, oil and gas organizations are enhancing their operations, making better decisions, and creating a safer working environment along the entire value chain.
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Some of key Digital Transformation in the Oil and Gas Industry Players:
The digital transformation market in the oil and gas industry is fragmented and the vendors are increasingly opting for technological innovations and partnerships to compete in the market.
- Emerson Electric Co.
- General Electric Co.
- Intel Corp.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- Rockwell Automation Inc.
- SAP SE
- Tata Consultancy Services Ltd.
- Teradata Corp.
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Digital Transformation Market In The Oil And Gas Industry Technology Outlook (Revenue, USD bn, 2020-2025)
- IoT - size and forecast 2020-2025
- E&P software - size and forecast 2020-2025
- Big data - size and forecast 2020-2025
- Cloud computing - size and forecast 2020-2025
- Others - size and forecast 2020-2025
Digital Transformation Market In The Oil And Gas Industry Geography Outlook (Revenue, USD bn, 2020-2025)
- North America - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- South America - size and forecast 2020-2025
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Digital Transformation Market In The Oil And Gas Industry Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Decelerate at a CAGR of 17.38% |
Market growth 2021-2025 | USD 43.62 billion |
Market structure | Fragmented |
YoY growth (%) | 15.38 |
Regional analysis | North America, APAC, MEA, Europe, and South America |
Performing market contribution | APAC at 35% |
Key consumer countries | US, China, Russian Federation, Saudi Arabia, and India |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Emerson Electric Co., General Electric Co., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Rockwell Automation Inc., SAP SE, Tata Consultancy Services Ltd., and Teradata Corp. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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