Dublin, June 08, 2023 (GLOBE NEWSWIRE) -- The "Exploration and Production (E&P) Software - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Exploration and Production (E&P) Software Market to Reach $17.9 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Exploration and Production (E&P) Software estimated at US$5.6 Billion in the year 2022, is projected to reach a revised size of US$17.9 Billion by 2030, growing at a CAGR of 15.7% over the analysis period 2022-2030.
Reservoir Simulation Software, one of the segments analyzed in the report, is projected to record a 18.1% CAGR and reach US$4.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Production Software segment is readjusted to a revised 19.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 20.6% CAGR
The Exploration and Production (E&P) Software market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2030 trailing a CAGR of 20.6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 14.5% and 13.8% respectively over the 2022-2030 period. Within Europe, Russia is forecast to grow at approximately 14.5% CAGR. Led by countries such as India, Indonesia, and Malaysia, the market in Asia-Pacific is forecast to reach US$1.9 Billion by the year 2030.
Select Competitors (Total 97 Featured)-
- Baker Hughes Company
- Deswik Mining Consultants (Australia) Pty Ltd
- Aspen Technology, Inc.
- CARMA International, Inc.
- Altair Engineering, Inc.
- Chetu, Inc.
- Aveva Group PLC
- Appen Ltd.
- Chemstations Inc.
- Acquire Technology Solutions Pty Limited
- Audiense Limited
- Brandster Branding Limited
- Arround Inc.
- CiDRA Corporate Services Inc.
- Ampol Management Services Pte. Limited
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 446 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.6 Billion |
| Forecasted Market Value (USD) by 2030 | $17.9 Billion |
| Compound Annual Growth Rate | 15.6% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Exploration and Production (E&P) Software - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
- Global Oil & Gas E&P Industry Spending (in US$ Billion) for 2015-2021E
- Impact of COVID-19 Pandemic on Oil and Gas Producers in Developing Countries
- Oil and Gas Exploration and Production (E&P): A Prelude
- An Introduction to Exploration & Production (E&P) Software
- Global Market Prospects & Outlook
- Developing Regions Present Growth Opportunities for E&P Software Market
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Ongoing Digitization Efforts of Oil and Gas E&P Players to Boost Market Prospects
- Technology Use in Oil and Gas Industry: % of Companies Using Technology in Operations
- Digital Technologies Set to Change Face of Oil & Gas Industry with Compelling Benefits
- Application of AI in the E&P Industry to Expand, Driving Opportunities for E&P Software
- Rising Importance of Big Data in Finding Value from Geophysical and Geological Data for Oil & Gas Companies
- IoT Technology Expansion Presents Significant Opportunities for E&P Software Market
- Global Oil Demand and E&P Efforts Influence Growth Outlook in E&P Software Market
- Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
- World Average Rig Count by Region (2015-2020)
- Rapidly Depleting Oil & Gas Resources & Subsequent Need to Find New Resources Drive Need for Effective E&P Software
- Global Energy Mix: 1990 Vs 2020 Vs 2030
- Market to Benefit from the Trend towards Exploration of Unconventional Resources & Deep Drilling Projects
- Global Oil Production: Percentage Breakdown of Production by Onshore, Offshore, and Offshore Deep Water Activity for 2010 & 2019
- E&P Software Suitably Placed to Boost Returns & Help Offshore Operators Overcome Investment Hiccup
- Emerging Issues Prompt E&P Operators to Bet High on Well Integrity Management
- Simulation Software Solutions Find Increased Demand in E&P Industry
- Production Software Helps Oil and Gas Companies to Optimize Extraction Activities
- Cloud-based E&P Software Continues to Gain Prominence in E&P Software Market
- Advancements in Digital Technologies & Innovations to Drive Market Opportunities
- Technology Assists Oil and Gas Industry in Becoming Greener
- Volatile Oil Prices: A Major Challenge
- Global Brent Crude Oil Price Trends in US$/barrel: Jun 2020-Apr 2021
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
A selection of companies mentioned in this report includes
- Baker Hughes Company
- Deswik Mining Consultants (Australia) Pty Ltd
- Aspen Technology, Inc.
- CARMA International, Inc.
- Altair Engineering, Inc.
- Chetu, Inc.
- Aveva Group PLC
- Appen Ltd.
- Chemstations Inc.
- Acquire Technology Solutions Pty Limited
- Audiense Limited
- Brandster Branding Limited
- Arround Inc.
- CiDRA Corporate Services Inc.
- Ampol Management Services Pte. Limited
For more information about this report visit https://www.researchandmarkets.com/r/akwobv
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