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Oil And Gas Data Monetization | Contrive Datum Insights
Oil and Gas Data Monetization Market Size, Share, and Trends Estimation Report By Type (Data-as-a-service, Professional Services, Software/Platform), By Applications (National Oil Companies (NOCs), Independent Oil Companies (IOCs)), By Method (Indirect Data Monetization, Direct Data Monetization), By Region, And Segment Forecasts, 2022 - 2030
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Global Oil And Gas Data Monetization Market from US$ 40.3 Billion in 2022 To Reach US$ 65.12 Billion 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 2022 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
- Others.
- Halliburton:Halliburton is a leading provider of oilfield services and solutions.The company offers data management and analytics solutions to help oil and gas companies extract value from their data assets.Halliburton's offerings include data integration, visualization, and interpretation tools to optimize operational performance.
- Schlumberger:Schlumberger is a prominent provider of technology and services to the oil and gas industry.The company offers data-driven solutions and software platforms for reservoir characterization, drilling optimization, and production management.Schlumberger's services help oil and gas companies leverage their data for efficient decision-making and operational improvements.
- Informatica Corporation:Informatica Corporation is a leading data integration and management company.The company provides data integration, data quality, and master data management solutions.Informatica's offerings enable oil and gas companies to integrate and manage their data assets for effective decision-making and monetization opportunities.
- SAP SE:SAP SE is a multinational software corporation that offers enterprise software solutions.The company provides oil and gas-specific software solutions, including data management and analytics tools.SAP's solutions help oil and gas companies leverage their data assets for operational excellence, supply chain optimization, and revenue growth.
- Oracle Corporation:Oracle Corporation is a global technology company that offers a range of software and services.The company provides data management solutions tailored for the oil and gas industry.Oracle's offerings enable companies to unlock the value of their data, drive insights, and monetize their data assets.
By Type:
- Data-as-a-service
- Professional Services
- Software/Platform
- Other
- Data-as-a-Service:
- Data-as-a-Service (DaaS) refers to the provision of data on a subscription or pay-per-use basis.
- In the oil and gas industry, DaaS providers offer access to curated datasets, market intelligence, and analytics-ready data.
- DaaS enables oil and gas companies to access external data sources and enrich their internal data for analysis and decision-making.
- Professional Services:
- Professional services in the oil and gas data monetization market encompass a range of consulting, implementation, and support services.
- These services may include data strategy development, data governance, data integration, data quality management, and data analytics.
- Professional service providers assist companies in defining their data monetization goals, implementing data management frameworks, and driving insights from data.
- Software/Platform:
- Software and platforms play a crucial role in enabling data monetization in the oil and gas industry.
- These offerings encompass data management platforms, analytics software, visualization tools, and data integration solutions.
- The software/platform providers equip oil and gas companies with the necessary tools and infrastructure to store, process, analyze, and derive insights from their data assets.
- Other:
- The "Other" category in the oil and gas data monetization market may include additional offerings such as data marketplaces, data exchanges, and specialized data analytics solutions.
- Data marketplaces facilitate the buying and selling of data assets, allowing companies to monetize their data through partnerships or direct sales.
- Data exchanges act as intermediaries, connecting data providers and data consumers to facilitate data monetization opportunities.
By Application:
- National Oil Companies (NOCs)
- Independent Oil Companies (IOCs)
- National Data Repositories (NDRs)
- Oil and Gas Service Companies
- Other
- National Oil Companies (NOCs):
- National Oil Companies refer to state-owned companies responsible for oil and gas exploration, production, and distribution in a country.
- NOCs can leverage data monetization to optimize their operations, enhance decision-making, and drive revenue growth.
- Data monetization in NOCs can involve the utilization of data assets to identify new exploration opportunities, improve production efficiency, and optimize asset maintenance.
- Independent Oil Companies (IOCs):
- Independent Oil Companies are privately-owned companies engaged in various aspects of the oil and gas industry.
- IOCs can benefit from data monetization by leveraging their data assets to gain insights, optimize exploration and production activities, and identify cost-saving opportunities.
- Data monetization in IOCs can involve the utilization of data for reservoir analysis, production optimization, and predictive maintenance.
- National Data Repositories (NDRs):
- National Data Repositories are organizations responsible for collecting, storing, and managing oil and gas exploration and production data at a national level.
- NDRs can monetize their data by offering access to industry participants, researchers, and technology providers.
- Data monetization in NDRs can involve providing data services, licensing data assets, and facilitating data collaboration and exchange.
- Oil and Gas Service Companies:
- Oil and Gas Service Companies provide specialized services and solutions to the oil and gas industry, such as drilling, engineering, and equipment services.
- These companies generate significant amounts of data during their operations, which can be monetized to offer value-added services and insights to their clients.
- Data monetization in service companies can involve offering data analytics solutions, predictive maintenance services, and performance optimization based on their data assets.
- Other:
- The "Other" category in the oil and gas data monetization market can include additional applications such as research institutions, technology providers, and regulatory bodies.
- Research institutions can monetize their data by collaborating with industry stakeholders or offering data-driven research services.
- Technology providers can offer data analytics platforms, cloud-based solutions, or data management tools to support data monetization initiatives.
- Regulatory bodies can leverage data monetization to drive compliance, monitoring, and oversight in the oil and gas industry.
- 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.
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Belgium
- The Netherlands
- Luxembourg
- Germany
- France
- Italy
- Spain
- UK
- Nordic Countries
- Benelux Union
- Rest of Europe
- Asia-Pacific
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Japan
- China
- India
- Australia
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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.
Dynamics:
- Increasing digitization and automation in the oil and gas industry
- Growing volumes of data generated across exploration, production, refining, and distribution processes
- Rising adoption of advanced technologies such as IoT, AI, and big data analytics in the industry
- Increasing focus on data-driven decision-making and operational efficiency
Restraints:
- Data privacy and security concerns in handling sensitive oil and gas data
- Complex data integration and interoperability challenges across multiple systems and platforms
- Limited awareness and understanding of data monetization opportunities among industry players
- Regulatory and compliance issues related to data sharing and monetization
Trends:
- Growing emphasis on predictive analytics and machine learning for proactive maintenance and optimization
- Shift towards cloud-based platforms and services for efficient data storage, processing, and analysis
- Increasing use of data marketplaces and exchanges for monetizing oil and gas data assets
- Integration of real-time data streams for improved operational insights and decision-making
Drivers:
- Need for cost reduction and operational efficiency in the oil and gas industry
- Growing demand for data-driven insights to optimize production, enhance safety, and reduce downtime
- Rising importance of data monetization as a revenue stream for oil and gas companies
- Emergence of new business models and partnerships centered around data monetization
Challenges:
- Legacy data management systems and processes that hinder effective data utilization
- Lack of skilled personnel with expertise in data analytics and data monetization
- Ensuring data quality, accuracy, and reliability for meaningful insights and monetization opportunities
- Balancing data sharing for collaboration while protecting proprietary and sensitive information
Opportunities:
- Monetizing oil and gas data assets through data-as-a-service (DaaS) models and partnerships
- Leveraging data insights to identify new revenue streams, optimize operations, and improve asset performance
- Collaborating with technology providers and data analytics firms to unlock the value of data
- Exploring opportunities for data monetization in emerging areas such as predictive maintenance, supply chain optimization, and energy trading
Oil And Gas Data Monetization Market report scope:
| Report Attribute | Details |
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Estimated year | 2023 |
| Forecast period | 2023-2030 |
| Historic Period | 2017-2022 |
| Units | Value (USD Billion) |
| Growth Rate | CAGR of 16.45% from 2023 to 2030 |
| By Type |
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| By Application |
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| By Method: |
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| By Companies |
Halliburton, Schlumberger, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, And Others. |
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| Reasons to Purchase this Report |
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Crucial Points from this Oil And Gas Data Monetization Report
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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.
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Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
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Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
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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.
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Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
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Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
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Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
What is the CAGR of Oil And Gas Data Monetization market?
The Oil And Gas Data Monetization Market is growing at a CAGR of 16.45% During Forecast Period.
What are the key types of Oil And Gas Data Monetization market?
Data-as-a-service, Professional Services, Software/Platform, Other
What are the key applications of Oil And Gas Data Monetization market?
National Oil Companies (NOCs), Independent Oil Companies (IOCs), National Data Repositories (NDRs), Oil and Gas Service Companies, Other
Who are the key players in Oil And Gas Data Monetization market?
Halliburton, Schlumberger, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, And Others.
What is the CAGR of Oil And Gas Data Monetization market?
The Oil And Gas Data Monetization Market is growing at a CAGR of 16.45% During Forecast Period.
What are the key types of Oil And Gas Data Monetization market?
Data-as-a-service, Professional Services, Software/Platform, Other
What are the key applications of Oil And Gas Data Monetization market?
National Oil Companies (NOCs), Independent Oil Companies (IOCs), National Data Repositories (NDRs), Oil and Gas Service Companies, Other
Who are the key players in Oil And Gas Data Monetization market?
Halliburton, Schlumberger, Informatica Corporation, SAP SE, Oracle Corporation, Accenture plc, And Others.
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