The report, now available on ASDReports, recognizes the following companies as the key players in the Global IT Spending in Oil and Gas Industry: Dell, IBM, Infosys, and SAP.
Other Prominent Vendors in the market are: ABB, Alcatel-Lucent, Capgemini, CGI Group, Cisco Systems, CSC, GE Oil and Gas, Hitachi, Huawei Technologies, Indra Sistemas, HCL Technologies, Oracle, Siemens, TCS, Tech Mahindra, and Wipro.
Commenting on the report, an analyst said: “A noteworthy trend is the development of digital oil field frameworks. The need to boost production and asset performance has enabled oil and gas enterprises to automate workflows and integrate business processes across upstream operations. It has prompted the integration of information technologies that enable better collaboration and real-time operations. The digital oil field basically comprises technology-centric solutions that help enterprises to leverage limited resources.”
According to the report, a key growth driver is the enhanced efficiency of resources. The adopted methodologies for consistent monitoring generate more than a terabyte of data by a single field per day. This has created a requirement for reliable and consistent data access and analysis. Data is collected to measure pump performance, pressure changes, fluid composition, and temperature changes. Such data is complex and voluminous and the transferring of such forms of data across unconnected, disparate architecture often slows down interdepartmental communications. However, an IT-enabled approach helps deliver business value by enabling companies to turn raw data into actionable information.
Further, the report states that one challenge that could hamper market growth is the increased complexity of the operations process.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: May 18, 2016