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Oil and Gas Cloud Applications Market by Type of Application, Major Sector, Deployment Model, Business Function - Global Forecast to 2022

Oil and Gas Cloud Applications Market: Global Forecast until 2022

  • November 2017
  • 144 pages
  • ID: 5223265
In this report:
The sales business function is expected to have the second largest market share in the oil and gas cloud applications market and is projected to grow from USD ##.## million in 2017 to USD ##,##.## million by 2022, at a CAGR of ##.##% during the forecast period.
The global oil and gas cloud applications market is expected to grow from USD ##.## billion in 2017 to USD ##.## billion by 2022, at a CAGR of ##.##% during the forecast period.

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Major slump in oil prices forcing firms to embrace cost-effective cloud solutions is one of the main drivers of the oil and gas cloud applications market

The oil and gas cloud applications market size is forecasted to grow from ~$3.3B in 2017 to ~$5.7B by 2022, at a Compound Annual Rise rate of 11.30 percent during the forecast period. Main slump in oil prices forcing firms to take cost-effective cloud solutions and the emergence of big data and advanced analytics are top factors driving the oil and gas cloud applications market. Nevertheless, growing data security concerns and regulatory and compliance challenges are main restraints for the increase of oil and gas cloud applications market.

CRM application type is forecasted to hold the biggest industry size in 2017 in the oil and gas cloud applications market

The CRM application type has always been one of the more considerable deployed tools by any market, as the software facilitates businesses to rise their sales, automate marketing processes, and offer unparalleled customer services. In the oil and gas sector, the application is deployed intensively, and thus, has a very high market share. The need for real-time access to data is quickly driving the sector for cloud CRM applications. Together with the traditional applications for marketing, and sales intelligence and automation, cloud CRM applications also include advanced applications, including social media and customer engagement management, and collaborative CRM applications.

Asia Pacific (APAC) is anticipated to grow at the highest compound annual growth rate (CAGR) in the oil and gas cloud applications market by area

Main countries providing to the rise of the oil and gas cloud applications market in Asia-Pacific are China (CN), India (IN), Malaysia (MY), Australia (AU), Thailand (TH), Singapore (SG), Japan (JP), and Vietnam (VN). Asia-Pac continues to witness rampant urbanization and industrialization, which has significantly increased the global oil and gas consumption. Home to over 60.0 percent of the total overall population, Asia-Pacific is forecasted to be consuming approximately 25.0 percent of the overall oil supply. The area is forecast to record the maximum growth rate in the oil and gas cloud applications market, as institutions in Asia-Pac are looking for new ways to incorporate cloud applications, mostly in upstream and midstream markets.

The global trend witnessed in the Asia-Pacific regions is quite favorable for the digitalization of technologies, adoption of IoT, and other smart city projects. Cloud adoption has witnessed an ultra-growth, embraced by diverse verticals, including BFSI, healthcare, telecommunications, and oil and gas. For example, Microsoft witnessed a triple-digit Y-o-Y increase for its cloud platform, Azure, in the first 10 months of 2016.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. The break-up of profile of primary members taking part is like:

• By Organization: Tier 1 - 20.0 percent, Tier 2 -10.0 percent, and Tier 3 -70.0 percent

• By Description: C-suite - 20.0 percent, D-level - 19.0 percent, and Others - 61.0 percent

• By Area: North America (NA) - 20.0 percent, EU - 10.0 percent, and Asia-Pacific - 70.0 percent

The document breaks down the oil and gas cloud applications market based on types of applications (customer relationship management [CRM], enterprise content management [ECM] and collaboration, enterprise resource planning [ERP], supply chain management [SCM], human capital management [HCM], data analytics, project and portfolio management, governance, risk, and compliance [GRC], and others); main market (upstream, midstream, and downstream); deployment model (public cloud, private cloud, and hybrid cloud); organization size (small and medium-sized enterprises [SMEs], and big enterprises); business function (marketing, sales, finance, operations, and others); and territories (North America continent, Europe (EU), Asia-Pac, Middle East (ME) and African continent [MEA], and Latin America area).

Reasons to Buy the Report

• To get a comprehensive overview of the overall oil and gas cloud applications market

• To benefit wide-ranging information about the top actors in this sector, their products review, and the best strategies approved by them

• To benefit business insights into the main countries/localities, in which the oil and gas cloud applications market is flourishing across industry verticals

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