Global Oil and Gas Exploration Outlook (2014-2022)
The Global Oil and Gas Exploration market is valued at $24.4 billion in 2014 and is expected to reach $36.7 billion by 2022 with a CAGR of 5.23% during forecast period of 2014-2022. Oil exploration companies are exploring for oilfields to fulfill the gap between supply and demand. The exploitation of development of unconventional oil and gas reserves and deep-water reserves is being followed by the majority of oil and gas companies. This exploitation requires IT infrastructure, data analysis and consultation service to optimize performance and maintain safety standards.
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Global Oil and Gas Exploration market is mainly segmented by Type, by Application and by Geography. Based on Type, market is segregated into Data Organization, Services, and IT Infrastructure. Based on Application, market is classified into Downstream, Midstream, and Upstream. Oil and Gas Exploration market, by geography is categorized into North America, Europe, Asia Pacific and Rest of the World.
The key players in the Oil and Gas Exploration market include, SAS Institute, IBM, Cisco Systems, Inc., Wipro Limited, Hewlett-Packard, SAP SE, EMC Corporation, Hitachi, Ltd., and Oracle Corporation.
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