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U.S. Oil & Gas Analytics Market Size - By Deployment (On-premise, Hosted), By Service (Professional, Cloud, Integration), By Application (Upstream, Midstream, Downstream) & Global Forecast Report, 2023 – 2032

  • Report ID: GMI4418
  • Published Date: May 2023
  • Report Format: PDF

U.S. Oil & Gas Analytics Market Size

U.S. Oil & Gas Analytics Market size surpassed USD 1.5 billion in 2022 and is anticipated to grow at 24.6% CAGR from 2023 to 2032 owing to growing focus on mature oil fields and improving exploration of unconventional wells. In addition, the implementation of artificial intelligence and machine learning in oil and gas analytics platforms enables the acquisition of real-time data, resulting in a 6% to 8% improvement in efficiency.


U.S. Oil & Gas Analytics Market

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Analytics has offered various solutions to industry players to respond to the volatile price environment and technically challenging operations across unconventional fields. The prevailing shale discoveries of new oil fields across the Permian Basin in the U.S. along with growing demand for natural gas have unlocked huge industry growth prospects. It has enabled the companies to incline toward artificial intelligence and machine learning for optimizing its ongoing operations and to assess huge data generated from various assets including pipelines, refineries, drilling rigs and production platforms.


COVID-19 Impact

The COVID-19 pandemic had a detrimental effect on the U.S. economy in recent years. Most of the industries experienced disruptions due to strict government lockdown measures that led to operational shutdowns. The pandemic enforced retailers to cease their business operations for a certain period where, refineries operated at reduced capacity and declined its sales performance. However, the United States oil & gas analytics market has since rebounded, with full-capacity operations worldwide creating an ideal environment for oil and gas companies to invest in digitalization.


U.S. Oil & Gas Analytics Trends

The oil & gas industry has witnessed a significant transformation toward digitization over the past few years, where analytics has gained a clear recognition. Cost reduction, workforce productivity, operational optimization and better decision-making are some of the key results offered by advanced analytical solutions. The companies are generating massive amounts of data through investments in big data platforms, IoT devices, and sensors that are required to be analyzed to draw meaningful insights.


Moreover, increasing awareness about digital oilfields and the transformation of exploration, drilling, and transportation operations will propel U.S oil & gas analytics market. Furthermore, the continued oil production growth is being simultaneously reinforced with several other factors sustaining the investment potential in the oil & gas industry.


U.S. Oil & Gas Analytics Market Analysis

U.S. Oil & Gas Analytics Market Size, By Deployment, 2021 - 2032 (USD Billion)

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The hosted segment held a striking market value of over USD 800 billion in 2022. The utilization of big data has led to better management of assets, operations, manufacturing, and worker safety. In recent years, the industry has experienced a notable shift toward the adoption of hosted services for collecting real-time data at a reduced cost, thereby enhancing production efficiency.


Key players in U.S oil & gas analytics market are investing heavily in research and development to increase digitalization in their operations, which is expected to lead to production methods and optimal exploration. The industry is often confronted with supply-demand imbalances due to the absence of proper analytical tools to aid demand forecasting.


The oil & gas analytics industry is anticipated to witness a favorable growth as companies strive to achieve reduced maintenance and operational expenses. The sector has witnessed a rise in the utilization of analytical services owing to strict government regulations and mandates that emphasize safety during upstream, midstream, and downstream operations. Additionally, escalating private and public investments in digitalization and analytical tools to enhancing workforce efficiency and reducing costs will further sway the industry scenario.


U.S. Oil & Gas Analytics Market Share, By Service, 2022

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The cloud analytics services captured a dominant market share of more than 30% in 2022. The utilization of these services in the oil and gas industry assists companies in gathering and interpreting insights that support to make investment decisions and reducing costs. The industry's complex ecosystem, unstructured operations, and inefficient use of resources have influenced toward the oil & gas analytics market development. The cloud deployment model allows the industry to leverage analytical services without setting up digital infrastructure, resulting in cost-efficient operations.


The U.S. held a 24% of the global oil & gas analytics industry share in 2022. Ongoing investments in digitalization tools in line with deployment of highly efficient technology systems by several companies will  bolster the product penetration in the market. Increasing espousal of analytical solutions to boost cost-effectiveness and labor productivity coupled with rising capital expenditure in the O&G industry will positively influence the market growth.


U.S. Oil & Gas Analytics Market Share

Some of the major market players operating across the U.S. oil & gas analytics market are :

  • SAP SE
  • Microsoft
  • Oracle
  • Cognizant
  • Accenture
  • Cisco Systems Inc.
  • Cloud Software Group, Inc
  • Teradata,IBM
  • IBM
  • Hitachi ,Ltd.
  • SAS Institute Inc.
  • Capgemini
  • Hewlett Packard Enterprise Development LP
  • Deloitte
  • Enverus.

These players focus on mergers and strategic partnerships for business expansion. Morover, these players are increasingly investing in research & development activities, which enable them to introduce innovative services and garner maximum revenue in the market.


U.S. Oil & Gas Analytics Industry News:

  • In March 2022, SAP announced the availability of experience-driven offering to process analytics. The new solution correlates experience data from suppliers, employees, and customers with underlying IT systems, which provides companies the ability to understand the way to optimize end-to-end business processes for both customer experience and operational excellence.

  • In November 2021, Oracle launched a new AI-driven analytics solution that provides business leaders the insights required to enhance supply chain performance and increase its impact on the bottom line. The solution offers Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) clients the insights required to understand, detect, and resolve problems quicker throughout the supply chain. Oracle Fusion SCM solution supplies pre-built dashboards & metrics and leverages ML to assist supply chain and business leaders reduce risks, control costs, drive revenue, and ensure customer satisfaction.

This U.S. oil & gas analytics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

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Market, By Deployment

  • On-premise
  • Hosted

Market, By Application,

  • Upstream
    • Exploration and Drilling Analytics
    • Field Surveillance and Monitoring Analytics
    • Production Planning and Forecasting Analytics
    • Equipment Maintenance & Management Analytics
    • Asset Performance Analytics
    • Workforce Management Analytics
  • Midstream
    • Pipeline SCADA
    • Fleet
    • Storage optimization
  • Downstream
    • Commodity Trading
    • Demand Forecasting
    • Pricing
    • Refining

Market, By Service

  • Professional
  • Cloud
  • Integration


Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of U.S. oil & gas analytics exceeded USD 1.5 billion in 2022 and is projected to expand at 24.6% CAGR from 2023 to 2032 due to rapid integration of advanced technologies such as AI and ML in oil and gas analytics platforms and subsequent improvement in operational efficiency.

Hosted oil & gas analytics industry in U.S. crossed USD 800 billion in revenue in 2022 and is estimated to accumulate a decent market share by 2032 led by an extensive utilization of big data resulting in improved worker safety and better management of manufacturing, operations, and assets.

The cloud segment accumulated 30% of the industry share in 2022, owing to the increased emphasis on analytical services across the industrial space to gather and interpret insights to make informed investment decisions.

Key players in the U.S. oil & gas analytics industry are SAP SE, Microsoft, Oracle, Cognizant, Accenture, Cisco Systems, Inc., TABLEAU SOFTWARE, LLC, Cloud Software Group, Inc., Teradata, IBM, Hitachi, Ltd., SAS Institute Inc., Capgemini, Hewlett Packard Enterprise Development LP, Deloitte, and Enverus.

U.S. Oil & Gas Analytics Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 81
  • Countries covered: 1
  • Pages: 120
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