| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 10.20 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Big Data in Oil and Gas Exploration & Production Market Analysis
The Big Data in Oil & Gas Exploration and Production Market is expected to register a CAGR of greater than 10.2% during the forecast period.
- Big Data integration through software would be the fastest-growing segment in the forecast period as it provides analyses of new reservoirs, drilling activities, and various other things.
- Big data in the oil and gas industry has ample opportunities beyond the forecast period as improvement in technology and increasing dependence on data is expected to support the growth of the market during the upcoming years.
- North America is expected to be the most dominant and largest geographic segment, owing to increasing exploration and production projects in the region.
Big Data in Oil and Gas Exploration & Production Market Trends
Big Data Software to Dominate the Market
- In upstream, big data software is highly utilized to measure and handle large datasets, which include six main characteristics of velocity, variety, volume, veracity, complexity, and value.
- Being involved in analyzing micro-seismic and seismic data, improving reservoir characteristics, improving drilling safety, reducing drilling time, and improving petrochemical asset management are some of the major applications of Big Data software in the upstream oil and gas industry essential for exploration and production.
- Historical drilling and geological data help geologists to understand the reservoir and help them verify assumptions, and make better decisions to explore new wells in the area. Hence, with such technical support, the oil and gas industry produced nearly 88.39 million barrels per day of crude oil in 2020.
- The technology is heavily utilized when the well is in its production phase as it is used in unconventional methods such as enhanced oil recovery, performance forecasting, real-time production analysis, and used to improve the safety of the well.
Understand The Key Trends Shaping This Market
Download PDF
North America to Dominate the Market
- North America has the highest share of involvement of big data in the oil industry as it is driven by high demand for big data solutions in the US shale fields and Gulf of Mexico oil wells.
- Unconventional wells require upwards of USD 100 million of investment to avoid any risk, save time and reduce costs. For instance, Shell PLC uses fiber optic cables for precise location tracking, measuring reservoir properties, and well properties where the data is transferred to its private servers maintained by Amazon Web Services.
- According to the BP Statistical Review of World Energy 2021, shale gas production increased rapidly from 617.4 billion cubic meters in 2011 to 914.6 billion cubic meters in 2020.
- Increasing crude oil prices due to the war between Russia and Ukraine increased exploration and production interests and investment in North America. For instance, Chevron, to boost its production in the region, is developing tight rock and shale assets in the DJ Basin in Colorado, Duvernay Shale in Alberta, and Perma Basin in Texas and New Mexico.
- Overall, increasing investments in the oil and gas upstream sector in the region would drive the big data oil and gas industry in the region.
Get Analysis on Important Geographic Markets
Download PDF
Big Data in Oil and Gas Exploration & Production Industry Overview
Big Data in the Oil and Gas Exploration and Production Market is moderately consolidated. The major companies include IBM Industries, Accenture PLC, Microsoft Corporation, Oracle Corporation, and Hitachi Vantara.
Big Data in Oil and Gas Exploration & Production Market Leaders
-
IBM Industries
-
Accenture Plc,
-
Microsoft Corporation
-
Oracle Corporation
-
Hitachi Vantara
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
Big Data in Oil and Gas Exploration & Production Market News
- Cloud-based technology and solutions have become an essential tool for the energy sector, especially in the Middle East, to store data and analyze it. The COVID-19 pandemic boosted the growing cloud computing in the oil and gas industry in recent years.
Big Data in Oil and Gas Exploration & Production Industry Segmentation
Big Data in the Oil and Gas Exploration and Production report includes:
| Product | Hardware |
| Software | |
| Services | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Need A Different Region or Segment?
Customize Now
Big Data in Oil and Gas Exploration & Production Market Research FAQs
What is the current Big Data in Oil & Gas Exploration and Production Market size?
The Big Data in Oil & Gas Exploration and Production Market is projected to register a CAGR of greater than 10.2% during the forecast period (2025-2030)
Who are the key players in Big Data in Oil & Gas Exploration and Production Market?
IBM Industries, Accenture Plc,, Microsoft Corporation, Oracle Corporation and Hitachi Vantara are the major companies operating in the Big Data in Oil & Gas Exploration and Production Market.
Which is the fastest growing region in Big Data in Oil & Gas Exploration and Production Market?
North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Big Data in Oil & Gas Exploration and Production Market?
In 2025, the North America accounts for the largest market share in Big Data in Oil & Gas Exploration and Production Market.
What years does this Big Data in Oil & Gas Exploration and Production Market cover?
The report covers the Big Data in Oil & Gas Exploration and Production Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Big Data in Oil & Gas Exploration and Production Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Big Data in Oil & Gas Exploration and Production Industry Report
The Big Data in Oil and Gas market is experiencing unprecedented growth, fueled by the surge in data volume, variety, and velocity within the industry. This expansion is driven by the urgent need for innovative technologies to decode and merge a plethora of structured and unstructured data from sources like geological surveys, seismic data, and well logging, underscoring the indispensable role of oil and gas big data analytics. Dominated by software services due to their critical role in data generation and access for decision-making, the market spans across upstream, midstream, and downstream sectors, with upstream demanding extensive data analysis. Key growth drivers include enhancing production and drilling performance, improving decision-making, and navigating the challenges of fluctuating oil prices and stiff competition. Despite the potential, a lack of awareness about the benefits of big data systems remains a challenge. The future looks promising, due to technological advancements and a growing reliance on data for strategic decisions. Coupled with insights from Mordor Intelligence™ Industry Reports on market share, size, and revenue growth rate, including a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
