Global Exploration and Production Accounting System Software Market

Global Exploration and Production Accounting System Software Market is expected to reach US$ 14.7 Bn by 2024 from US$ 3.5 Bn in 2016 at a CAGR of 18.9%. Exploration and Production Accounting System Software Market is segmented by deployment type, operation type, software type, industry vertical and geography. The deployment type is further divided into cloud-based and on-premises software. The market based on operation type is categorized into on-shore and offshore operations. The on-shore operations are expected to lead the market for exploration and production management software. The off-shore segment is expected to grow at a stable rate during the forecast period. This is due to longer timeline required for off-shore operations than on-shore operation and new innovations have boosted the onshore operations industry. The exploration and production accounting system software market based on software type is segmented into performance tracking, risk management mapping, the navigation system, portfolio aggregation, process safety & control system, resource valuation, reservoir simulation & characterization, drilling, production & others. The market based on industry vertical is categorized into oil and gas, refining, mining, petrochemicals, chemicals & others. The oil & gas industry vertical is leading the market for exploration and production management software and is expected to grow at the highest CAGR during the forecast period. The largest volumes of products of the oil and gas industry are fuel oil and gasoline and due to the large demand of the fuel oil and gasoline from the developed and developing countries and it is integral to many industries these factors are contributing to the growth of oil and gas industry. Geographically, the exploration and production accounting system software market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to be one of the largest markets for exploration and production accounting system software during the forecast period. This is due to the large oil and gas industry and the presence of major players such as Schlumberger Limited (US), Interactive network technologies, Inc. (US) and others. The Asia Pacific is expected to witness high growth during the forecast period due to the increasing industrialization and growing oil & gas industry in this regions Key players operating in the market are Schlumberger Limited, ION Geophysical Corporation, Interactive Network Technologies, Inc., Paradigm Geophysical BV, Petroleum Experts Ltd., ETL Solutions Ltd., GEPlan Consulting S.r.l., GE Oil & Gas, P2 Energy Solutions, Etech International, Inc., eDrilling AS, Honeywell, Inc. The Scope of Global Exploration and Production Accounting System Software Market: Global Exploration and Production Accounting System Software Market by Deployment type: • Cloud-based Software • On-premise Software Global Exploration and Production Accounting System Software Market by Operation Type: • On-shore • Off-shorefor more info of reports-

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