Big Data and Oil industry has some drastic similarity. Just like crude oil, if not refined properly, cannot be sold in open market at profit. Likewise, data without processing will remain crude and cannot help in making informed decision.
Finding and producing Hydrocarbons, Metals and Minerals are economically risky and technically challenging task. The process generates huge amount of data, and the exploration and mining industry needs new ways to integrate and interpret this data to make faster and accurate decisions. A well-organized data help finding new resources, rapid recovery rates and reducing impacts on environment.
Oil exploration and mining industry combined is 5 trillion-dollar industry and have an exponential growth rate as the demand for both is never ending. With some regulatory constraints and decrease in availability this sector need to find means to decrease expenses so as to make the extraction affordable and keep the cost under control. So they have started using big data so as reduce the cost in exploration and finding the right place to search for along with this they are also using it in operational activity to reduce expenditure.
The objective of this research study is to understand the current big data in Oil exploration and mining industry and to estimate the growth rate for the next 5 years. The report covers the detailed analysis of 4 companies- their value chain, financial performance, and forecast, Business strategy, SWOT analysis which are involved in selling products and services in big data to the oil exploration and mining industry and having presence across different regions of the world. The details of the company and certifications are also mentioned in this report.
The big data in oil exploration and mining industry is currently valued at USD XX billion. It is expected that the market will grow at a CAGR of 11.01% and will reach USD XX billion by the year 2021. Delivering quality services, understanding exploration process, improving operational efficiency and rising demand for data driven decision making are some of the key factors which will drive the growth of this industry.
This report concludes by analysing the industry through PESTLE, porters 5 forces and SWOT, discusses the challenges faced by the new players entering the industry and present and future trends observed. Strategic recommendations are also discussed separately and in detail for oil exploration and mining companies as well as big data service suppliers.
Scope of Big Data in Global Oil & Gas and Mining Market Report
– This report provides a detailed view of big data in Oil exploration and mining market with the current market value as well as projections for future market potential and growth rate.
– This report identifies the need for big data in Oil exploration and mining industry
– This report provides detailed information on the value chain as well as the different market segments and their segment wise market share and growth potential.
– This report provides detailed information on geography wise growth forecasts for big data in Oil exploration and mining industry globally by 2021.
– This report identifies the growth drivers and inhibitors for big data in Oil exploration and mining industry
– This report has detailed profiles of 4 key players in the big data in Oil exploration and mining industry covering their business strategy, financial performance, future forecasts and SWOT analysis
– This report identifies the key industry bodies and associations and their role in Indian Oil exploration and mining market.
– This report provides PEST (political, economic, social and technological) analysis for big data in Oil exploration and mining industry.
– This report provides porters five forces analysis for big data in Oil exploration and mining industry
– This report provides SWOT (strength, weaknesses, opportunities, threats) analysis for big data in Oil exploration and mining industry.
For more details visit: https://www.marketresearchreports.com/navadhi/big-data-global-oil-gas-and-mining-market-2021
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