Global Smart Oilfield IT Services Market 2015-2019

LONDON, June 24, 2015 /PRNewswire/ -- About Smart Oilfield IT Services
With the presence of volatile market conditions, global energy requirements are continuing to rise, creating challenging competitive environment for companies in the O&G sector. Forecasting and budgeting have become extremely difficult in the face of ongoing price volatility and many other uncertainties in the oil sector. The challenging environment has forced companies to look for innovative, upstream oil technologies. Furthermore, the volume and detail of data generated in exploration and production need to be put into better use so that the O&G companies can gain value from the same and act upon the insights generated by data produced during exploration and production.
Smart oilfield services comprise IT services, including IT consulting, business consulting, integrating services, and outsourcing services. The implementation of these services enables companies to increase production, improve recovery rates, and cut capital and operating expenses. In addition, the time-to-value also gets enhanced with the implementation of these services.
Technavio's analysts forecast the global smart oilfield IT services market to grow at a CAGR of 5.93% over the period 2014-2019.

Covered in this Report
The global smart oilfield IT services market is segmented on the basis of geography.
Technavio's eport, Global Smart Oilfield IT Services Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.

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