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Global Exploration & Production (E&P) Software Market Was Valued At Us$ 2.92 Bn In 2016 – Credence Research

Global Exploration & Production (E&P) Software Market Was Valued At Us$ 2.92 Bn In 2016 – Credence Research

Credenceresearch.com has announced the addition of “Global Exploration & Production (E&P) Software Market Was Valued At Us$ 2.92 Bn In 2016 – Credence Research” Market Research Report to their Database.

According to a new market research report published by Credence Research “Exploration & Production (E&P) Software Market (Deployment Model – On-premise and Hosted; Type – Onshore and Offshore; Application – Seismic Processing & Imaging, Data Interpretation & Modeling, Reservoir Engineering, Drilling & Production) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global exploration & production (E&P) software market was valued at US$ 2.92 Bn in 2016.

Browse the full report at http://www.credenceresearch.com/report/exploration-and-production-e-and-p-software-market

Market Insights

Exploration & production (E&P) software refer to set of software solutions designed for the upstream segment of the overall oil & gas industry. These software are developed for a wide array of applications including seismic processing & imaging, mapping, data analysis, reservoir & geological modeling and production planning. Depleting oil & gas resources is one of the major factors fueling the overall E&P software market growth. Due to rapidly exhausting resources, there has emerged an extensive need for discovering new resources for extracting oil & gas products.

The complete report is available at http://www.credenceresearch.com/report/exploration-and-production-e-and-p-software-market

Subsequently, E&P companies now have greater spending on exploration processes, resulting into remarkable demand for related software solutions. In addition, E&P companies are now more emphasized towards minimizing their operational costs in the overall exploration-to-production process. Using E&P software modules enables the companies reduce much of their guesswork and minimize the risk involved in drilling process.

The overall E&P software market is segmented on the basis of deployment model, operation type and application. Based on the mode of deployment, the market is segmented into on-premise and hosted E&P software. As of 2016, the on-premise E&P software segment leads the overall market, in terms of revenue. Further, on the basis of type of operation, the market is categorized into onshore and offshore oil & gas operation. The market is segmented, based on the applications, into seismic processing & imaging, data interpretation & modeling, reservoir engineering and drilling & production.

Exploration & Production (E&P) Software Market

Competitive Insights:

The overall E&P software market is quite competitive in nature with the market players emphasizing on providing up-to-date and seamless software solutions. E&P software vendors focus on providing better support, improved data security and additional functionalities to the existing software solutions. This is typically achieved by working on periodic software/module upgrades so as to ensure the consumers (E&P companies) can efficiently process and visualize the geological data. Additionally, companies are now more inclined towards enhancing their cloud-based offerings due to increasing penetration of the technology. This is experienced as a result of increasing efforts by the E&P towards reducing their IT costs.

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About Credence Research:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Blog URL – http://www.mobilecomputingtoday.co.uk/5187/exploration-production-software-market-valued-2-92-2016-credence-research/

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Website: http://www.credenceresearch.com/report/exploration-and-production-e-and-p-software-market

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