Exploration & Production (E&P) Software Market – North America to Lead Global Market as Investments in Exploration of Shale Gas Improve

The top three leading players in the global exploration and production (E&P) software market are Schlumberger Limited, Paradigm B.V., and Landmark Solutions. As of 2015, these companies collectively held a share of 16.4% in the overall market. The promising players in the global market are projected to dedicate their investments and research and development activities to developing new technologies in the coming years. To remain relevant and competitive, companies will also focus on making their software feature-rich.

Focus on Unconventional Gas Resources Drives Global Market

The market is also driven by the increasing exploration level of unconventional gas resources worldwide. In recent years, the depletion of conventional gas sources has motivated several companies to focus on unconventional sources. Extraction of unconventional gas sources requires the use of latest software and technologies for ensuring horizontal drilling. This has also reduced the carbon footprint of the oil and gas industry. Furthermore, the valuable additions to the technological advancements have driven the usage of oilfield equipment that use exploration and production software across the globe. The market’s growth is currently restricted by the fluctuating oil and gas prices worldwide.

In terms of exploration and production software types, the market has been segmented into resource valuation, risk management mapping, portfolio aggregation, seismic amplitude analysis, navigation system, performance tracking, reservoir characterization, drilling, reservoir simulation, and production. In 2015, the market was led by reservoir simulation software which accounted for approximately 20% of the global market revenue. Analysts anticipate that production software will also be a leading software segment in the global exploration and production market during the forecast period of 2016 to 2024.

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Global Exploration and Production Software Market: Segmentation Analysis

Based on different deployment options for E&P software, the report segments the Exploration & Production (E&P) Software market into on-premise and cloud-based software. On the basis of operation type, the market has been segmented into on-shore and off-shore. The market has further been classified into several E&P software types such as risk management mapping, seismic amplitude analysis, portfolio aggregation, performance tracking, navigation system, resource valuation, reservoir characterization, reservoir simulation, drilling and production. Moreover, the software type segments mentioned above has further been classified into different software types and analyzed throughout the report. In terms of geography, the global exploration and production (E&P) software market is classified into North America, Europe, Middle East & Africa, and South America.   

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North America to Lead Global Market as Investments in Exploration of Shale Gas Improve

In terms of geography, the global exploration and production software market is fragmented into Asia Pacific, the Middle East and Africa, Europe, and South America. Of these regional markets, North America held a share of 34% in the global market in 2015. The North America exploration and production software market is projected to continue its dominance throughout the forecast period due to rising investments in shale gas in the U.S. The report also suggests that the Middle East and Africa market is also expected to witness maximum growth rate during the forecast period. The growing number of offshore developments across the Middle East and Africa have been identified as the top driving factors.

The key operating players in the global exploration and production software market are Schlumberger Limited, Paradigm B.V., ION Geophysical Corporation, ETL Solutions Ltd., Exprodat Consulting Ltd., Landmark Solutions, Baker Hughes Incorporated, IHS Inc., Emerson Electric Co., Computer Modelling Group Ltd., Kongsberg Gruppen ASA, GE Oil & Gas, Pason Systems Corp., Ikon Science Limited, GEPlan Consulting Srl, Interactive Network Technologies, Inc., Peloton, Petroleum Experts Ltd., RockFlow Dynamics, LLC, OVS Group LLC, P2 Energy Solutions, Petrolink Services, Inc., EDrilling AS, and TDE Group GmbH.

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