IT Spending Market in the Oil and Gas Industry 2020

The oil and gas industry includes processes of hydrocarbon exploration, extraction, refining, and transportation. The finished product is transported by tankers and pipelines and is subsequently marketed. The industry's largest volume products are fuel oil and gasoline. Products such as petroleum are often used as the raw material to manufacture fertilizers, solvents, pharmaceuticals, plastics, and pesticides. The overall industry is divided into three major components, upstream, midstream, and downstream operations. The oil and gas industry has exerted significant efforts to boost operational efficiency and reduce costs. To that end, information technologies have emerged as a core component of almost all industry operations, from extraction to logistics and sales.

Publisher's analysts forecast the Global IT Spending in Oil and Gas Industry to generate revenues of USD 48.54 billion during the period 2016-2020.

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to comply with government regulations and protect intellectual property, several oil and gas companies are developing their IT infrastructure to control, monitor, and secure their critical information. Various IT companies such as CSC and IBM offer security solutions to the oil and gas sector so that these sectors can focus on their major administrative functions and primary business functions. The key security solutions include security risk management, data and network protection, and secure communication systems. The growing provision of security solutions in the oil and gas sector will, in turn, increase the deployment of IT solutions in this industry over the next few years.

Key vendors
- Dell
- IBM
- Infosys
- SAP

Other prominent vendors
- ABB
- Alcatel-Lucent
- Capgemini
- CGI Group
- Cisco Systems
- CSC
- GE Oil and Gas
- Hitachi

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Market driver
-Growing adoption of IT Spendings in retail
-For a full, detailed list, view our report

Market challenge
-High initial investment and cost of production
-For a full, detailed list, view our report

Market trend
-Emergence of distinct IT Spendings
-For a full, detailed list, view our report

Fundamentals of Table of Content:

PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Global construction market
PART 06: Market drivers
PART 07: Market trends
PART 08: Global AEC market
PART 09: Market segmentation by product
PART 10: Geographical segmentation
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Five forces model
PART 14: Key vendor analysis
PART 15: Key vendor profiles

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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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Posted by Rajat Sahni on Thursday February 22 2018, 3:15 AM EST. All trademarks acknowledged. Filed under Uncategorized. Comments and Trackbacks closed. Follow responses: RSS 2.0