Process Simulation Software in Oil and Gas Market: Overview and Segmentation
Companies in the oil and gas industry have now realized the importance of technology and the strong positive impact that it brings in optimizing the overall operation process. Therefore, the oil and gas industry is significantly embracing and adopting connected technology and analytics technology in order to efficiently manage their operations. This report by Transparency Market Research provides insights to how the ecosystem has evolved over the forecast period spanning a term of ten years, viz. from 2017-2027. Right from adoption analysis of process simulation softwareat oil and gas facilities, the report ensures that a holistic approach for market analysis is adhered to, enabling stakeholders to make informed strategic decisions.
The demand estimates of the process simulation software in the oil and gas industry market have been broadly analyzed by segmenting it on the basis of application, component, and operation type. Based on application, the market has been segmented into upstream, midstream, oil and gas processing, refining, petrochemical, and green engineering. Upstream application is further categorized into flow assurance, fluid properties, production facilities equipment design and analysis and gathering system. Midstream application is further categorized into storage, pipeline integrity, flow dynamics, flow assurance (metering & economics), network analysis & optimization, and pipeline design and analysis & pipeline equipment. Oil and gas processing application is further segmented into oil and gas separation, sulfur recovery, sweetening, CO2 freezing, liquefaction, dehydration, and cryogenic processes. Refining application is bifurcated into crude oil distillation and heavy oil processing. Green engineering is further segregated into HSE system and flaring. In terms of component, the market is segmented into software, and services. Software segment is further categorized into cloud-based and on-premise. Services segment is categorized into consultancy, training, and support. Based on operation type, the market is segmented into onshore, off-shore, heavy oil processing, and unconventional.
The above detailed analysis of market size estimates has been provided for the following geographic segments North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Across each of these regions, top-line market estimates for the U.S., Canada, U.K, Germany, France, China, India, Japan, Australia, GCC, South Africa, Mexico, and Brazil has been included within the research scope.
To further support market analysis and help build deep understanding of growth dynamics, the report provides the following analyses - macro-economic factors analysis, Porter’s Five Forces Analysis, technology roadmap, value chain analysis, market attractiveness analysis, application mapping, and competition matrix providing matrix of competitive positioning of key players as per select parameters.
Global Process Simulation Software in Oil and Gas Market: Research Methodology
The market sizing methodology adopted involved a multi-pronged approach, ultimately resulting in data being triangulated from all models/approaches. Primary focus has been on analyzing information as retrieved through the primary approach which required interaction with industry experts. These included professionals across companies involved at various stages of the ecosystem/supply chain. Data heads such as technology adoption and penetration trends, total number of oil and gas companies globally, adoption rate of process simulation software in oil and gas industry, pricing analysis, capital expenditure trends, technology hurdles, and outlookwere some of the key parameters modelled based on inputs received. These were simultaneously also verified against information collected through different secondary sources. Major sources include company annual reports, analyst briefings, technology white papers, industry magazines/publications, expert blogs, and paid secondary databases. Apart from data aggregated from these models, the data is also verified from the data available in- house repository and expert panel opinion.
Global Process Simulation Software in Oil & Gas Market: Competitive Dynamics
The analysis included in the report has been developed based on a study of key performance parameters of companies active across the ecosystem, with process simulation software providers making up the majority of the list. Some of the players/companies which were subsequently profiled and included in the final report draft include Aspen Technology, Inc., Honeywell Process Solutions, KBC (Yokogawa), AVEVA Group Plc, Process System Enterprise, Ltd., Chemstations, Inc., Kongsberg Gruppen, GSE Systems, Inc., Virtual Material Group Inc. (Schlumberger), ProSim, EQ-Comp, Schneider Electric SE, and Bryan Research & Engineering, LLC.
The process simulation software in oil & gas market has been segmented as below:
Market Segmentation: Global Process Simulation Software in Oil & Gas Market
By Operation Type
In addition, the report provides analysis of the process simulation software in oil & gas market with respect to the following geographic segments:
MRRSE offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.Get A Free Custom Research Quote