Forecasts and fantasies

Oil and gas data management. Next-generation oilfield technology. IT services. Carbon capture.

A new Markets & Markets report puts the value of the oil and gas data management market at ‘$21.22 billion’ by 2020, up from a $6.08 billion base in 2015, at a remarkable 28.4% annual growth rate. The report sees a shift from traditional processes to smarter operations and a shrinking workforce at remote and offshore exploration sites. Key players in the global ‘software defined’ data center market include SAP, IBM, Wipro, NetApp and Oracle and VMware.

Technavio/Infiniti research has added three new reports on next-gen oilfield technology to its library. The ‘global’ market is to grow at 5% out to 2019 driven by growing demand for oil and gas. But ‘getting employees to embrace the new method of operation is a hurdle in the implementation of this technology.’ The automation/DCS/Scada side is set to grow at 7-9% through to 2019. The smart oilfield IT Services Market will only grow 5.93% to 2019. Corporate data security is ‘one of the strongest barriers to the adoption of IT services in the oil and gas sector.’

Technavio also released a report on the state of play of carbon capture and storage.

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