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Global Exploration and Production Software Market: By Offering: Service, Software; By Software Type: Portfolio Aggregation, Risk Management Mapping, Others; By Deployment Type; By Operation Type; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Exploration and Production Software Market Outlook

The global exploration and production software market is expected to grow at a CAGR of 14.7% during the period 2022-2027. Solutions enhancing workflow efficiency and improving the precision of exploration operations for firms, especially oil and gas companies, are expected to afford organizations the desired competitive edge and drive market growth. Solutions with novel features and accelerated automation are expected to enhance user productivity and lead to better results in a more optimal time duration. North America, Europe and Asia Pacific are likely to be key markets.

 

Global Market Likely to be Driven by Companies’ Need for Improved Data Analytics and Better Decision Making

Modern solutions offer new workflows for interpreters, providing a broad range of technologies in the same integrated platform where day-to-day interpretation is carried out. This removes the challenges related with shuffling information between platforms and reduces the necessity to learn new applications, resulting in enhanced productivity and quicker product adoption. Such solutions incorporate additional automation to help customers enhance performance through the E&P course, including usage of machine learning for quicker interpretation and reservoir characterization. Novel capabilities may enable up to twenty percent higher user productivity for multi-survey and large-scale interpretation and imaging projects, added automation of the tomographic velocity model update process and a fully automatic reservoir modelling uncertainty workflow. Solutions with new features incorporating surface outcrop data in multi-survey interpretation systems are particularly valuable to users working with poor-quality seismic data, especially in mountainous regions. Such solutions are expected to drive the global exploration and production software market. Powerful new tools in the formation evaluation system make it easier to work with large, multi-well databases and carry out safer drilling.

 

Exploration Software for Oil and Gas Companies Likely to Contribute to Market Growth

Oil and gas companies employ exploration software to determine and evaluate deposits to decide whether to start extraction. Exploration software enable oil and gas companies to determine the size, accessibility, and overall feasibility of deposits. With the help of exploration software, oil and gas companies can begin planning extraction operations and create an infrastructure to ensure the safety of personnel. Exploration software thus are an important tool for hazard identification and risk assessment.

 

Modern Solutions Expected to Drive Market Growth

To generate precise exploration data, exploration software integrates with geology and seismic software solutions. Integration with oil and gas simulation and modelling could also assist companies in creating and comparing scenarios for optimal extraction and production strategies. To qualify for inclusion in the Exploration category, a solution must offer data on oil and gas deposits across several locations, visualize and analyse drillhole and borehole information, automate data capture and processing tasks for exploration, convert and share surface and subsurface geoscience information, determine unexplored deposit potential, and evaluate feasibility and costs of extraction and production projects. Solutions that help safeguard investments of companies by reducing uncertainty in exploration projects and development fields are likely to drive the global exploration and production software market. Popular software include:

WellView – A complete well information management system for well planning, drilling, completion, testing and workovers. The solution is a single comprehensive drilling and well information database which decreases duplicate data entry, enhances data quality, and fosters a collaborative information environment.

Petrel E&P Software Platform – The solution brings disciplines together with best-in-class applied science in an excellent productivity environment. The shared earth approach allows companies to standardize workflows from exploration to production, and make informed decisions with a clearer and better understanding of opportunities and risks.

geoSCOUT – A decision-support tool; it offers data for all disciplines by integrating public and proprietary data in wells, well logs, land, pipelines and facilities, fields and pools and seismic studies, providing access to required information.

IHS Kingdom – Provides the desired functionality for portfolio management from prospect to production, with interpretation to microseismic analysis and geosteering, enabling better interpretation and modelling sharing of information, and improved decision making.

CorePlan – A digital operations platform for Mining Exploration & Drilling. The solution enables drilling companies to manage their operations from capturing drilling data (called Plods or DDRs), inspections, incidents to generating cost to clients and then invoicing them after approval. These features come without the need for error prone spreadsheets or continual email and paperwork.

 

Market Segmentation

By offering, the market is segmented into:

  • Service
  • Software

By software type, the market is divided into:

  • Portfolio Aggregation
  • Risk Management Mapping
  • Navigation System
  • Seismic Amplitude Analysis
  • Navigation Systems
  • Reservoir Simulation
  • Others

By deployment type, the market is classified into:

  • Cloud-based Software
  • On-premise Software

By operation type, the market is segmented into:

  • On-shore
  • Off-shore

By region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the global exploration and production software market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Emerson Electric Co.
  • ION Geophysical Corporation
  • Baker Hughes Company
  • Ikon Science Ltd
  • KAPPA Engineering
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Software Type
  • Deployment Type
  • Operation Type
  • Region
Breakup by Offering
  • Service
  • Software
Breakup by Software Type
  • Portfolio Aggregation
  • Risk Management Mapping
  • Navigation System
  • Seismic Amplitude Analysis
  • Navigation Systems
  • Reservoir Simulation
  • Others
Breakup by Deployment Type
  • Cloud-based Software
  • On-premise Software
Breakup by Operation Type
  • On-shore
  • Off-shore
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Emerson Electric Co.
  • ION Geophysical Corporation
  • Baker Hughes Company
  • Ikon Science Ltd
  • KAPPA Engineering
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Exploration and Production Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Exploration and Production Software Historical Market (2017-2021) 
    8.3    Global Exploration and Production Software Market Forecast (2022-2027)
    8.4    Global Exploration and Production Software Market by Offering
        8.4.1    Service
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Exploration and Production Software Market by Software Type
        8.5.1    Portfolio Aggregation
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Risk Management Mapping
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Navigation System
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Seismic Amplitude Analysis
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Navigation Systems
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2017-2021)
            8.5.5.3    Forecast Trend (2022-2027)
        8.5.6    Reservoir Simulation
            8.5.6.1    Market Share
            8.5.6.2    Historical Trend (2017-2021)
            8.5.6.3    Forecast Trend (2022-2027)
        8.5.7    Others
    8.6    Global Exploration and Production Software Market by Deployment Type
        8.6.1    Cloud-based Software
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    On-premise Software
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Exploration and Production Software Market by Operation Type
        8.7.1    On-shore
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Off-shore
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
    8.8    Global Exploration and Production Software Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Emerson Electric Co.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    ION Geophysical Corporation
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Baker Hughes Company
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Ikon Science Ltd
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    KAPPA Engineering
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Exploration and Production Software Market: Key Industry Highlights, 2017 and 2021
2.    Global Exploration and Production Software Historical Market: Breakup by Offering (USD Million), 2017-2021
3.    Global Exploration and Production Software Market Forecast: Breakup by Offering (USD Million), 2022-2027
4.    Global Exploration and Production Software Historical Market: Breakup by Software Type (USD Million), 2017-2021
5.    Global Exploration and Production Software Market Forecast: Breakup by Software Type (USD Million), 2022-2027
6.    Global Exploration and Production Software Historical Market: Breakup by Deployment Type (USD Million), 2017-2021
7.    Global Exploration and Production Software Market Forecast: Breakup by Deployment Type (USD Million), 2022-2027
8.    Global Exploration and Production Software Historical Market: Breakup by Operation Type (USD Million), 2017-2021
9.    Global Exploration and Production Software Market Forecast: Breakup by Operation Type (USD Million), 2022-2027
10.    Global Exploration and Production Software Historical Market: Breakup by Region (USD Million), 2017-2021
11.    Global Exploration and Production Software Market Forecast: Breakup by Region (USD Million), 2022-2027
12.    North America Exploration and Production Software Historical Market: Breakup by Country (USD Million), 2017-2021
13.    North America Exploration and Production Software Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Europe Exploration and Production Software Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Europe Exploration and Production Software Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Asia Pacific Exploration and Production Software Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Asia Pacific Exploration and Production Software Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Latin America Exploration and Production Software Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Latin America Exploration and Production Software Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Middle East and Africa Exploration and Production Software Historical Market: Breakup by Country (USD Million), 2017-2021
21.    Middle East and Africa Exploration and Production Software Market Forecast: Breakup by Country (USD Million), 2022-2027
22.    Global Exploration and Production Software Market Structure

Key Questions Answered in the Report

The global exploration and production software market is projected to grow at a CAGR of 14.7% between 2022 and 2027.

The major drivers of the market include the digitalisation, rising technological advancements in E&P, growing investment in the oil and gas sector, increasing exploration of unconventional gas resources, growing demand for liquid hydrocarbons, and rising research and development activities.

Growing digitalisation in the oil and gas and energy sectors and need for improved data analytics and better decision making by companies are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Based on offering, the market is segmented into service and software.

The different types of software in the market are portfolio aggregation, risk management mapping, navigation system, seismic amplitude analysis, navigation systems, and reservoir simulation, among others.

Based on deployment type, the market is classified into cloud-based software and on-premise software.

The different types of operations in the market on-shore and off-shore.

The major players in the industry are Emerson Electric Co., ION Geophysical Corporation, Baker Hughes Company, Ikon Science Ltd, and KAPPA Engineering, among others.

Analyst Review

The global exploration and production software market was driven by the growing digitalisation in the oil and gas and energy sectors in the historical period. Aided by the increasing exploration of unconventional gas resources and growing demand for liquid hydrocarbons, the market is expected to grow at a CAGR of 14.7% in the forecast period of 2022-2027.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on offering, the market is segmented into service and software. The different types of software in the market are portfolio aggregation, risk management mapping, navigation system, seismic amplitude analysis, navigation systems, and reservoir simulation, among others. Based on deployment type, the market is classified into cloud-based software and on-premise software. The different types of operations in the market on-shore and off-shore. The major regional markets for exploration and production software are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the market are Emerson Electric Co., ION Geophysical Corporation, Baker Hughes Company, Ikon Science Ltd, and KAPPA Engineering, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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