Oil and Gas Project Management Software Market Size, Trends 2031

Get free sample report Request for Customiztion Buy Now

Home
ICT, Semiconductor & Electronics
Software & Services
Oil and Gas Project Management Software Market Size, Trends 2031

Oil and Gas Project Management Software Market Size, Trends 2031

Segments - Oil and Gas Project Management Software Market by Application (Upstream, Down & Midstream, On-shore, and Off-shore), Component (Solutions, Services, Data Management, Consulting & Planning, Operation & Maintenance, Integration & Implementation, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

Oil and Gas Project Management Software Market Outlook 2031

The global oil and gas project management software market size was USD 70 billion in 2022 and is likely to reach USD 266 billion by 2031, expanding at a CAGR of 16% during 2023–2031. The market growth is attributed to the rising need to simplify project operations for on-time delivery.

The growing need for cost-effective software tools to plan, implement, monitor, evaluate, and report ongoing projects is anticipated to contribute to the growth of the market. Project management software allows oil and gas industries to maintain project standards for the production of high-quality oil & gas. Furthermore, the rising collaborations between project management software providers and oilfield service companies to develop innovative solutions are expected to boost the market during the projection period. For instance,

On June 29, 2021, SLB and IBM partnered to introduce the first commercial cloud enterprise data management solution for the OSDU Data Platform. The partnership aims to provide cloud services to customers across different countries.

Oil and Gas Project Management Software Market Outlook

The market report found that the COVID-19 pandemic boosted the global oil and gas project management software market. Government regulations on logistic operations and social distancing during the pandemic increased the inclination toward digitization. This led to the rising adoption of software in the oil and gas management businesses. This further helped in market growth recovery during the pandemic.

Impact of Artificial Intelligence on Oil and Gas Project Management Software Market

The adoption of artificial intelligence (AI) in project management software allows companies to be updated with the latest technology and have an edge over the competitors. AI helps companies with easy verification processes, ensuring service security and effective delivery procedures. In addition, other advanced technologies, such as machine learning and predictive decision tools, facilitate the discovery of errors and further help in effective market expansion.

Oil and Gas Project Management Software Market Dynamics

Major Drivers

Surging need to simplify complex operations among oil and gas industries is expected to boost the market during the forecast period. Project management software helps in easy planning, allotment, monitoring, and evaluation of the projects, to prevent any form of financial and equipment loss. This software further helps in decision-making. Moreover, the growing digitization in corporate gas & oil industries is anticipated to propel the market.

Existing Restraints

Rising incidence of data breaches is expected to hamper the market. Unauthorized access to the cloud service refrains oil and gas companies from adopting project management software. Moreover, the lack of awareness regarding project management software restrains the market during the forecast period.

Emerging Opportunities

Increasing risk of cyber-attacks encouraged the companies to adopt technically advanced tools, such as machine learning and artificial intelligence, which in turn is expected to create novel growth opportunities in the market. In addition, advancements in the existing technologies are anticipated to generate lucrative opportunities for the market players, which propels the market.

Scope of The Oil and Gas Project Management Software Market Report

The report includes an assessment of trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Oil and Gas Project Management Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Application (Upstream, Down & Midstream, On-shore, and Off-shore) and Component (Solutions, Services, Data Management, Consulting & Planning, Operation & Maintenance, Integration & Implementation, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report	Deltek, Inc.; Hexagon AB; InEight, Inc.; Oracle; Penta Technologies, Inc.; Prism Energy; SAP SE; and Siemens

Oil and Gas Project Management Software Market Segment Insights

Application Segment Analysis

Based on application, the oil and gas project management software market is divided into upstream, down & midstream, on-shore, and off-shore. The upstream segment is expected to expand at a considerable CAGR during the projection period, due to the rising investment activities for upstream applications.

Many countries including India, China, and South Korea registered a high demand for energy resources, which is anticipated to increase government investments in the upstream applications, thereby boosting the segment.

Oil and Gas Project Management Software Market Application

Component Segment Analysis

On the basis of component, the global market is segregated into solutions, services, data management, consulting & planning, operation & maintenance, integration & implementation, and others. The solutions segment is projected to grow at a significant pace during the forecast period, as solutions offer more flexibility in managing data. Thus, governments of different nations are adopting solutions to offer a more secure way of managing data, which further fuels the segment.

Regional Outlook

In terms of region, the global oil and gas project management software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, due to the rising digitization in the countries of the region. In addition, the region has registered a high number of cyber-attack cases in oil and gas data management, which increases the demand for project management software to enhanced safety and data security.

These factors are expected to increase the demand for high-quality monitoring and management software. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the rising number of oil and gas industries in the region. Moreover, growing urbanization and high oil and gas consumption are boosting the demand for project management tools, thus driving the market in the region.

Oil and Gas Project Management Software Market Region

Segments

The oil and gas project management software market has been segmented on the basis of

Application

Upstream
Down & Midstream
On-shore
Off-shore

Component

Solutions
Services
Data Management
Consulting & Planning
Operation & Maintenance
Integration & Implementation
Others

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Deltek, Inc.
Hexagon AB
InEight, Inc.
Oracle
Penta Technologies, Inc.
Prism Energy
SAP SE
Siemens

Competitive Landscape

Key players operating in the global oil and gas project management software market include Deltek, Inc.; Hexagon AB; InEight, Inc.; Oracle; Penta Technologies, Inc.; Prism Energy; SAP SE; and Siemens Several companies are implementing market expansion & growth strategies, such as divestitures, partnerships, acquisitions, R&D investments, mergers, collaboration, and product launches, to boost their market share. For instance,

On July 5, 2023, Prism Energy announced the acquisition of Mandos Software. The software by Mandos is used for processing and managing business practices securely.

Oil and Gas Project Management Software Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil and Gas Project Management Software Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Oil and Gas Project Management Software Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Oil and Gas Project Management Software Market - Supply Chain
  4.5. Global Oil and Gas Project Management Software Market Forecast
     4.5.1. Oil and Gas Project Management Software Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Oil and Gas Project Management Software Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Oil and Gas Project Management Software Market Absolute $ Opportunity
5. Global Oil and Gas Project Management Software Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Oil and Gas Project Management Software Market Size and Volume Forecast by Applications
     5.3.1. Upstream
     5.3.2. Down & Midstream
     5.3.3. On-shore
     5.3.4. Off-shore
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Oil and Gas Project Management Software Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Oil and Gas Project Management Software Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Oil and Gas Project Management Software Demand Share Forecast, 2019-2026
7. North America Oil and Gas Project Management Software Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Oil and Gas Project Management Software Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Oil and Gas Project Management Software Market Size and Volume Forecast by Applications
     7.4.1. Upstream
     7.4.2. Down & Midstream
     7.4.3. On-shore
     7.4.4. Off-shore
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Oil and Gas Project Management Software Demand Share Forecast, 2019-2026
8. Latin America Oil and Gas Project Management Software Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Oil and Gas Project Management Software Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Oil and Gas Project Management Software Market Size and Volume Forecast by Applications
     8.4.1. Upstream
     8.4.2. Down & Midstream
     8.4.3. On-shore
     8.4.4. Off-shore
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Oil and Gas Project Management Software Demand Share Forecast, 2019-2026
9. Europe Oil and Gas Project Management Software Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Oil and Gas Project Management Software Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Oil and Gas Project Management Software Market Size and Volume Forecast by Applications
     9.4.1. Upstream
     9.4.2. Down & Midstream
     9.4.3. On-shore
     9.4.4. Off-shore
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Oil and Gas Project Management Software Demand Share Forecast, 2019-2026
10. Asia Pacific Oil and Gas Project Management Software Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Oil and Gas Project Management Software Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Oil and Gas Project Management Software Market Size and Volume Forecast by Applications
     10.4.1. Upstream
     10.4.2. Down & Midstream
     10.4.3. On-shore
     10.4.4. Off-shore
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Oil and Gas Project Management Software Demand Share Forecast, 2019-2026
11. Middle East & Africa Oil and Gas Project Management Software Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Oil and Gas Project Management Software Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Oil and Gas Project Management Software Market Size and Volume Forecast by Applications
     11.4.1. Upstream
     11.4.2. Down & Midstream
     11.4.3. On-shore
     11.4.4. Off-shore
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Oil and Gas Project Management Software Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Oil and Gas Project Management Software Market: Market Share Analysis
  12.2. Oil and Gas Project Management Software Distributors and Customers
  12.3. Oil and Gas Project Management Software Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Deltek, Inc.
     12.4.2. Hexagon AB
     12.4.3. InEight, Inc.
     12.4.4. Oracle
     12.4.5. Penta Technologies, Inc.
     12.4.6. Prism Energy
     12.4.7. SAP SE
     12.4.8. Siemens