Europe Exploration and Production Accounting System Software Market is expected to reach US$ XX Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Europe Exploration and Production Accounting System Software Market
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The Europe Exploration and Production Accounting System Software Market is classified into deployment type, operation type, software type, industry vertical and geography. Based on deployment type market is divided into Cloud-based Software, On-premise Software. on the basis of operation type market is classified into On-shore, Off-shore. According to software type market is segmented into Performance Tracking, Risk Management Mapping, Navigation System, Portfolio Aggregation, Process Safety Control System, Resource Valuation, Reservoir Simulation Characterization, Drilling, Production, others. Based on industry vertical market is divided into Oil and Gas, Refining, mining, Petrochemicals, chemicals, others. Geographically market is divided into UK, Germany, Russia, France, Italy, Spain, Belgium, and Rest of Europe.
As competition grows, the upstream companies in oil gas are discovering that poor legacy systems, over the years, have resulted in poor decision making. This can be as a result of inaccurate information, and processes that eventually drags down productivity, in place of driving it. The embed quality, consumable, and real-time data put into the decision-making procedure using tools such as exploration and production accounting software enable the right decision for the company. Production accountants are unrestrained from time-consuming data entry with conversions allowing to concentrate on intricate allocations and tactical initiatives delivering the highest value to the business.
The cloud segment monitored the fastest growth whereas the on-premises segment held the largest market share. Based on the operations segment, the Europe Exploration and Production Accounting System Software Market comprises of on-shore and off-shore operations. The on-shore operations held the largest market share owing to the presence of higher opportunities in this segment and longer operational time that necessitates the importance of software systems. The Europe Exploration and Production Accounting System Software Market based on software type is classified into performance tracking, risk management mapping, navigation system, portfolio aggregation, process safety control system, resource valuation, reservoir simulation characterization, drilling, production others.
The Europe Exploration and Production Accounting System Software Market is further differentiated on the basis of verticals that comprises oil and gas, refining, mining, petrochemicals, chemicals others. The oil gas segment held the largest market share owing to the high demand for gasoline and fuel gas products. These products have a huge demand across developed and developing countries where the fuel oil and gasoline products are used across different industry verticals.
Geographically, different countries in Europe have invested heavily in software systems for updating information regarding the oil rigs and newer excavations. UK, Russia, France, and Germany are some of the major countries that have contributed to the growth of Exploration and Production Accounting System Software market in Europe.
Key players operated in the market includes Honeywell, Paradigm Geophysical BV, Petroleum Experts Ltd., ETL Solutions Ltd., GEPlan Consulting S.r.l., GE Oil Gas, eDrilling AS, Total Stream Systems, P2 Energy Solutions, TouchStone Energy, Deltek.
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Europe Exploration and Production Accounting System Software Market by Deployment type:
• Cloud-based Software
• On-premise Software
Europe Exploration and Production Accounting System Software Market by Operation Type:
Europe Exploration and Production Accounting System Software Market by Software Type:
• Performance Tracking
• Risk Management Mapping
• Navigation System
• Portfolio Aggregation
• Process Safety Control System
• Resource Valuation
• Reservoir Simulation Characterization
Europe Exploration and Production Accounting System Software Market by Industry Vertical:
• Oil and Gas
Europe Exploration and Production Accounting System Software Market by Geography:
• Rest of Europe
Key players operated in Europe Exploration and Production Accounting System Software Market:
• Paradigm Geophysical BV
• Petroleum Experts Ltd.
• ETL Solutions Ltd.
• GEPlan Consulting S.r.l.
• GE Oil Gas
• eDrilling AS
• Total Stream Systems
• P2 Energy Solutions
• TouchStone Energy
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