Albany, NY, May 19, 2016 (GLOBE NEWSWIRE) -- About Global IT Spending in the Oil and Gas Industry
The oil and gas industry includes processes of hydrocarbon exploration, extraction, refining, and transportation. The finished product is transported by tankers and pipelines and is subsequently marketed. The industry's largest volume products are fuel oil and gasoline. Products such as petroleum are often used as the raw material to manufacture fertilizers, solvents, pharmaceuticals, plastics, and pesticides. The overall industry is divided into three major components, upstream, midstream, and downstream operations.
The Global IT Spending in Oil and Gas Industry to generate revenues of USD 48.54 billion during the period 2016-2020.The oil and gas industry has exerted significant efforts to boost operational efficiency and reduce costs. To that end, information technologies have emerged as a core component of almost all industry operations, from extraction to logistics and sales.
Covered in this report
The report covers the present scenario and the growth prospects of the Global IT Spending in Oil and Gas Industry for 2016-2020.
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The market is divided into the following segments based on geography:
Technavio's report, Global IT Spending in Oil and Gas Industry 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Other prominent vendors
- CGI Group
- Cisco Systems
- GE Oil and Gas
- Huawei Technologies
- Indra Sistemas
- HCL Technologies
- Tech Mahindra
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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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