Exploration and Production (E&P) Software & Services Market Grows With Increasing Digitalization in the Oil and Gas Industry
There are three segments in oil and gas industry such as downstream, midstream, and upstream. Upstream involves exploration and production (E&P) of the oil and gas industry. E&P software and services help companies to plan their operations, with the help of required tools. Moreover, E&P software and services help companies to analyze data from drilling, as well as to analyze data integrated with geology and seismic software solutions. Leading companies around the world use E&P software and services to gather and analyze the data related to the services and products. Thus, there is an increasing demand for E&P software and services worldwide. Growth of the exploration and production (E&P) software & services market can be attributed to the increasing digitalization in the oil and gas industry. According to the World Economic Forum, in 2018, major players or leading companies invested around US$ 1.6 to 2.5 trillion for digitalization in the oil and gas...