Aug 21, 2020 1:24 AM ET

iCrowd Newswire – Aug 21, 2020

Global Oil and Gas Accounting Software Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, players market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Oil and gas companies need back-office software that is specifically designed for their industry to meet requirements such as oil and gas accounting and land registry management. The back-office software for oil and gas also provides oil and gas reports for regulatory purposes. This type of software enables oil and gas companies to monitor the depreciation of financial assets. Manage costs of complex operations such as exploration, extraction, and production; and track revenue from multiple locations and mineral deposits. Customer management functions are not always included, which is why integration into CRM software is important. In order to accurately calculate costs and revenues, the back office software for oil and gas has to consolidate information from several systems such as oil and gas asset management and oil production as well as payroll and personnel for labor costs. To qualify for inclusion in the oil and gas back-office category, a product must provide templates for leasing and land management documents, track operating costs and capital investment projects, include multiple asset depreciation methods (straightforward, annuity, etc.), and calculate sales volumes and automate sales valuation and distribution, provide regulatory license, tax, and volume reports, prepare oil field invoices and process payments, manage contracts with customers, suppliers or contractors and report and analyze sales, fixed or variable cost profitability.

Major Players in This Report Include,

P2 Energy Solutions (United States), ETAP – Operation Technology, Inc. (United States), FieldCap, Inc. (United States), Inspectivity (Australia), Quorum Business Solutions, Inc. (United States), ToolWatch (United States), WolfePak Software (United States), Aptean (United States), Schlumberger (United States), TRC Consultants, LC (PHDWin) (United States), Aspen Technology (United States), Husky Intelligence (United States), Integra Software Services Pvt. Ltd., PetroBase LLC (United States) and Snappii (United States).

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Market Drivers

  • Increasing Integrating of Artificial Intelligence and Machine Learning by Oil & Gas Industry
  • The Requirement to Simplify the Complexity of Operations in the Oil & Gas Industry
  • Increasing Exploration and Production Activity

Market Trend

  • Improve Big Data Security
  • Growing Use of Artificial Intelligence

Restraints

  • Technological Complexity In the Software

Opportunities

  • Growth in the Oil and Gas Industry in Developing Countries
  • Growing Need for Operational Efficiency and Decreasing Management System Components

Challenges

  • Lack of Awareness and Support
  • Lack of Skilled Personnel

Global Oil and Gas Accounting Software Market Report offers a detailed overview of this market and discusses the dominant factors affecting the growth of the market. The impact of Porter’s five armies on the market over the next few years has been discussed for a long time in this study. We will also forecast global market size and market outlook over the next few years.

Types of Products, Applications and Global Oil and Gas Accounting Software Market Report Geographical Scope taken as the Main Parameter for Market Analysis. This Research Report Conducts an assessment of the industry chain supporting this market. It also provides accurate information on various aspects of this market, such as production capacity, available production capacity utilization, industrial policies affecting the manufacturing chain and market growth.

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In this research study, the prime factors that are impelling the growth of the Global Oil and Gas Accounting Software market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

The Global Oil and Gas Accounting Software market study is being classified by Type, Applications and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).

The Global Oil and Gas Accounting Software is segmented by following Product Types:

Type (Cloud-Based, On-Premise), Application (Oil Industry, Natural Gas Industry), Organization Size (Small and Medium Enterprise, Large Enterprise), Platform (Mac, Windows, Android), Subscription Type (One-Time License, Monthly Subscription, Annual Subscription), Features (Compliance Management, Logistics Management, Material Management, Scheduling, Work Order Management, Others), Number of Users (2-9, 10-49, 50-99, 100-499, Others)

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Oil and Gas Accounting Software market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Current Scenario Analysis for Decision Framework

Key Strategic Developments in Global Oil and Gas Accounting Software Market:

The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale to overcome current slowdown due to COVID-19.

Key Market Features in Global Oil and Gas Accounting Software Market

The report highlights Global Oil and Gas Accounting Software market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Global Oil and Gas Accounting Software, market share and annualized growth rate (Y-o-Y) and Periodic CAGR.

Extracts from Table of Contents

Global Oil and Gas Accounting Software Market Research Report

Chapter 1 Global Oil and Gas Accounting Software Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Revenue (Value, Volume*) by Region

Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions

Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type

Chapter 7 Global Market Analysis by Application

………………….continued

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This report also analyzes the regulatory framework of the Global Markets Global Oil and Gas Accounting SoftwareMarket Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

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Keywords:    Cloud-Based, On-Premise