Oil and Gas Project Management Software Designed to Facilitate Optimum Utilization of Resources in Oil and Gas Sector

Oil and gas companies undertake several projects on a daily basis that involves complex operations, capital management, inventory management, and resource management. Against this backdrop and considering recent growth in the oil and gas industry, the demand for project management software in the sector will witness steep growth in the coming years. These software are high sophisticated and leveraged by companies operating in the oil and gas industry to efficiently manage their capital projects.  

Q: What prompts companies in the oil and gas sector to opt for project management software?

A: Oil and gas project management software provides several benefits to the industry. It enable companies to optimally utilize resources and monitor progress made in a given project. It also helps companies identify potential risks and bring about amenability. Besides this, oil and gas project management software supports companies in reporting and analysis. However, on being specific to the oil and gas industry, paradigm shift toward alternate sources of energy witnessed across an increasing number of nations is creating obstacles for the market. Furthermore, the cavernous gap between the demand and supply of oil and gas is acting as a major restraint for the global oil and gas project management market.

Nonetheless, Transparency Market Research forecasts the global oil and gas project management software market to exhibit a CAGR of 3.6% between 2017 and 2025. At this pace, the market will reach a valuation of US$489.5 mn by the end of 2025.

Q: Which regional markets will offer most lucrative growth opportunities to the market?

A: Among the key regional segments, North America currently holds dominance in the global oil and gas project management software market. The US, which grosses the highest revenue in the sector is currently at the regional market’s fore. Several of the leading market players are domiciled in North America. This coupled with the shale gas boon witnessed in the recent past has provided considerable growth opportunities for the oil and gas project management software market in North America.


Europe has emerged as the second-leading market for oil and gas project management software, the demand for which is primarily high in Scandinavian region and the UK. The massive oil and gas reserves in the North Sea are catalyzing growth in Europe and is expected to continue to do so even in the forthcoming years. Besides this, Asia Pacific will remain a key market, with China and Southeast Asian countries at the fore.

Rapid urbanization witnessed across major economies such as India and China and burgeoning population have spurred the demand for energy in Asia Pacific. According to British Petroleum, Asia Pacific’s share in global energy consumption is expected to rise to 47% by the end of 2035. This is indicative of the immense growth potential of the oil and gas industry in the region thus creating lucrative growth opportunities for the oil and gas project management market in response. In addition, the region has exhibited increased spending in improving infrastructure. These factors are likely to support the market’s growth in the coming years.


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