Global Hydrocarbons Accounting Solution market is expected to reach 519 million USD by the end of 2022
Published Date: 2018/11/13
Hydrocarbons Accounting Solution includes two essential elements. Firstly, gathering and validating flow measurement data in order to establish the definitive record of production from a facility. Secondly, it involves carrying out allocation calculations on the flow measurements to derive quantities that are not measured directly. And the Hydrocarbons Accounting Software can be classified to cloud-based and on-promise type, and the cloud-based type is leading the growing market at present.
Hydrocarbons Accounting Solution is mainly used for three applications: Oil, Natural Gas and Water. And Oil & Gas was the most widely used area which took up about 98% of the global total in 2016.
The global Hydrocarbons Accounting Solution average pricing is influenced by the global trend because of the downside of oil & gas industry. The average price will be in decline trend if more vendors go into operation in the future. The Hydrocarbons Accounting Solution sales will reach about 395 Million USD in 2017 from 422 Million USD in 2012 all around the world.
North America is the largest consumption countries of Hydrocarbons Accounting Solution in the world in the past few years and it will keep increasing in the next few years. USA market took up about 30% the global market in 2016, while Europe was about 23%.
USA, UK, Finland, Germany, Canada, China and India are now the key developers of Hydrocarbons Accounting Solution. There are some vendors with poor quality products, but the Chinese market is still much smaller than the USA.
SAP, Adept Solutions, P2 Energy Solutions, Tieto, Quorum, EnergySys, JPL, Pansoft, Schlumberger and CGI are the key suppliers in the global Hydrocarbons Accounting Solution market. Top 5 took up about 80% of the global market in 2016. Tieto, P2 Energy Solutions, SAP, CGI Group and Schlumberger, which have leading technology and market position, are well-known suppliers around the world. Wipro and Infosys from India is said the key OEM for the Hydrocarbons Accounting Software though they provide some of the service in India.
The global Hydrocarbons Accounting Solution market is valued at 394 million USD in 2016 and is expected to reach 519 million USD by the end of 2022, growing at a CAGR of 4.69% between 2016 and 2022.
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