Oil and Gas Cloud Applications Market Expected to Reach 5.68 Billion USD by 2022

Seatlle, United States -- (SBWIRE) -- 12/13/2017 -- According to a new market research report "Oil and Gas Cloud Applications Market by Type of Application (CRM, ECM and Collaboration, ERP, GRC, Data Analytics, HCM, PPM, SCM), Major Sector (Upstream, Midstream, Downstream), Deployment Model, Business Function - Global Forecast to 2022", Published by MarketsandMarkets™, the oil and gas cloud applications market is expected to grow from USD 3.33 Billion in 2017 to USD 5.68 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.3%. Major drivers of this market are major slump in oil prices and the emergence of big data and advanced analytics for fostering and enhancing operational efficiencies.Growing trends of mobile computing and rapidly increasing adoption of hybrid cloud are the key opportunities that would fuel the market growth.