Oil Fuel Mobility Market to Expand with Significant CAGR | 2024

With spiking demand for oil and gas worldwide, savvy companies are increasingly figuring ways to make optimal use of available resources and slash operational costs. One way of achieving it is by sagaciously leveraging mobility, which includes mobile computing through the use of smart devices such as tablets and smartphones, to deliver on-demand intelligence, better information flow, and higher field force productivity. To elaborate a bit further, mobility helps provide automation to asset management, materials management, mobile analytics, risk and regulatory compliance, and workforce automation.

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Besides, oil fuel mobility also helps to analyze the massive volumes of quantified data generated in upstream, midstream, and downstream process. This in turn facilitates a functional digital link among diverse locations and enables entities to chart organizational strategies for effecting better decisions. Mobility can be deployed both via on-premise or cloud solution in an organization.

A report by Transparency Market Research conveys essential information on the global oil fuel mobility market. After a granular analysis of the factors driving and hindering the growth in the market, the report finds that it will likely expand at a cracking pace in the upcoming years. The report also leverages market-leading analytical tools to gauge the current competitive dynamics and profiles leading players operating in the market.

Global Oil Fuel Mobility Market: Drivers and Trends

With oil prices at record lows in comparison to the peak price of US$100 a barrel, companies are increasingly feeling the pressure to bring down operational costs. Mobility accords them the opportunity to achieve it through a range of benefits it provides. This has been the single-most important growth driver in the global market for oil fuel mobility. Enterprise resource planning (ERP) and business intelligence software in mobile computing, for example, helps to seamlessly unite various organizational functions and leverage data for day to day crucial decisions on production, vendor management, maintenance, delivery, and asset management. It spans the gamut of operations starting from drilling to shipping crude oil to refineries and finally to the market.

Other factors stoking growth in the global oil fuel mobility market are the rapid technological progress and the ever-increasing demand for oil necessitating upping exploration and production. In the years ahead, mobility in oil and gas sector is predicted to see a surge on account of real-time operability with smart devices in streamlining data and higher economic benefits. Need to bring about more meaningful interactions between vendors and customers is slated to further propel the market.

Additionally, complementing technologies such as machine-to-machine (M2M) communication will further increase take-up of mobility in oil and gas refineries and petrochemical industries. Mobility service providers provide hosted services after gauging a customer’s needs. One cause of concern for vendors in the market is the information security.

Global Oil Fuel Mobility Market: Regional Outlook

Geographically, the key segments of the global oil fuel mobility market are Asia Pacific, North America, Europe, and the Rest of the World. Among them, North America and the Middle East countries are key markets.

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Companies Mentioned in Report

Some of the crucial players in the global oil fuel mobility market are Accenture PLC, Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Oracle Corporation, Wipro Limited, SAP SE, Hewlett-Packard Development Company L.P., and Infosys Limited. Analysts of the report have evaluated the major companies based on their strategies, market shares, services, and growth prospects. The competitive landscaping presented in the report maps the important trends such as the emergence of a host of new players that will drive up competition dramatically going forward.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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