Research Blogs

  According to a new market report published by Transparency Market Research the  global process simulation software in oil & gas market  was valued at US$ 927.7 Mn in 2018 and is expected to expand at a CAGR 4.3% from 2019 to 2027, reaching US$ 1,349.3 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the process simulation software in oil & gas market in 2018. This growth is mainly attributed to the growing need for process simulation software among oil and gas companies to efficiently design and analyze each process during exploration and production of oil and gas in the region. Increase in global drilling activity and rise in overall expenditure by oil and gas companies Drilling activity has significantly increased from the past year, thus increasing the demand/ requirement for designing, modeling, visualization, and data capturing tools. E&P companies are in greater ...