The global oil & gas industry experienced a 51% rise in company filings mentions of cloud in Q1 2023 compared with the previous quarter, with the highest share accounted for by Reliance Industries with 17% year-on-year increase, according to GlobalData’s analysis of over 99 oil & gas company filings. The growing application of Cloud will prove to have a transformative impact on the oil & gas sector. GlobalData’s Cloud Market Size, Share and Trends, Analysis and Forecast report helps keep abreast of the latest trends in Cloud, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, cloud was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of cybersecurity and governance, according to GlobalData.
Of the top leading companies in the oil & gas industry, Reliance Industries had the greatest increase in references for cloud in Q1 2023, compared with the previous quarter. GlobalData identified 6 cloud-related sentences in the company's filings - 7% of all sentences - and an increase of 100% in Q1 2023 compared with Q1 2022. Schlumberger’s mentions of cloud rose by 300% to 4 and Saudi Arabian Oil’s by 200% to 3 and Halliburton’s by 100% to 2.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cloud in Q1 2023 was 106.
To further understand GlobalData's analysis on Cloud Computing Market Size, Share, Trends, Analysis and Forecast by IT Infrastructure, Products and Services (Cloud Management Platforms, IaaS, SaaS, PaaS, Hybrid, Managed and Private Cloud Services), Region and Vertical, 2022-2026, buy the report here.