In 2021, the top 10 Oil, Gas and Chemicals software vendors accounted for nearly 49.5% of the global Oil, Gas and Chemicals applications market which grew 6.7% to approach nearly $10.5 billion in license, maintenance and subscription revenues.
Last year Microsoft was the market leader with a 16.8% market share in license, maintenance and subscription revenues, followed by SAP, Salesforce, AVEVA Group, and Aspen Technology.
We ask the simple question: Who’s buying Oil, Gas and Chemicals applications from whom and why? And we provide the answers – supported by decades of research – to our clients around the world. (Sample from our Apps Database)
Through our forecast period, the Oil, Gas and Chemicals applications market size is expected to reach $12.7 billion by 2026, compared with $10.5 billion in 2021 at a compound annual growth rate of 5.3%.
| Exhibit 2: Worldwide Oil, Gas and Chemicals Software Market 2021-2026 Forecast, $M | |||
|---|---|---|---|
| Year | 2021 | 2026 | 2021-2026 CAGR, % |
| Total | 10458 | 12690 | 5.3% |
Source: Apps Run The World, September 2022
Top 10 Oil, Gas and Chemicals Software vendors
Oil and Gas, Chemicals (Fuel extraction, petroleum refining, primary derivatives from oil, chemicals and allied products) – Oil and Gas Operations Management, Reserves Management, Capital Planning, and Budgeting, Well Production Software, FInancials, HR, Procurement
Despite slumping oil prices, long-term outlook is promising as the industry shakeout will increase pressures to contain costs through automation, while advanced project management apps could become more important than ever. Buoyed by low oil prices, chemical makers and downstream distributors will boost IT spend. Cloud migration for some may be slow in areas with bandwidth limitations.
Here are the rankings of the top 10 Oil, Gas and Chemicals software vendors in 2021 and their market shares.
| Rank | Vendor | 2020 Oil and Gas Apps Revenues, $M | 2021 Oil and Gas Apps Revenues, $M | YoY Growth | 2021 Oil and Gas Market Share, % | Recent Developments |
|---|---|---|---|---|---|---|
| 1 | Microsoft | Subscribe | Subscribe | 8.9% | Subscribe | Microsoft Dynamics 365 is an idle solution for the oil and gas industry that covers all of the core utilitarian business requirements and processes to boost operational efficiencies. The solutions and schedule any particular job are designed uniquely for the industry that fetches profitable outcomes. |
| 2 | SAP | Subscribe | Subscribe | 0.5% | Subscribe | In January 2021, SAP and DNV GL made a partnership agreement to deliver an oil and gas industry cloud solution designed to combat corrosion. Corrosion Under Insulation Manager is one of the latest industry cloud solutions built and run on the open SAP Cloud Platform. The solution’s full integration with SAP Asset Strategy and Performance Management enables calculation and visualization of the complete risk picture using the SAP Cloud Platform. SAP has more than 750 Oil & Gas customers, +1,000,000 global Oil & Gas SAP Users, and 100% of the Oil & Gas companies listed in Fortune 500 are running SAP. |
| 3 | Salesforce.com | Subscribe | Subscribe | 9.2% | Subscribe | For the Oil & Gas industry, Salesforce connects stakeholders and assets across the value chain. The Salesforce platform enables engagement with stakeholders, streamlined field operations, the ability to predictably manage assets, workforce empowerment, enhanced customer engagement and data-driven decision making. With Salesforce, Oil & Gas organizations can leverage a single source of truth to connect and engage with stakeholders, employees, customers and assets. |
| 4 | AVEVA Group | Subscribe | Subscribe | 2.3% | Subscribe | With more than 50 years of industrial software innovation and 23 years of experience in Digital Transformation, AVEVA empowers customers to save up to $320M/year. AVEVA software is used by 19 of the top 20 petroleum companies, over 300 refineries, most of the world’s petrochemical crackers, and 900K miles of pipeline with the most comprehensive integrated and unified operations. |
| 5 | Aspen Technology | Subscribe | Subscribe | 18.7% | Subscribe | In November 2021, AspenTech achieved Amazon Web Services, Inc. Energy Competency status. This designation recognizes that AspenTech has demonstrated deep expertise in helping customers leverage AWS cloud technology to transform complex systems and accelerate the transition to a sustainable energy future. With 2,400 customers worldwide and 40 years of experience in supporting the energy industry, AspenTech looks forward to continuing its work as an AWS Partner by helping companies gain a competitive edge from their industrial data in the cloud while accelerating the energy transition for a more sustainable future. |
| 6 | Infor | Subscribe | Subscribe | 6.6% | Subscribe | In October 2021, Hexagon finish the acquisition of the entire Infor EAM business, which is one of the industry’s biggest players. For $2.75 billion, Hexagon will become the owner of Infor EAM, which can be described as one of the industry-leading SaaS-based solutions for managing enterprise assets, such as factory and production facilities and the like. |
| 7 | Oracle | Subscribe | Subscribe | 4.8% | Subscribe | In May 2022, Madison Gas and Electric chose Oracle to digitize its operations. In phase one of its modernization program, MGE went live with Oracle Fusion Cloud Enterprise Resource Planning, Oracle Fusion Cloud Human Capital Management, and an inventory component of Oracle Utilities Work and Asset Management. |
| 8 | Quorum Software | Subscribe | Subscribe | 21.9% | Subscribe | In July 2022, Quorum unveiled Quorum Energy Suite (QES), a portfolio of solutions that will serve as the foundation for innovation and growth. Following last year’s merger between Quorum and Aucerna, and the acquisition of TietoEVRY’s Oil and Gas software business, Quorum has unified its 38 applications into a single portfolio. |
| 9 | P2 Energy Solutions | Subscribe | Subscribe | 2.5% | Subscribe | In February 2022, P2 Energy Solutions launched an extension of its Business Process Outsourcing (BPO) offerings to include production accounting based on the P2 Merrick platform, the industry’s leading production operations solution. As part of the service, customers will be able to deploy P2 Field Operator to their field users and integrate it with their SCADA systems. P2’s BPO – Production service is the only of its kind to offer direct integration with P2 Field Operator, daily allocations, and P2 Carte, the web-based self-serve production portal. |
| 10 | Hexagon | Subscribe | Subscribe | 14.8% | Subscribe | In January 2022, Hexagon acquired Minnovare, a provider of drilling technology that improves the speed, cost, and accuracy of underground drilling. Minnovare specialises in eliminating the manual, labor-intensive, and unproductive processes in underground mining that lead to blast-hole deviation, dilution, and downtime. Minnovare will operate as part of Hexagon’s Mining division. |
| Subtotal | Subscribe | Subscribe | 6.7% | Subscribe | ||
| Other | Subscribe | Subscribe | 6.8% | Subscribe | ||
| Total | 9797 | 10458 | 6.7% | 100% |
Source: Apps Run The World, September 2022
Other Oil, Gas and Chemicals software providers included in the report are: ABB’s Enterprise Software Group, Aclara Software, Adobe, ADP, Altair Engineering, Ansys Inc., ARCHIBUS, Atlassian, Aurea, Autodesk, Axway, Bentley Systems Inc., BlackLine, Circadian, Cisco Systems, Citrix, Computer Methods International Corp., Computer Modeling Group, Constellation Software Inc., Content Guru, Cadence Design Systems, CoreLogic, DocuSign, Dassault Systemes, Dropbox, E2open, Wolters Kluwer, FieldAware, Fischer Solutions Inc., Fiserv, Fluentgrid, GE Digital, Genesys, GEP Procurement, Global Shop Solutions, GlobePayroll, Google, Honeywell International, IBS Software Services, IDBS, IFS, IBM, Infor, Intuit Inc., Itron Inc., Landmark, LeaseCalcs, Locus Technologies, LogMeIn, Nakisa, Nice Systems, Objective Corporation, OmniSci, Open Text Corporation, Optalert Limited, ORTEC, OSIsoft, OverIT, Pegasystems, ProAlpha Business Solutions, PSI AG, PTC, Qlik, Quantrix, Quorum Business Solutions, River Logic, Rockwell Automation, Schlumberger Software, ServiceNow, Shell Global Solutions International BV, Siemens Digital Industries Software, Sunview Software, Teradata Corporation, Trayport, Trimble, TietoEVRY, UKG, UL EHS Sustainability, Verint Systems Inc., Visma, Vroozi, Workday, Workiva, Zoom Video Communications, and many others.
Custom data cuts related to the Oil, Gas and Chemicals Applications market are available:
- Top 900+ Oil, Gas and Chemicals Applications Vendors and Market Forecast 2021-2026
- 2021 Oil, Gas and Chemicals Applications Market By Functional Market (16 Markets)
- 2021 Oil, Gas and Chemicals Applications Market By Country (USA + 45 countries)
- 2021 Oil, Gas and Chemicals Applications Market By Region (Americas, EMEA, APAC)
- 2021 Oil, Gas and Chemicals Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
- 2021 Oil, Gas and Chemicals Applications Market By Customer Size (revenue, employee count, asset)
- 2021 Oil, Gas and Chemicals Applications Market By Channel (Direct vs Direct)
- 2021 Oil, Gas and Chemicals Applications Market By Product
Exhibit 4 shows our projections for the enterprise applications market by vertical segment, based on the buying preferences and the customer propensity to invest in new software within those industries as they continue to upgrade and replace many legacy industry-specific applications that have been identified and tracked in our Buyer Insight Database.
Oil, Gas and Chemicals Software Purchases Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database
On the buyer side, customers are investing in Oil, Gas and Chemicals systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.
Since 2010, our global team of researchers have been studying the patterns of the latest Oil, Gas and Chemicals software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.
Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these Government customer wins and losses from public and proprietary sources.
The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.
| Customer | Industry | Empl. | Revenue | Country | Vendor | New Product | Function |
| Exelon | Oil and Gas | 30000 | $33.53B | United States | Oracle | Oracle Autonomous Data Warehouse | Autonomous Database |
| Universal Pegasus International | Oil and Gas | 1500 | $1.75B | United States | Microsoft | Microsoft Dynamics 365 for Finance and Operations | Enterprise Resource Planning |
| Southwestern Energy | Oil and Gas | 2597 | $3.13B | United States | Oracle | Oracle HCM Cloud | Human Capital Management |
| Energizer | Oil and Gas | 5100 | $1.61B | United States | ADP | ADP GlobalView HCM | Human Capital Management |
| Danieli | Oil and Gas | 10000 | $3.00B | Italy | Amber Road | Amber Road’s Export On-Demand | Global Trade Management & Export Management Software |
| Siemens | Oil and Gas | 348000 | $75.60B | Germany | Amber Road | Amber Road’s China Trade Management | Global Trade Management & Export Management Software |
| NuScale Power | Oil and Gas | 600 | $38.0M | United States | Ansys | ANSYS Enterprise Cloud | Product Lifecycle Management & Engineering |
| LG&E and KU | Oil and Gas | 3200 | $3.00B | United States | Citrix | Citrix ShareFile | Enterprise File Sync and Sharing |
| Forum Energy Technologies | Oil and Gas | 2500 | $885.0M | United States | Dassault Systemes | Dassault Enovia PLM | Product Lifecycle Management |
| Siemens | Oil and Gas | 348000 | $75.60B | Germany | Five9 | Five9 Cloud | Customer Service and Support |
| Hilcorp Energy Company | Oil and Gas | 1350 | $500.0M | United States | Host Analytics | Host Analytics Cloud EPM Suite | Enterprise Performance Management |
| ElectroRoute | Oil and Gas | 35 | $10.0M | Ireland | IBM | IBM Cognos Business Intelligence | Business Intelligence |
| Engie | Oil and Gas | 152900 | $83.35B | France | IBM | IBM Omni-channel marketing (ex Unica) | Omni-channel Marketing |
| Preem.se | Oil and Gas | 1200 | $2.00B | Sweden | Infor | Infor M3 | Enterprise Resource Planning |
| Superior Plus Energy Services | Oil and Gas | 1100 | $570.0M | United States | ION Investment Group | OpenLink Findur | Treasury and Risk Management Solution |
| Abunayyan Holding | Oil and Gas | 4500 | $800.0M | Saudi Arabia | Microsoft | LinkedIn Talent Solutions | Talent Management |
| Diesel Direct, Inc | Oil and Gas | 300 | $100.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| Expro | Oil and Gas | 4500 | $1.40B | United Kingdom | Microsoft | Microsoft Office 365 | Content Management |
| Gerard Daniel Worldwide | Oil and Gas | 320 | $70.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| National Oilwell Varco | Oil and Gas | 31321 | $7.30B | United States | Microsoft | Microsoft Dynamics 365 for Finance and Operations | Enterprise Resource Planning |
| Osterman Propane LLC | Oil and Gas | 250 | $70.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| CenterPoint Energy | Oil and Gas | 7505 | $7.39B | United States | Oracle | Oracle HCM Cloud | Human Capital Management |
| CLK Enerji Yatırım A.Ş. | Oil and Gas | 200 | $80.0M | Turkey | Oracle | Oracle Utilities Customer Care and Billing | Customer Relationship Management |
| Engie | Oil and Gas | 152900 | $83.35B | France | Oracle | Oracle HCM Cloud | Human Capital Management |
| Samuel | Oil and Gas | 5300 | $3.67B | Canada | Oracle | Oracle HCM Cloud | Human Capital Management |
| Apollo Oil | Oil and Gas | 150 | $30.0M | United States | Sage | Sage X3 | Enterprise Resource Planning |
| Veolia | Oil and Gas | 179000 | $24.96B | France | Sage | Sage CRM | Customer Relationship Management |
| Baker Hughes | Oil and Gas | 58800 | $22.36B | United States | Salesforce | Service Cloud | Customer Service and Support |
| Chevron | Oil and Gas | 64700 | $129.92B | United States | Salesforce | Service Cloud | Customer Service and Support |
| Engie | Oil and Gas | 152900 | $83.35B | France | Salesforce | Salesforce CRM | Customer Relationship Management |
| Wärtsilä | Oil and Gas | 18000 | $5.50B | Finland | Salesforce | Service Cloud | Customer Service and Support |
| Concho | Oil and Gas | 2100 | $1.80B | United States | SAP | SAP Business Planning and Consolidation | Enterprise Performance Management |
| FMC Corporation | Oil and Gas | 7000 | $4.50B | United States | SAP | SAP Ariba | Source-to-Pay Procurement and Supply Chain Cloud |
| FMC Corporation | Oil and Gas | 7000 | $4.50B | United States | SAP | SAP S/4 HANA | Enterprise Resource Planning |
| Lampiris | Oil and Gas | 500 | $1.75B | Belgium | SAP | SAP Cloud for Customer | Customer Relationship Management |
| Sunoco Lp | Oil and Gas | 11000 | $3.20B | United States | SciQuest | Sciquest Source-to-Settle Suite | Procurement |
| Trafigura | Oil and Gas | 5326 | $127.60B | Netherlands | Thunderhead | Thunderhead ONE Engagement Hub | Customer Engagement Platform |
| Sabine Oil | Oil and Gas | 223 | $464.0M | United States | TIBCO Software | TIBCO Spotfire | Data Visualization & Analytics Software |
| Veolia | Oil and Gas | 179000 | $24.96B | France | Tidemark | Tidemark EPM | Enterprise Performance Management |
| SP Energy Networks | Oil and Gas | 9200 | $6.59B | United Kingdom | Verint Systems | Verint Engagement Management | Engagement Management |
| Repsol | Oil and Gas | 24000 | $50.00B | Spain | Wolters Kluwer | CCH Tagetik | Enterprise Performance Management |
| Hawaiian Electric Industries | Oil and Gas | 3900 | $2.52B | United States | Workiva | Wdesk | Enterprise Performance Management |
| Pioneer Energy Services | Oil and Gas | 1300 | $541.0M | United States | Workiva | Wdesk | Enterprise Performance Management |
Source: Apps Run The World, September 2022
Further Readings
An expanded version of this report covers the top 900+ Oil, Gas and Chemicals Software Vendors, offering in-depth analysis of the market dynamics, vendors’ Strengths, Customers, Opportunities, Risks and Ecosystems as well as their ability to gain Shares (SCORES) within their respective space. We also offer win-loss analysis of the quarterly wins of these top vendors and whether incumbents and upstarts pose any real threat to their standing amid shifting market requirements and user preferences.
More Enterprise Applications Research Findings
Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) and the world’s 500 largest Cloud Applications Vendors (Cloud Top 500) ranked by their 2015-2021 product revenues.
Their 2021 results are being broken down, sorted and ranked across 16 functional areas (from Analytics to Treasury and Risk Management) and by 21 vertical industries (from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.
Research Methodology
Each year our global team of researchers conduct an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market. We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.
Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.
The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.
