Top 10 Oil, Gas and Chemicals Software Vendors, Market Size and Market Forecast 2021-2026

Worldwide Oil, Gas and Chemicals Applications Market to reach $12.7 billion by 2026, compared with $10.5 billion in 2021 at a compound annual growth rate of 5.3%.

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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.

2021 Oil and Gas Applications Market Shares Split By Top 10 Oil and Gas Vendors and Others v1
Exhibit 4 – 2021 Oil and Gas Applications Market Shares Split By Top 10 Oil and Gas Vendors and Others

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
Year202120262021-2026 CAGR, %
Total10458126905.3%

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.

RankVendor2020 Oil and Gas Apps Revenues, $M2021 Oil and Gas Apps Revenues, $MYoY Growth2021 Oil and Gas Market Share, %Recent Developments
1Microsoft Subscribe Subscribe8.9% SubscribeMicrosoft 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.
2SAP Subscribe Subscribe0.5% SubscribeIn 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.
3Salesforce.com Subscribe Subscribe9.2% SubscribeFor 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.
4AVEVA Group Subscribe Subscribe2.3% SubscribeWith 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.
5Aspen Technology Subscribe Subscribe18.7% SubscribeIn 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.
6Infor Subscribe Subscribe6.6% SubscribeIn 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.
7Oracle Subscribe Subscribe4.8% SubscribeIn 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.
8Quorum Software Subscribe Subscribe21.9% SubscribeIn 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.
9P2 Energy Solutions Subscribe Subscribe2.5% SubscribeIn 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.
10Hexagon Subscribe Subscribe14.8% SubscribeIn 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 Subscribe6.7% Subscribe 
 Other Subscribe Subscribe6.8% Subscribe 
 Total9797104586.7%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.

Worldwide Enterprise Applications Market Forecast 2021-2026, By Vertical Market, $M
Exhibit 4 – Worldwide Enterprise Applications Market Forecast 2021-2026, By Vertical Market, $M

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.

CustomerIndustryEmpl.RevenueCountryVendorNew ProductFunction
ExelonOil and Gas30000$33.53BUnited StatesOracleOracle Autonomous Data WarehouseAutonomous Database
Universal Pegasus InternationalOil and Gas1500$1.75BUnited StatesMicrosoftMicrosoft Dynamics 365 for Finance and OperationsEnterprise Resource Planning
Southwestern EnergyOil and Gas2597$3.13BUnited StatesOracleOracle HCM CloudHuman Capital Management
EnergizerOil and Gas5100$1.61BUnited StatesADPADP GlobalView HCMHuman Capital Management
DanieliOil and Gas10000$3.00BItalyAmber RoadAmber Road’s Export On-DemandGlobal Trade Management & Export Management Software
SiemensOil and Gas348000$75.60BGermanyAmber RoadAmber Road’s China Trade ManagementGlobal Trade Management & Export Management Software
NuScale PowerOil and Gas600$38.0MUnited StatesAnsysANSYS Enterprise CloudProduct Lifecycle Management & Engineering
LG&E and KUOil and Gas3200$3.00BUnited StatesCitrixCitrix ShareFileEnterprise File Sync and Sharing
Forum Energy TechnologiesOil and Gas2500$885.0MUnited StatesDassault SystemesDassault Enovia PLMProduct Lifecycle Management
SiemensOil and Gas348000$75.60BGermanyFive9Five9 CloudCustomer Service and Support
Hilcorp Energy CompanyOil and Gas1350$500.0MUnited StatesHost AnalyticsHost Analytics Cloud EPM SuiteEnterprise Performance Management
ElectroRouteOil and Gas35$10.0MIrelandIBMIBM Cognos Business IntelligenceBusiness Intelligence
EngieOil and Gas152900$83.35BFranceIBMIBM Omni-channel marketing (ex Unica)Omni-channel Marketing
Preem.seOil and Gas1200$2.00BSwedenInforInfor M3Enterprise Resource Planning
Superior Plus Energy ServicesOil and Gas1100$570.0MUnited StatesION Investment GroupOpenLink FindurTreasury and Risk Management Solution
Abunayyan HoldingOil and Gas4500$800.0MSaudi ArabiaMicrosoftLinkedIn Talent SolutionsTalent Management
Diesel Direct, IncOil and Gas300$100.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
ExproOil and Gas4500$1.40BUnited KingdomMicrosoftMicrosoft Office 365Content Management
Gerard Daniel WorldwideOil and Gas320$70.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
National Oilwell VarcoOil and Gas31321$7.30BUnited StatesMicrosoftMicrosoft Dynamics 365 for Finance and OperationsEnterprise Resource Planning
Osterman Propane LLCOil and Gas250$70.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
CenterPoint EnergyOil and Gas7505$7.39BUnited StatesOracleOracle HCM CloudHuman Capital Management
CLK Enerji Yatırım A.Ş.Oil and Gas200$80.0MTurkeyOracleOracle Utilities Customer Care and BillingCustomer Relationship Management
EngieOil and Gas152900$83.35BFranceOracleOracle HCM CloudHuman Capital Management
SamuelOil and Gas5300$3.67BCanadaOracleOracle HCM CloudHuman Capital Management
Apollo OilOil and Gas150$30.0MUnited StatesSageSage X3Enterprise Resource Planning
VeoliaOil and Gas179000$24.96BFranceSageSage CRMCustomer Relationship Management
Baker HughesOil and Gas58800$22.36BUnited StatesSalesforceService CloudCustomer Service and Support
ChevronOil and Gas64700$129.92BUnited StatesSalesforceService CloudCustomer Service and Support
EngieOil and Gas152900$83.35BFranceSalesforceSalesforce CRMCustomer Relationship Management
WärtsiläOil and Gas18000$5.50BFinlandSalesforceService CloudCustomer Service and Support
ConchoOil and Gas2100$1.80BUnited StatesSAPSAP Business Planning and ConsolidationEnterprise Performance Management
FMC CorporationOil and Gas7000$4.50BUnited StatesSAPSAP AribaSource-to-Pay Procurement and Supply Chain Cloud
FMC CorporationOil and Gas7000$4.50BUnited StatesSAPSAP S/4 HANAEnterprise Resource Planning
LampirisOil and Gas500$1.75BBelgiumSAPSAP Cloud for CustomerCustomer Relationship Management
Sunoco LpOil and Gas11000$3.20BUnited StatesSciQuestSciquest Source-to-Settle SuiteProcurement
TrafiguraOil and Gas5326$127.60BNetherlandsThunderheadThunderhead ONE Engagement HubCustomer Engagement Platform
Sabine OilOil and Gas223$464.0MUnited StatesTIBCO SoftwareTIBCO SpotfireData Visualization & Analytics Software
VeoliaOil and Gas179000$24.96BFranceTidemarkTidemark EPMEnterprise Performance Management
SP Energy NetworksOil and Gas9200$6.59BUnited KingdomVerint SystemsVerint Engagement ManagementEngagement Management
RepsolOil and Gas24000$50.00BSpainWolters KluwerCCH TagetikEnterprise Performance Management
Hawaiian Electric IndustriesOil and Gas3900$2.52BUnited StatesWorkivaWdeskEnterprise Performance Management
Pioneer Energy ServicesOil and Gas1300$541.0MUnited StatesWorkivaWdeskEnterprise 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.