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China Oil Industry IT Solution Market 2010-2014 Forecast and Analysis
Market Study
Published: June 2010
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Research from: IDC Research
Sector: Oil & Gas
This IDC study analyzes the oil industry in 2009. The study summarizes the trends that occurred in the industry in 2009 and analyzes the macroeconomic policy changes it underwent as well as the challenges and opportunities it is currently facing. It provides data on the industry's IT market revenue, technological maturity, application hotspots, and customer needs. It also analyzes in more detail the solution suppliers in the industry in terms of focus and ranking and provides profiles of the top 5 solution suppliers in 2009. Finally, it provides an insight into the market's outlook in the next five years.
This IDC study analyzes the oil industry in 2009. The study summarizes the trends that occurred in the industry in 2009 and analyzes the macroeconomic policy changes it underwent as well as the challenges and opportunities it is currently facing. It provides data on the industry's IT market revenue, technological maturity, application hotspots, and customer needs. It also analyzes in more detail the solution suppliers in the industry in terms of focus and ranking and provides profiles of the top 5 solution suppliers in 2009. Finally, it provides an insight into the market's outlook in the next five years.
"Oil enterprises need to develop a complete industrial chain to trim down costs and control risks, as is required by the oil industry. Government encouragement for the energy industry to adjust its structure will drive oil companies to start developing bio energy production technology and step in to the new energy industry. These efforts will bring about good opportunities for oil companies to transition into comprehensive energy enterprises. To meet this end, oil companies will accord priority to resource exploration and development, retail network renovation and expansion, clean energy R&D, and lean management. IDC predicts that the overall oil industry IT solution revenue will reach RMB 16.2 billion by 2014 at a compound annual growth rate (CAGR) of 13.1%. The IT industry solution market revenue will reach RMB 6.7 billion at a CAGR of 15.8%. In 2009, the top 3 oil industry IT solutions were enterprise resource planning (ERP), exploration and exploitation, and manufacturing execution system (MES) solutions. From 2009 to 2014, the three solutions with the highest CAGRs will be MES, sales management system, and supply chain management (SCM) solutions," says Freda Tong, research manager, Industry Research and Consulting, IDC China.
"Oil enterprises need to develop a complete industrial chain to trim down costs and control risks, as is required by the oil industry. Government encouragement for the energy industry to adjust its structure will drive oil companies to start developing bio energy production technology and step in to the new energy industry. These efforts will bring about good opportunities for oil companies to transition into comprehensive energy enterprises. To meet this end, oil companies will accord priority to resource exploration and development, retail network renovation and expansion, clean energy R&D, and lean management. IDC predicts that the overall oil industry IT solution revenue will reach RMB 16.2 billion by 2014 at a compound annual growth rate (CAGR) of 13.1%. The IT industry solution market revenue will reach RMB 6.7 billion at a CAGR of 15.8%. In 2009, the top 3 oil industry IT solutions were enterprise resource planning (ERP), exploration and exploitation, and manufacturing execution system (MES) solutions. From 2009 to 2014, the three solutions with the highest CAGRs will be MES, sales management system, and supply chain management (SCM) solutions," says Freda Tong, research manager, Industry Research and Consulting, IDC China.