Middle East and North Africa Surface and Field Analytics Market

Overview

Middle East and North Africa Surface and Field Analytics Market reached US$ 376.6 million in 2023 and is expected to reach US$ 859.7 million by 2031, growing with a CAGR of 10.9% during the forecast period 2024-2031.

Several industries, including mining, oil and gas, agriculture and construction, are witnessing tremendous expansion and change in the MENA region. For these industries to maximize production, ensure effective resource management and optimize operations, surface and field analytics solutions are becoming more and more important.

Saudi Arabia continues to invest heavily in the discovery, growth and extraction of natural gas and oil resources. To maintain and grow output capacity, the government and Saudi Aramco, the state-owned oil firm, set aside a significant amount of funds to investigate new reserves, improve recovery methods and maintain current production facilities. With the increasing activities in exploration operations, the advanced surface and field analytics systems are becoming prevalent to improve resource discovery and optimize exploration efforts and operational performance.

As per International Trade Administration, Saudi Arabia accounts for approximately 17% of petroleum reserves of global reserves. The country ranks second in terms of petroleum reserves. Key leading oil and gas companies are present in Saudi Arabia, which in turn drives the oil and gas exploration drives. Therefore, owing to large number of reserves in Saudi Arabia drives the MENA market with the highest CAGR during the forecasted period.

Dynamics

Government Initiates on Smart Cities

To accommodate growing populations and enhance living standards, governments in the Middle East and North Africa are heavily investing in the building of smart cities. The region is rapidly becoming more urbanized. Smart city efforts greatly benefit from the insights that surface and field analytics software offer into a variety of urban infrastructure components, such as environmental management, transportation and utilities.

For instance, in January 2024, VERSES AI Inc., a cognitive computing startup creating next-generation intelligent software systems and Analogue, a business headed by Alex Kipman and supported by G42, have partnered to develop smart city initiatives that will change Abu Dhabi's urban environment. The evolution of smart cities has advanced with this collaboration. Governments are progressively implementing smart city projects to address the issues posed by an expanding population, driven by factors such as urbanization, effective resource management, public safety and energy optimization.

Higher Initial Investment Cost

Organizations, especially smaller companies with limited resources and budgets, may find it difficult to implement surface and field analytics solutions because of the initial investment and continuing expenses involved, which include data collecting, software licensing and hardware infrastructure. Exorbitant implementation and maintenance expenses could discourage prospective users, limiting the expansion of the industry. It may be difficult for many MENA organizations, particularly small and medium-sized businesses (SMEs) and government bodies with limited funds to pay the upfront expenses of obtaining surface and field analytics tools. Excessive upfront costs could discourage prospective users from investigating these solutions, especially if they believe the ROI would take a while to materialize.

Major expenditures in technology infrastructure, including hardware, software licenses and specialized equipment for data gathering and processing, are frequently necessary for the implementation of surface and field analytics solutions. Organizations operating in resource-constrained situations, where financing for technological improvements may be prioritized differently, may find these expenses exorbitant.

Driving Growth Opportunities in the MENA Through UAE's Renewable Energy Expansion

The rising use of renewable energy in UAE represents a step towards sustainability and cleaner energy. As a result, energy infrastructure expenditures in the MENA region are likely to expand, resulting in greater demand for surface and field analytics solutions to improve the effectiveness and performance of renewable energy projects.

For instance, in July 2023, to fulfill its increasing energy demands, United Arab Emirates intends to invest up to US$ 54 billion and triple its supply of renewable energy over the next seven years. "To meet the country's growing demand for energy, the updated national energy strategy aims to triple the contribution of renewable energy over the next seven years and invest 150 billion to 200 billion dirhams (US$ 40 billion to US$ 54 billion) during the same period."

Segment Analysis

The Middle East and North Africa Surface and Field Analytics market is segmented based on offering, deployment model, technology, application and region.

Service Customization and Outsourcing Driving MENA Surface Analytics Growth

Service providers provide customization and integration services to tailor analytics solutions to the specific needs of organizations in the region. The ensures that the solutions properly address MENA companies' particular challenges and objectives, resulting in increased acceptance and growth.

Some MENA organizations might opt to outsource surface and field analytics operations to specialized service providers. Managed services products cover the entire range of activities, from data collection and analysis to insights production and reporting, allowing organizations to focus on their core operations while leveraging external providers' expertise. Therefore, the service segment capturing the majority of regional segmental shares.

Geographical Penetration

Technological Investment and Rising Application in Energy Sector Propel Regional Growth

The UAE has a propensity for making considerable expenditures in technology infrastructure, such as modern telecommunications networks, smart city initiatives and high-speed internet connectivity. The technological foundations create a solid foundation for the implementation of surface and field analytics solutions.

In the energy industry, UAE is using surface and field analytics to improve the operation of oil and gas fields. Operators can anticipate possible difficulties, predict equipment failures and optimise production processes to maxssimise output while minimising downtime by analysing data from sensors and production equipment. Therefore, UAE is capturing the majority of the regional market shares.

Competitive Landscape

The major global players in the market include Thermo Fisher Scientific Inc., Northrop Grumman Corporation, Bruker Corporation, Shimadzu Corporation, Hexagon AB, Lockheed Martin Corporation, Environmental Systems Research Institute, Inc. (ESRI), Horiba Ltd, Intertek Group plc and Eurofins Scientific.

COVID-19 Impact

The epidemic disrupted activities in a variety of MENA companies, including agriculture, oil and gas, construction and utilities. Lockdown measures, travel restrictions and staffing limits hampered field operations and surface activities, causing a temporary halt in data collecting and analysis.

To meet the problems posed by the epidemic, several MENA enterprises expedited their deployment of remote monitoring and automation technologies. Surface and field analytics systems that enable remote data collecting, monitoring and analysis became popular as businesses attempted to reduce their physical presence in the field.

AI Impact

AI technologies allow for more complex and comprehensive analysis of surface and field data. Machine learning algorithms can process enormous quantities of data from sensors, drones, satellites to uncover patterns, anomalies and insights that traditional analytics methods may not detect.

AI technologies can automate a variety of jobs in surface and field operations. For example, AI-powered drones and robots may conduct jobs such as crop monitoring, infrastructure inspection and asset inventory management autonomously, decreasing the need for manual labor while increasing efficiency and safety. Therefore, AI and ML in surface and field analytics drive the significant number of innovations in the regional market.

By Offering

• Software
• Services

By Deployment Model

• Cloud
• On-Premise

By Technology

• Microscopy
• Spectroscopy
• Surface Analyzer
• X-Ray Analyzer
• Others

By Application

• Defense
• Agriculture
• Smart Cities Energy and Urban Infrastructure Developments
• Oil and Gas
• Natural Resources
• Others

By Country

• Saudi Arabia
• UAE
• Oman
• Bahrain
• Qatar
• Kuwait
• Egypt
• Iran
• Iraq
• Israel
• Rest of Middle East and North Africa

Key Developments

• On May 3, 2021, Thermo Fisher Scientific launched the Thermo Scientific Nexsa G2 surface analysis system, a fully automated x-ray photoelectron spectrometer (XPS) designed to boost productivity and innovation in academic and industrial labs.

Why Purchase the Report?

• To visualize the MENA Surface and Field Analytics market segmentation based on offering, deployment model, technology, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of surface and field analytics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Middle East and North Africa Surface and Field Analytics Market report would provide approximately 45 tables, 36 figures and 158 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies