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AI Redefining Drilling Data Management Systems, Market to Grow by USD 12.6 Billion (2023-2027) with Enhanced Productivity and Transparency – Technavio Report

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2 years ago

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NEW YORK, Sept. 17, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global drilling data management systems market  size is estimated to grow by USD 12.6 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  9.19%  during the forecast period.  Drilling data management system to improve productivity and transparency is driving market growth, with a trend towards advent of big data analytics. However, fluctuations in crude oil prices  poses a challenge. Key market players include Baker Hughes Co., Halliburton Co., Honeywell International Inc., International Business Machines Corp., NOV Inc., Oracle Corp., Pason Systems Inc., Schlumberger Ltd., Dell Technologies Inc., SAP SE, SAS Institute Inc., Accenture Plc, Capgemini Service SAS, Wipro Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Trackem, and Teradata Corp..

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Forecast period

2023-2027

Base Year

2022

Historic Data

2017 – 2021

Segment Covered

Component (Services, Software, and Hardware ), Application (Oil, gas, Energy, and power ), and Geography (North America, Middle East and Africa, Europe, APAC, and South America)

Region Covered

North America, Middle East and Africa, Europe, APAC, and South America

Key companies profiled

Baker Hughes Co., Halliburton Co., Honeywell International Inc., International Business Machines Corp., NOV Inc., Oracle Corp., Pason Systems Inc., Schlumberger Ltd., Dell Technologies Inc., SAP SE, SAS Institute Inc., Accenture Plc, Capgemini Service SAS, Wipro Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Trackem, and Teradata Corp.

Key Market Trends Fueling Growth

The oil and gas industry faces challenges such as the depletion of oil wells, the need for accurate information on new drilling locations, and the requirement to comply with regulations regarding pollution and waste reduction. To address these issues, the industry employs various technologies for efficient drilling operations. Consequently, vast amounts of data are generated, which, when effectively utilized, can revolutionize the sector. Big data analytics, initially popularized by tech giants like Yahoo, Google, and Facebook, is now being adopted in the oil and gas, chemical and petrochemical, and power industries for process analysis. The fusion of SCADA and big data analytics is a burgeoning trend, enabling prompt decision-making, minimizing errors, and identifying problem origins. Big data analytics enables oil and gas companies to analyze historical data and trends to make future predictions. Companies gather data from various processes, including drill tip pressure and oil and energy consumption, to predict optimal drilling locations and minimize expenses. Big data analytics provides actionable insights, enhancing process reliability and improving company efficiency and production. Vendors, such as Emerson Electric Co., are integrating big data analytics into their drilling data management systems and solutions, like the partnership with Microsoft’s Azure platform in September 2019. Though still in its growth phase, the implementation of big data analytics in the oil and gas industry holds the potential to significantly increase productivity, driving the expansion of the global Drilling Data Management Systems market. 

In today’s volatile oil and gas industry, effective drilling data management is crucial for optimizing drilling operations and ensuring safety. With states of emergency and lockdowns disrupting traditional data exchange methods, real-time data management systems have gained popularity. Engineering and geoscience systems are essential for drilling engineering parameters, asset team members, and wellbore location tracking. Oil rigs rely on wireless data transfer and software systems for drilling data management. EMC, SAP, Mineral Resource, and Revel Ridge are leading providers. Real-time data exchange formats enable efficient data sharing between rig sites and distribution industry partners. Advanced drilling technologies like horizontal, multilateral wells, and shale oil/gas require data management systems. Cybersecurity concerns are paramount, with conventional reservoir investigation, energy consumption, and asset optimization all depending on secure data exchange. Well control, gas hydrates, and economically viable production are critical drilling management parameters. Drilling data management systems facilitate data exchange between drilling management teams, enabling effective investigation and optimization of drilling operations. In summary, advanced drilling data management systems are vital for the oil and gas industry’s success, providing real-time data exchange, asset optimization, and cybersecurity. 

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Market Challenges

The oil and gas industry’s recovery from the 2016 oil price slump continues to influence the Drilling Data Management Systems (DDMS) market. Crude oil production in the US reached an all-time high of 10.07 million barrels per day (b/d) in November 2017. However, various factors, including global supply and demand imbalances, geopolitical tensions, and technological advancements, impact crude oil prices, which in turn affect the DDMS market. A surplus of oil supply or decreased demand can lead to lower crude oil prices, potentially reducing investments in the energy sector and decreasing demand for DDMS. Conversely, higher crude oil prices can increase investments in oil exploration and production, expanding the market for DDMS technologies. Additionally, rising crude oil prices can also boost demand for alternative energy sources, offering opportunities for the DDMS market in the renewable energy sector. Overall, the DDMS market’s growth is closely tied to crude oil price fluctuations during the forecast period.In the Oil and Gas industry, managing drilling data effectively is crucial for asset optimization, well control, and production efficiency. With the rise of advanced drilling techniques like horizontal and multilateral wells, handling data from unconventional resources such as shale oil and shale gas becomes increasingly complex. Cybersecurity concerns are also a major challenge, as drilling data is valuable and sensitive. Drilling management systems must handle data from various sources, including conventional reservoirs and exploration wells. Database administration is essential for real-time analysis and predictive analytics to improve operational efficiency. The requirement for data management extends to coal, crude oil, and gas hydrates. Investments in drilling management systems should focus on economically viable solutions that can handle data from oil rigs in remote areas and account for formation characteristics. Hardware and software solutions must ensure data handling and provide advanced features like rig count monitoring and production rate analysis. The energy demand and tourism industry rely on the Oil and Gas sector’s production, making data management systems a critical component of the financial industry’s internet market. BP Statistical Review of World Energy provides insights into the importance of data management in the industry.

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Segment Overview 

This drilling data management systems market report extensively covers market segmentation by

Component 1.1 Services1.2 Software1.3 HardwareApplication 2.1 Oil2.2 gas2.3 Energy2.4 powerGeography 3.1 North America3.2 Middle East and Africa3.3 Europe3.4 APAC3.5 South America

1.1 Services-  Drilling data management systems (DDMS) are essential tools for oil and gas companies to optimize drilling operations. These systems collect, store, and analyze data in real-time, enabling better decision-making and improved drilling performance. DDMS help reduce costs by minimizing non-productive time, enhancing drilling efficiency, and ensuring regulatory compliance. Companies investing in DDMS can gain a competitive edge by gaining valuable insights into drilling operations and predicting potential issues before they become major problems.

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Research Analysis

Drilling Data Management Systems (DDMS) are essential for optimizing drilling operations in the oil and gas industry. These systems enable real-time data collection, analysis, and management of drilling parameters such as well control, asset optimization, and production rate. DDMS plays a crucial role in horizontal, multilateral well drilling and shale oil and gas exploration and production. Conventional reservoirs and unconventional resources like gas hydrates also benefit from DDMS. Advanced drill engineering systems, geoscience systems, and engineering team members rely on these systems for database administration, wellbore location tracking, and rig site management. Cybersecurity concerns are a growing issue in DDMS, as the systems handle sensitive data. States of emergency, lockdowns, and distribution industry disruptions necessitate data management solutions. Wireless data transmission is increasingly common, enhancing the need for reliable and secure DDMS. DDMS supports various drilling activities, including drilling engineering, asset optimization, well control, and production management. It facilitates collaboration among team members and ensures economically viable drilling operations. DDMS parameters include drilling engineering data, production data, and well control data.

Market Research Overview

The Drilling Data Management Systems market encompasses advanced software and hardware solutions designed to optimize drilling operations in the oil and gas industry. These systems facilitate data handling, real-time analysis, and predictive analytics for asset optimization, well control, and production rate monitoring. They cater to both conventional and unconventional resources, including conventional reservoirs, shale oil, and shale gas. Drilling data management systems are essential for managing drilling parameters, wellbore location, and rig site operations. They enable remote data exchange, wireless data transfer, and data storage in various formats, ensuring compatibility with engineering and geoscience systems. Cybersecurity concerns are a significant consideration in the drilling data management market, as the industry deals with sensitive information. The market also caters to various sectors, such as energy demand, financial industry, tourist industry, distribution industry, and states of emergency, offering solutions for data management during lockdowns and distribution of resources. The market includes various software systems, such as EMC, SAP, Mineral Resource, Revel Ridge, and others, which cater to the requirement of asset team members for investigation, optimization, and energy consumption analysis. The market is driven by the increasing rig count, exploration and production activities, and the need for operational efficiency in drilling engineering. The drilling data management systems market also caters to the exploration and production of coal, crude oil, gas hydrates, and other conventional and unconventional resources. The market offers solutions for managing drilling data from oil rigs, handling data from advanced drills, and monitoring multilateral wells and horizontal wells. The market for drilling data management systems is expected to grow significantly due to the increasing demand for data management solutions in the oil and gas industry, the need for real-time data analysis, and the requirement for optimization of drilling operations to make them economically viable. The market is expected to witness significant investments in the coming years, driven by the increasing number of drilling activities and the need for advanced drilling technologies. In conclusion, the drilling data management systems market plays a crucial role in the oil and gas industry by providing advanced software and hardware solutions for managing drilling data, optimizing drilling operations, and ensuring operational efficiency. The market caters to various sectors and offers solutions for managing data from conventional and unconventional resources, ensuring data security, and facilitating real-time data analysis and predictive analytics. The market is expected to grow significantly in the coming years, driven by the increasing demand for data management solutions in the oil and gas industry and the need for optimization of drilling operations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentServicesSoftwareHardwareApplicationOilGasEnergyPowerGeographyNorth AmericaMiddle East And AfricaEuropeAPACSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Portland General Electric declares dividend

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45 minutes ago

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July 25, 2026

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PORTLAND, Ore., July 24, 2026 /PRNewswire/ — The board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.55125 per share.

The company’s dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term.

The quarterly dividend is payable on or before October 15, 2026, to shareholders of record at the close of business on September 25, 2026.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to nearly 960,000 customers serving an area of approximately 2 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering economies, delivering safe, affordable and reliable electricity while working to transform energy systems to meet evolving customer needs. PGE continues to make progress towards emissions reduction targets, and customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE is ranked a top ten utility in the 2025 Forrester U.S. Customer Experience Index. In 2025, PGE employees and retirees volunteered over 18,300 hours to more than 400 nonprofits organizations. Through the PGE Foundation, along with corporate contributions and the employee matching gift program, more than $5 million was directed to charitable organizations supporting economic growth and community resilience across our service area. For information: portlandgeneral.com/news.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

Forward-looking statements include statements, other than statements of historical or current fact, regarding the Company’s amount and timing of dividends payable as well as other statements containing words such as “committed to,” “targets,” or similar expressions.

There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; the timing or amount of dividends paid; the timing or outcome of various legal and regulatory actions; changes in the Company’s business strategy; increases in capital expenditures; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE’s credit ratings and outlook on such credit ratings restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the United States Securities and Exchange Commission (SEC), including our annual report on Form 10-K for the year ended December 31, 2025 and subsequent quarterly reports on Form 10-Q. These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov and on the Company’s website, investors.portlandgeneral.com. Investors should not rely unduly on any forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

Media Contact:
Drew Hanson
Corporate Communications
Phone: 503-464-2067

Investor Contact:
Erin Schwartz
Investor Relations
Phone: 503-464-7751

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-302834503.html

SOURCE Portland General Company

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Technology

Care Career Announces Acquisition of MAS Medical Staffing, Completing Its First Acquisition Phase and Expanding Annual Revenue Beyond $150 Million, with a Path to Exceed a Quarter Billion by the End of 2026 Through Additional Acquisitions and Organic Growth

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3 hours ago

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July 24, 2026

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WOODBRIDGE, N.J., July 24, 2026 /PRNewswire/ — Care Career, a rapidly growing healthcare workforce technology organization, today announced the acquisition of MAS Medical Staffing, one of the Northeast’s leading healthcare workforce organizations. Financial terms of the transaction were not disclosed.

The acquisition represents Care Career’s seventh strategic acquisition in the past 24 months, further strengthening the company’s position as one of the largest healthcare workforce organizations in the United States while accelerating its strategy to redefine the future of healthcare workforce management through artificial intelligence, enterprise technology, and workforce innovation.

MAS Medical Staffing has built an outstanding reputation for delivering high-quality workforce solutions through strong client relationships, exceptional clinician engagement, and deep regional expertise throughout the Northeastern United States. The acquisition significantly expands Care Career’s geographic footprint while broadening its access to healthcare professionals, client relationships, workforce data, and regional market intelligence.

Care Career is building a technology-enabled workforce ecosystem powered by its AI-powered workforce platform, where every acquisition contributes not only additional market presence, but also expanded data, enhanced artificial intelligence capabilities, digital innovation, and operational scale that continuously improve the experience for clients and clinicians alike. As the platform grows, every clinician engagement, client interaction, credential, placement, and workforce trend strengthens the intelligence of Career’s technology, creating a continuously improving ecosystem designed to deliver faster, smarter, and more effective workforce solutions.

The acquisition also brings MAS Medical Staffing’s MAESTRA® engagement technology, along with its client relationships and clinician network, directly onto Career’s AI-powered workforce platform. MAESTRA’s scheduling, credentialing, and communication capabilities will be integrated into Care Career’s existing technology stack, further enhancing clinician engagement across onboarding, scheduling, and career management while providing healthcare organizations with greater workforce visibility and operational efficiency.

“Our vision is to build the AI-powered infrastructure that modernizes healthcare workforce management,” said Siva Konatham, Group President and Chief Executive Officer of Care Career. “Under my leadership, Care Career is focused on transforming a fragmented, labor-intensive industry into a data-driven, technology-enabled ecosystem that improves speed, efficiency, and workforce visibility for healthcare providers. Each acquisition strengthens our platform intelligence, expands our scale, and enhances our margin potential. By integrating advanced analytics, AI automation, and digital engagement tools, we are not just growing revenue—we are building a smarter, more scalable model positioned to lead the next era of healthcare workforce solutions.”

The combined organization will leverage expanded recruiting resources, centralized credentialing, advanced workforce analytics, AI-enabled automation, and digital engagement technologies—all powered by Care Career’s AI-powered workforce platform—to deliver broader recruiting capabilities, faster response times, enhanced workforce insights, and expanded national coverage. Clinicians will benefit from a seamless digital experience that simplifies every stage of their careers—from job discovery and credentialing to onboarding, scheduling, communication, and long-term career development.

With seven strategic acquisitions completed in less than two years, representing the first round of acquisitions now totaling more than $150 million in annual revenue, Care Career has rapidly expanded its national presence while executing a disciplined growth strategy focused on technology integration, operational excellence, and workforce innovation. The company has also signed additional Letters of Intent with other entities with expected close dates in the third quarter of 2026. Upon completion of these transactions, coupled with organic growth, Care Career expects consolidated annual revenue to exceed a quarter of a billion dollars by the end of 2026.

The addition of MAS Medical Staffing further strengthens the organization’s ability to serve healthcare systems, hospitals, long-term care providers, outpatient facilities, and other healthcare organizations across an increasingly diverse geographic footprint.

“The healthcare workforce industry is entering a new era where technology, artificial intelligence, and data-driven decision-making will define the market leaders,” Konatham added. “Every acquisition we complete expands the intelligence of our AI-powered workforce platform, enhances the value we deliver to our clients, and creates more opportunities for clinicians. We believe the combination of exceptional people, innovative technology, and strategic scale positions Care Career to lead the next generation of healthcare workforce solutions.”

About Care Career

Care Career is a technology-enabled healthcare workforce solutions company dedicated to transforming how healthcare organizations recruit, engage, credential, deploy, and retain clinical talent. Powered by its proprietary AI-powered workforce platform and supported by advanced artificial intelligence, enterprise technology, and workforce analytics, Care Career is building an intelligent healthcare workforce ecosystem that connects providers and clinicians more efficiently while improving workforce performance, operational effectiveness, and patient care. Following seven strategic acquisitions over the past 24 months the first round of acquisitions totaling more than $150 million in annual revenue and with additional signed LOIs under contract expected to complete shortly, positioning the company to surpass a quarter of a billion dollars in consolidated annual revenue by the end of 2026, Care Career has become one of the nation’s largest and fastest-growing healthcare workforce organizations, serving healthcare providers and clinicians across the United States.

About MAS Medical Staffing

MAS Medical Staffing is a premier healthcare workforce organization recognized for exceptional service, strong client partnerships, and a commitment to connecting healthcare professionals with rewarding career opportunities. With an established presence throughout the Northeastern United States, MAS Medical Staffing has earned a reputation for quality, responsiveness, and delivering workforce solutions that help healthcare providers meet their evolving workforce needs while supporting clinicians throughout every stage of their careers.

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SOURCE Care Career

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PointsKash Demonstrates How Businesses Can Build on Bitcoin Without Burdening the Blockchain

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3 hours ago

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July 24, 2026

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As industry debate surrounding Bitcoin Improvement Proposal (BIP-110) intensifies, PointsKash unveils an architecture designed to work regardless of the proposal’s outcome.

SCOTTSDALE, Ariz., July 24, 2026 /PRNewswire/ — As the global Bitcoin community debates Bitcoin Improvement Proposal 110 (BIP-110) and the future of data stored on the Bitcoin blockchain, PointsKash, Inc. today announced that its next-generation kiosk infrastructure was intentionally designed to operate efficiently under any outcome of the proposal.

Rather than storing operational data directly on the Bitcoin blockchain, PointsKash utilizes a layered architecture that combines Bitcoin‘s unmatched security with modern decentralized communications technology. Every transaction, machine event, system update, and operational record generated across the PointsKash network is cryptographically verified, securely maintained off-chain, and anchored to the Bitcoin blockchain through a single immutable cryptographic proof.

This approach allows thousands of operational events to be permanently verified while utilizing only a minimal amount of blockchain data.

As discussion surrounding BIP-110 has intensified across the digital asset industry, PointsKash believes the debate does not require choosing between innovation and responsible blockchain stewardship.

“The industry has been debating whether businesses can build meaningful applications on Bitcoin without unnecessarily consuming blockchain space,” said Michael Herron, Chief Executive Officer of PointsKash. “We believe we’ve demonstrated that the answer is yes. Bitcoin provides the world’s most trusted immutable timestamp and security layer, while higher-volume operational data belongs on technologies specifically designed to manage it. By combining both, we’ve built an architecture that is scalable, transparent, and future-ready regardless of how the BIP-110 discussion ultimately evolves.”

The company’s infrastructure assigns every kiosk its own unique cryptographic identity, allowing each machine to securely authenticate every transaction and operational event. Those records are then independently verifiable through cryptographic proofs while remaining resistant to alteration or manipulation—even by PointsKash itself.

According to the company, this architecture delivers several significant advantages:

Mathematically verifiable transaction records for regulators, banking partners, auditors, and enterprise customers.Improved network reliability, allowing kiosks to continue operating during temporary connectivity interruptions without losing transaction history.Enhanced cybersecurity, with every machine maintaining its own authenticated identity and secure communications.A scalable blockchain architecture that minimizes on-chain data while preserving complete auditability.

“Bitcoin was created to provide trust, security, and permanence—not to become a storage system for every piece of application data,” Herron added. “Our philosophy has always been simple: use Bitcoin for what it does better than anyone else—creating immutable proof that records have never been altered—and leverage modern decentralized technologies for everything else. We believe that’s the future of enterprise blockchain infrastructure.”

PointsKash believes this architecture positions the company among a new generation of fintech innovators utilizing Bitcoin as a secure trust layer while developing scalable financial applications for enterprise deployment.

The technology also establishes the foundation for future blockchain-based financial products currently under development, including enhanced digital audit capabilities, verifiable financial records, enterprise licensing opportunities, and next-generation digital asset infrastructure.

As the Bitcoin ecosystem continues to mature, PointsKash believes its technology demonstrates that responsible innovation and blockchain scalability can successfully coexist—providing enterprise organizations with the confidence to build on Bitcoin without contributing unnecessary data to the network.

About PointsKash, Inc.

PointsKash, Inc. is a financial technology company developing an integrated ecosystem of AI-enabled self-service financial centers, digital banking, digital payment solutions, cryptocurrency services, loyalty rewards, enterprise merchant technologies, and mobile financial applications. Through proprietary software, Artificial Intelligence, and strategic partnerships, PointsKash is building innovative financial solutions designed to empower consumers, merchants, and enterprise organizations throughout North America.

For more information, visit www.pointskash.com.

Media Contact

PointsKash, Inc.
Investor Relations
info@pointskash.com
www.pointskash.com

Forward-Looking Statements

This press release contains forward-looking statements regarding anticipated technology integrations, Artificial Intelligence initiatives, product development, future commercialization plans, expected operational efficiencies, business strategy, and future growth. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could affect actual results include, but are not limited to, technology development timelines, integration efforts, financing, regulatory developments, market conditions, and other risks facing the Company. PointsKash undertakes no obligation to update any forward-looking statements except as required by applicable law.

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SOURCE PointsKash Inc.

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