The Market Reports

Synopsis

Artificial intelligence (AI) is a diverse scientific field, but within the oil and gas industry there are two primary applications of the technology: machine learning and data science.

The global AI in Oil & Gas market size is expected to reach US$ 5414.4 million by 2029, growing at a CAGR of 11.1% from 2023 to 2029. The market is mainly driven by the significant applications of AI in Oil & Gas in various end use industries.

The expanding demands from the Predictive Maintenance, Production Planning, Field Service and Material Movement, are propelling AI in Oil & Gas market. Hardware, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Software segment is estimated at % CAGR for the next seven-year period.

As an important force driving a new round of scientific and technological revolution, artificial intelligence has been of national strategic importance. Many governments introduces polices and increase capital investment to support AI companies. The Digital Europe plan adopted by the European Union will allocate €9.2 billion on high-tech investments, such as supercomputing, artificial intelligence, and network security.

In order to maintain its leading position, the United States will increase its investment in artificial intelligence research and development in non-defense fields, from US$1.6 billion to US$1.7 billion in 2022. According to the latest data released by IDC, global artificial intelligence revenue was US$432.8 billion in 2022, a year-on-year increase of 19.23%, including software, hardware and services.

Report Objectives

This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for AI in Oil & Gas, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.

Key Features of The Study:

This report provides in-depth analysis of the global AI in Oil & Gas market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.

This report profiles key players in the global AI in Oil & Gas market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, AI in Oil & Gas sales data, market share and ranking.

This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.

This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.

Key companies of AI in Oil & Gas covered in this report include IBM, Accenture, Google, Microsoft Corporation and Oracle, etc.

The global AI in Oil & Gas market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.

Market Segmentation

Company Profiles:

• IBM
• Accenture
• Google
• Microsoft Corporation
• Oracle

Global AI in Oil & Gas market, by region:

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, etc.)
• Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
• South America (Brazil, etc.)
• Middle East and Africa (Turkey, GCC Countries, Africa, etc.)

Global AI in Oil & Gas market, Segment by Type:

• Hardware
• Software
• Services

Global AI in Oil & Gas market, by Application

• Predictive Maintenance
• Production Planning
• Field Service
• Material Movement
• Quality Control
• Others

Core Chapters

Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of AI in Oil & Gas companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion