Artificial Intelligence in Oil & Gas Market Report | Growth Projections & Advanced Technologies with Forecast To 2025

Market Scenario
Oil is one of the highly valued commodities in energy sector, however concern over environmental impact due to production and consumption of energy persist. Some of the AI solutions are top-down intelligent reservoir modeling, surrogate reservoir modeling, shale analytics and process optimisation. Increasing adaption of automation, pressure for reducing production cost and rise in investment for this market are some of the drivers responsible for growth of the market. Falling oil prices in global market is major concern for oil companies to maintain profit margin, this drives the adaptation of Ai in order to carry out planning & forecasting, drilling, remote logistic and maintenance management, helps in expanding the market. Security of generated data and cyber security are major concern factor challenging the players in the market.

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Segmentation
The global AI in oil & gas market is segmented on the basis of type, application and function.
On the basis of type, the market is segmented into hardware, software and services.
On the basis of application, the market is segmented into upstream, midstream and downstream.
On the basis of function, the market is segmented into Field Service, Material Movement, Predictive Maintenance, Production Planning and Quality Control.

Regional Analysis
North America is a largest contributor to the market due to rising investment to developed effective infrastructure and increasing demand for automation and digitalisation, followed by Europe region. Middle East and Africa is expected to grow at higher rate in this market as discovery of new reservoir are there which increased the demand of AI.

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Key Players
The key players in the market are: Accenture, Cisco, ExxonMobil, Google, IBM, Infosys, Intel, Microsoft, Oracle and Shell.

Key Question Answered: 
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in global artificial intelligence in oil & gas market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?

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