Press release
12.66% Growth Rate for AI in Oil and Gas Market by 2022 - IBM , Google , Microsoft , Intel , Oracle and Others
AI in Oil and Gas Market Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2022. It aims at estimating the market size and the growth potential of this market across different segments, such as industry, application, solution, type, and region.
AI in Oil & Gas market is projected to reach USD 2.85 billion by 2022, growing at a CAGR of 12.66%, from 2017 to 2022. Download Here Free Sample Research Report of AI in Oil and Gas Market at https://www.reportsnreports.com/contacts/requestsample.aspx?name=1251977 .
“The Midstream Segment is expected to grow at the highest CAGR from 2017 to 2022.”
The Midstream Segment is expected to grow at the highest CAGR in the global AI in Oil & Gas market during the forecast period. The growth in the shale oil and gas production in the US is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals. AI is widely used in the midstream sector to gather data during the transportation process through pipelines and provide the same to the human-machine interface in order to control the process.
“North America: The largest market for artificial intelligence in oil & gas and Middle East & Africa growing at the highest rate”
North America is currently the largest market for AI in Oil & Gas, followed by the markets in Europe and Asia Pacific. Rising investments in the Oil & Gas infrastructure and increased focus toward automation and digitalization are expected to drive AI in the Oil & Gas market during the forecast period.
The Middle East and Africa is the fastest market for AI in Oil & Gas due to the recent discovery of offshore reserves in the Red Sea region. The increase in E&P activities is likely to boost the demand for AI solutions during the forecast period.
Report Highlights:
• To track and analyze competitive developments such as joint ventures, mergers & acquisitions, and new product launches, in AI in the oil & gas market
• To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To estimate the size of the global AI in the oil & gas market in terms of value
• To study the individual growth trends of the providers of AI in the oil & gas market, their future expansions, and analyze their contributions to the market
• To forecast the revenue of market segments with respect to regions, namely, North America, Europe, South America, Asia Pacific, and the Middle East and Africa
• To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market, covered by AI in the oil & gas market and various regions
• To strategically profile key market players and comprehensively analyze their market position and core competencies
Target Audience for AI in Oil and Gas Market : AI system providers, AI manufacturers and suppliers, Environmental research institutes, Government and research organizations, Institutional investors, Technology providers, National and local government organizations, Research organizations and consulting companies.
A Discount (Up to 30%) can be asked before order a copy of Cutting Balloons Market report @ https://www.reportsnreports.com/contacts/discount.aspx?name=1251977 .
Most Popular Companies in the AI in Oil and Gas Market include are IBM (US), Intel (US), Microsoft (US), Accenture (Republic of Ireland), Google (US), Microsoft (US), Oracle (US), Numenta (US), Sentient technologies (US), Inbenta (US), General Vision (US), Cisco (US), FuGenX Technologies (US), Infosys (India), Hortonworks (US), Royal Dutch Shell (Netherlands).
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