AI in Oil and Gas Market Outlook 2023 Industry Share, Growth, Drivers, and Forecast Research Report 2031

The global AI in oil and gas market size was US$ 2.3 billion in 2021. The global AI in oil and gas market size is estimated to reach US$ 7.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 13.5% during the forecast period from 2022 to 2030.

Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17251

AI in the oil and Gas sector helps improve oil and gas output via predictive supervision and machinery check, dwelling, quality control, tank, exploration, reservoir monitoring, and other processes and improves profit in the oil and gas sector.

Factors Influencing Market Growth

- Searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and using the wells used to lift the crude oil or raw natural gas to the surface drive the overall market expansion.
- Midstream activities such as the processing, storage, and transportation of petroleum products may contain players that are experts in using pipelines, tanker ships, or storage facilities. Thus, driving the overall market growth.
- Temperature changes are dangerous to personal security throughout the oil and gas industry. Thus, restricting the overall market growth.

Effect of the COVID-19 Pandemic

COVID-19 had a severe impact on the overall market expansion. Due to the lockdowns and pandemic, the oil and gas sector observed a decline in the need. However, the use of AI in the oil and gas industry has grown immensely in these unusual circumstances.

Regional Analysis

North America has the highest market share in 2021 and is expected to continue this trend during the research period. The factors include the high use of AI technologies, a strong economy, around the oilfield operators and service providers, an increase in the existence of major AI software and system suppliers, and combined investment by government and private institutions for the expansion and development of R&D activities are anticipated to drive the overall market expansion in the region.

Browse Premium Research Report with Tables and Figures at :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17251

Leading Competitors

The prominent players in the global ai in oil and gas market are:
- Intel Corporation
- NVIDIA Corporation
- Cisco Systems
- Cloudera
- FuGenX Technologies
- Microsoft Corporation
- Google LLC
- IBM
- Oracle
- C3.AI
- Others

Segmentation Analysis
The global ai in oil and gas market segmentation focuses on Components, Operation, and Region.

Segmentation on the basis of Component
- Solution
- Services

Segmentation on the basis of Operation
- Upstream
- Midstream
- Downstream

Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17251

Segmentation on the basis of Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America

Key questions answered in the global market report are:

-- How does a global company acquire markets?
-- What are its core strategies and policies?
-- What factors will influence the market over the forecast period?
-- What are the factors driving and restraining the market?
-- What are the leading competitors in the global market?
-- Which region is growing at a higher pace in the global market?

Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17251

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES Tel: +1 888 212 3539 (US - TOLL FREE)
Website:https://www.reportocean.com/

This release was published on openPR.