Press release
Artificial Intelligence (AI) in Oil & Gas Market is forecasted to expand to USD 5.60 billion by 2030
Artificial Intelligence (AI) in Oil & Gas Market, Artificial Intelligence (AI) in Oil & Gas Market Growth,
A report published by Maximize Market Research on the Global Artificial Intelligence (AI) in Oil & Gas Market size was valued at USD 3.34 Billion in 2023 and the total Artificial Intelligence (AI) in Oil & Gas revenue is expected to grow at a CAGR of 7.65 % from 2024 to 2030, reaching nearly USD 5.60 Billion by 2030. The Artificial Intelligence (AI) in Oil & Gas report is a basket of market insights, which will help decision makers about challenges and growth opportunities of the future. The qualitative and quantitative analysis will help shareholders understand the dynamics Artificial Intelligence (AI) in the Oil & Gas industry has to offer.
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The purpose of this report is to offer market analysis in order to estimate growth potential the Artificial Intelligence (AI) in Oil & Gas industry has to offer based on type of product, function, application, and region. The report is a goldmine of in-depth professional examination of current market status, CAGR, margin, revenue, production, volume, value, market share, and growth opportunities that can be qualitatively utilized. The competitive analysis of key players in the market, with company profiles, insights about product and business offerings, and important market strategies are provided. The detailed profiling enables users to analyze company shares, emerging products, scope in the new markets, pricing strategy, and much more.
North America's widespread adoption of AI technologies is driven by a thriving energy sector and a strong emphasis on innovation, particularly in the United States and Canada. These regions, which have made significant investments in AI startups and research institutes, use AI to enhance drilling techniques, reservoir modeling, and operational optimization. In Europe, Norway and the UK are leading adopters of AI in offshore operations, focusing on efficiency improvements and environmental sustainability. The oil and gas industry in the Asia-Pacific region, especially in China and Australia, is rapidly integrating artificial intelligence (AI) to enhance exploration and production capacities in response to increasing energy demand.
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September 23, 2024, World pipelines wrote about AI in the oil and gas industry could reduce time by automation, improve accuracy by predictive analytics, and help real-time monitoring of assets.
September 3, 2024, USA, The guarding reported, 'The oil and gas supermajor BP is to use artificial intelligence to speed up the decision-making of its engineers, after signing a five-year deal with the US spy technology company Palantir.'
September 3, 2024, Economic times wrote AI will enhance efficiency and reduce emissions
March 4, 2024, Oil Price wrote, 'Artificial Intelligence Could Trigger a Natural Gas Boom in Europe'
In conclusion AI is revolutionizing the oil and gas industry by automating processes, enhancing decision-making, and improving operational efficiency. Its role in predictive analytics, real-time monitoring, and emission reduction positions AI as a key enabler of both short-term efficiency gains and long-term sustainability. Companies are increasingly relying on AI to stay competitive and adapt to a changing energy landscape.
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Artificial Intelligence (AI) in Oil & Gas Market Segmentation
by Type
Hardware
Software
Hybrid
by Function
Predictive maintenance and machinery inspection
Material movement
Production planning
Field services
Quality control
Reclamation
by Application
Upstream
Downstream
Midstream
Artificial Intelligence (AI) in Oil & Gas Market Key Players
North America:
Schlumberger, Houston, Texas, USA
Baker Hughes Company, Houston, Texas, USA
Halliburton, Houston, Texas, USA
IBM, Armonk, New York, USA
NVIDIA Corporation, Santa Clara, California, USA
Microsoft Corporation, Redmond, Washington, USA
Oracle Corporation, Redwood City, California, USA
General Electric (GE) , Boston, Massachusetts, USA
SAS Institute Inc., Cary, North Carolina, USA
C3.ai, Redwood City, California, USA
SparkCognition, Austin, Texas, USA
Aspen Technology, Bedford, Massachusetts, USA
TIBCO Software Inc., Palo Alto, California, USA
Honeywell International Inc., Charlotte, North Carolina, USA
Rockwell Automation, Inc., Milwaukee, Wisconsin, USA
Bentley Systems, Exton, Pennsylvania, USA
Europe
Siemens AG, Munich, Germany
ABB Ltd, Zurich, Switzerland
Wood PLC, Aberdeen, Scotland, UK
Capgemini, Paris, France
Asia-Pacific
Yokogawa Electric Corporation, Tokyo, Japan
Infosys Limited, Bangalore, India
Tech Mahindra, Pune, India
𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/artificial-intelligence-ai-in-oil-gas-market/11417/
Key questions answered in the Artificial Intelligence (AI) in Oil & Gas Market are:
How Big is the Al in Oil and Gas Market in 2024?
Which Segment Contributes More to the Al in Oil and Gas Market?
What is the United States Outlook on Al in Oil and Gas Market?
What is the Global Al in Oil and Gas Market Projected Value for 2034?
What is the Growth Potential of the Al in Oil and Gas Market?
Key Offerings:
Past Artificial Intelligence (AI) in Oil & Gas Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Artificial Intelligence (AI) in Oil & Gas Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Artificial Intelligence (AI) in Oil & Gas Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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About Maximize Market Research:
Maximize Market Research is a global market research and consulting company that provides businesses with insights to foster their growth and competitive advantage. The company specializes in delivering actionable and data-driven research reports tailored to help organizations make informed decisions. With a team of experienced analysts and consultants, Maximize Market Research offers expertise across multiple industries, including healthcare, technology, manufacturing, consumer goods, and more.
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