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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.
LPI (LP Information)' newest research report, the "AI in Oil & Gas Industry Forecast" looks at past sales and reviews total world AI in Oil & Gas sales in 2022, providing a comprehensive analysis by region and market sector of projected AI in Oil & Gas sales for 2023 through 2029. With AI in Oil & Gas sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world AI in Oil & Gas industry.
This Insight Report provides a comprehensive analysis of the global AI in Oil & Gas landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on AI in Oil & Gas portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global AI in Oil & Gas market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for AI in Oil & Gas and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global AI in Oil & Gas.
The global AI in Oil & Gas market size is projected to grow from US$ 2506.4 million in 2022 to US$ 5368 million in 2029; it is expected to grow at a CAGR of 11.5% from 2023 to 2029.
United States market for AI in Oil & Gas is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
China market for AI in Oil & Gas is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
Europe market for AI in Oil & Gas is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
Global key AI in Oil & Gas players cover IBM, Accenture, Google, Microsoft Corporation and Oracle, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.
This report presents a comprehensive overview, market shares, and growth opportunities of AI in Oil & Gas market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
- Hardware
- Software
- Services
Segmentation by application
- Predictive Maintenance
- Production Planning
- Field Service
- Material Movement
- Quality Control
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- IBM
- Accenture
- Microsoft Corporation
- Oracle