AI In Oil and Gas Market - Global Industry Analysis

Name: AI In Oil and Gas Market by Type (Hardware, Software, and Hybrid), by Function (Predictive Maintenance and Machinery Inspection, Material Movement, Production Planning, Field Services, Quality Control, and Reclamation), and by Application (Upstream, Downstream, and Midstream): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025
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SKU: ZMR-3114
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AI In Oil and Gas Market by Type (Hardware, Software, and Hybrid), by Function (Predictive Maintenance and Machinery Inspection, Material Movement, Production Planning, Field Services, Quality Control, and Reclamation), and by Application (Upstream, Downstream, and Midstream): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Published Date: 17-Jul-2019 Category: Energy & Mining Report Format : PDF Pages: 120 Report Code: ZMR-3114 Status : Published

Global AI in oil and gas market expected to reach around USD 4.01 billion by 2025, at a CAGR of 12.5% between 2019 and 2025. The global oil and gas sector is using AI to significantly digitize its operations; AI has optimized the process of operations by simplifying the optimization process in the sector.

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Description

The report covers a forecast and an analysis of the AI in oil and gas market on a global and regional level. The study provides historical information from 2016 and 2018 with a forecast from 2019 to 2025 based on revenue (USD Billion). The study covers the key drivers and restraints of the AI in oil and gas market. It also provides the impact of the market within the forecast period. Furthermore, the study also includes the opportunities accessible within the AI in oil and gas market on a global level.

In order to offer the users of this report, a comprehensive read of the AI in oil and gas market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the AI in oil and gas market has additionally been enclosed within the study. The study includes a market attractiveness analysis, wherein all the segments are benchmarked supported their market size, growth rate, and general attractiveness.

The study also includes the market share of the key participant’s operating in the AI in oil and gas market across the globe. Additionally, the report covers the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations and joint ventures, and regional growth of key players within the market on a regional basis.

The study provides a crucial view of the AI in oil and gas market by segmenting it based on product type, function, application, and region. All the segments have been analyzed based on present and the future trends and the market is estimated from 2019 to 2025. The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

Some key players in the global AI in oil and gas market are General Vision, Inbenta, FuGenX Technologies, Hortonworks, IBM, Google, Intel, Microsoft, Accenture, Sentient Technologies, Oracle, Numenta, Cisco, and Infosys.

This report segments the global AI in oil and gas market into:

Global AI in Oil and Gas Market: By Type Analysis

Hardware
Software
Hybrid

Global AI in Oil and Gas Market: By Function Analysis

Predictive Maintenance and Machinery Inspection
Material Movement
Production Planning
Field Services
Quality Control
Reclamation

Global AI in Oil and Gas Market: By Application Analysis

Upstream
Downstream
Midstream

Global AI in Oil and Gas Market: Regional Analysis

North America
- The U.S.
Europe
- UK
- France
- Germany
Asia Pacific
- China
- Japan
- India
Latin America
- Brazil
Middle East and Africa

Table Of Content

Chapter 1. Preface
- 1.1. Report Description
  - 1.1.1. Objective
  - 1.1.2. Target Audience
  - 1.1.3. Unique Selling Proposition (USP) & Offerings
- 1.2. Research Scope
- 1.3. Research Methodology
  - 1.3.1. Market research process
  - 1.3.2. Market research methodology
  - 1.3.3. Level 1: Primary Research
  - 1.3.4. Level 2: Secondary Research
  - 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report description and scope
Chapter 2. Executive Summary
- 2.1. Global AI in Oil and Gas Market, 2016-2025 (USD Billion)
- 2.2. AI in Oil and Gas Market Snapshot
Chapter 3. AI in Oil and Gas Market: Industry Analysis
- 3.1. AI in Oil and Gas : Market dynamics
- 3.2. Value Chain Analysis
- 3.3. Market Drivers
  - 3.3.1. Creating a safe work environment
  - 3.3.2. Increased Efficiency
- 3.4. Restraints
  - 3.4.1. Equipment failure and maintenance
  - 3.4.2. Lack of ability of AI systems to learn and understand quickly
- 3.5. Opportunity
  - 3.5.1. To boost exploration and production capabilities
  - 3.5.2. Process optimization
- 3.6. Market Attractiveness Analysis
  - 3.6.1. Market attractiveness analysis by type
  - 3.6.2. Market attractiveness analysis by function
  - 3.6.3. Market attractiveness analysis by application
  - 3.6.4. Market attractiveness analysis by region
Chapter 4. Global AI in Oil and Gas Market: Value Chain Analysis
- 4.1. AI in Oil and Gas Market: Value Chain Analysis
- 4.2. List of Potential Buyers
- 4.3. Marketing Channel
  - 4.3.1. Direct Marketing
  - 4.3.2. Indirect Marketing
  - 4.3.3. Marketing Channel Development Trend
Chapter 5. Global AI in Oil and Gas Market: Competitive Landscape
- 5.1. Company Market Share Analysis
  - 5.1.1. Global AI in Oil and Gas Market: Company Market Share, 2018
- 5.2. Strategic Development
  - 5.2.1. Acquisitions & Mergers
  - 5.2.2. New Product Launch
  - 5.2.3. Agreements, Partnerships, Collaborations, and Joint Ventures
  - 5.2.4. Research and Development and Regional Expansion
- 5.3. Type Portfolio
Chapter 6. Global AI in Oil and Gas Market: Type Overview
- 6.1. Global AI in Oil and Gas Market Share, by Type, 2018 and 2025
- 6.2. Hardware
  - 6.2.1. Overview
  - 6.2.2. Global AI in Oil and Gas Market by Hardware, 2016-2025 (USD Billion)
- 6.3. Software
  - 6.3.1. Overview
  - 6.3.2. Global AI in Oil and Gas Market by Software, 2016-2025 (USD Billion)
- 6.4. Hybrid
  - 6.4.1. Overview
  - 6.4.2. Global AI in Oil and Gas Market by Hybrid, 2016-2025 (USD Billion)
Chapter 7. Global AI in Oil and Gas Market: Function Overview
- 7.1. Global AI in Oil and Gas Market Share, by Function, 2018 and 2025
- 7.2. Predictive Maintenance And Machinery Inspection
  - 7.2.1. Overview
  - 7.2.2. Global AI in Oil and Gas Market For Predictive Maintenance And Machinery Inspection, 2016-2025 (USD Billion)
- 7.3. Material Movement
  - 7.3.1. Overview
  - 7.3.2. Global AI in Oil and Gas Market for Material Movement, 2016-2025 (USD Billion)
- 7.4. Production Planning
  - 7.4.1. Overview
  - 7.4.2. Global AI in Oil and Gas Market for Production planning, 2016-2025 (USD Billion)
- 7.5. Field Services
  - 7.5.1. Overview
  - 7.5.2. Global AI in Oil and Gas Market for Field services, 2016-2025 (USD Billion)
- 7.6. Quality Control
  - 7.6.1. Overview
  - 7.6.2. Global AI in Oil and Gas Market for Quality Control, 2016-2025 (USD Billion)
- 7.7. Reclamation
  - 7.7.1. Overview
  - 7.7.2. Global AI in Oil and Gas Market for Reclamation, 2016-2025 (USD Billion)
Chapter 8. Global AI in Oil and Gas Market: Application Overview
- 8.1. Global AI in Oil and Gas Market Share, by Application, 2018 and 2025
- 8.2. Upstream
  - 8.2.1. Overview
  - 8.2.2. Global AI in Oil and Gas Market for Upstream, 2016-2025 (USD Billion)
- 8.3. Downstream
  - 8.3.1. Overview
  - 8.3.2. Global AI in Oil and Gas Market for Downstream, 2016-2025 (USD Billion)
- 8.4. Midstream
  - 8.4.1. Overview
  - 8.4.2. Global AI in Oil and Gas Market for Midstream, 2016-2025 (USD Billion)
Chapter 9. Global AI in Oil and Gas Market: Regional Analysis
- 9.1. Global AI in Oil and Gas Market: Regional overview
  - 9.1.1. Global AI in Oil and Gas Market Share, by Region, 2018 and 2025
- 9.2. North America
  - 9.2.1. Overview
  - 9.2.2. North America AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
  - 9.2.3. North America AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
  - 9.2.4. North America AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.2.5. The U.S.
    - 9.2.5.1. The U.S. AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.2.5.2. The U.S. AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.2.5.3. The U.S. AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.2.6. Rest of North America
    - 9.2.6.1. Rest of North America AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.2.6.2. Rest of North America AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.2.6.3. Rest of North America AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
- 9.3. Europe
  - 9.3.1. Overview
  - 9.3.2. Europe AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
  - 9.3.3. Europe AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
  - 9.3.4. Europe AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.3.5. UK
    - 9.3.5.1. UK AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.3.5.2. UK AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.3.5.3. UK AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.3.6. France
    - 9.3.6.1. France AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.3.6.2. France AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.3.6.3. France AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.3.7. Germany
    - 9.3.7.1. Germany AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.3.7.2. Germany AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.3.7.3. Germany AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.3.8. Rest of Europe
    - 9.3.8.1. Rest of Europe AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.3.8.2. Rest of Europe AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.3.8.3. Rest of Europe AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
- 9.4. Asia Pacific
  - 9.4.1. Overview
  - 9.4.2. Asia Pacific AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
  - 9.4.3. Asia Pacific AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
  - 9.4.4. Asia Pacific AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.4.5. China
    - 9.4.5.1. China AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.4.5.2. China AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.4.5.3. China AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.4.6. Japan
    - 9.4.6.1. Japan AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.4.6.2. Japan AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.4.6.3. Japan AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.4.7. India
    - 9.4.7.1. India AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.4.7.2. India AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.4.7.3. India AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.4.8. Rest of Asia Pacific
    - 9.4.8.1. Rest of Asia Pacific AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.4.8.2. Rest of Asia Pacific AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.4.8.3. Rest of Asia Pacific AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
- 9.5. Latin America
  - 9.5.1. Latin America AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
  - 9.5.2. Latin America AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
  - 9.5.3. Latin America AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.5.4. Brazil
    - 9.5.4.1. Brazil AI in Oil and Gas Market Revenue, by Product Type, 2016-2025 (USD Billion)
    - 9.5.4.2. Brazil AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.5.4.3. Brazil AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
  - 9.5.5. Rest of Latin America
    - 9.5.5.1. Rest of Latin America AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
    - 9.5.5.2. Rest of Latin America AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
    - 9.5.5.3. Rest of Latin America AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
- 9.6. The Middle East and Africa
  - 9.6.1. The Middle East and Africa AI in Oil and Gas Market Revenue, by Type, 2016-2025 (USD Billion)
  - 9.6.2. The Middle East and Africa AI in Oil and Gas Market Revenue, by Function, 2016-2025 (USD Billion)
  - 9.6.3. The Middle East and Africa AI in Oil and Gas Market Revenue, by Application, 2016-2025 (USD Billion)
Chapter 10. Company Profiles
- 10.1. IBM
  - 10.1.1. Overview
  - 10.1.2. Financials
  - 10.1.3. Product Portfolio
  - 10.1.4. Business Strategy
  - 10.1.5. Recent Developments
- 10.2. Google
  - 10.2.1. Overview
  - 10.2.2. Financials
  - 10.2.3. Product Portfolio
  - 10.2.4. Business Strategy
  - 10.2.5. Recent Developments
- 10.3. Intel
  - 10.3.1. Overview
  - 10.3.2. Financials
  - 10.3.3. Product Portfolio
  - 10.3.4. Business Strategy
  - 10.3.5. Recent Developments
- 10.4. Microsoft
  - 10.4.1. Overview
  - 10.4.2. Financials
  - 10.4.3. Product Portfolio
  - 10.4.4. Business Strategy
  - 10.4.5. Recent Developments
- 10.5. Accenture
  - 10.5.1. Overview
  - 10.5.2. Financials
  - 10.5.3. Product Portfolio
  - 10.5.4. Business Strategy
  - 10.5.5. Recent Developments
- 10.6. Sentinent Technologies
  - 10.6.1. Overview
  - 10.6.2. Financials
  - 10.6.3. Product Portfolio
  - 10.6.4. Business Strategy
  - 10.6.5. Recent Developments
- 10.7. Oracle
  - 10.7.1. Overview
  - 10.7.2. Financials
  - 10.7.3. Product Portfolio
  - 10.7.4. Business Strategy
  - 10.7.5. Recent Developments
- 10.8. Numenta
  - 10.8.1. Overview
  - 10.8.2. Financials
  - 10.8.3. Product Portfolio
  - 10.8.4. Business Strategy
  - 10.8.5. Recent Developments
- 10.9. Cisco
  - 10.9.1. Overview
  - 10.9.2. Financials
  - 10.9.3. Product Portfolio
  - 10.9.4. Business Strategy
  - 10.9.5. Recent Developments
- 10.10. Infosys
  - 10.10.1. Overview
  - 10.10.2. Financials
  - 10.10.3. Product Portfolio
  - 10.10.4. Business Strategy
  - 10.10.5. Recent Developments

Table Of Figures

List of Figures

1. Global AI in Oil and Gas Market Segmentation by Type, Function, Application, and Region
2. Global AI in Oil and Gas Market, 2016–2025 (USD Billion)
3. Value Chain Analysis
4. Market Attractiveness Analysis by Type
5. Market Attractiveness Analysis by Function
6. Market Attractiveness Analysis by Application
7. Market Attractiveness Analysis by Region
8. Global AI in Oil and Gas Market: Company Market Share, 2018
9. Global AI in Oil and Gas Market Share, by Type, 2018 and 2025
10. Global AI in Oil and Gas Market Share, by Hardware, 2016–2025 (USD Billion)
11. Global AI in Oil and Gas Market Share, by Software, 2016–2025 (USD Billion)
12. Global AI in Oil and Gas Market Share, by Hybrid, 2016–2025 (USD Billion)
13. Global AI in Oil and Gas Market Share, by Function, 2018 and 2025
14. Global AI in Oil and Gas Market, by Predictive Maintenance And Machinery Inspection, 2016–2025 (USD Billion)
15. Global AI in Oil and Gas Market, by Material Movement, 2016–2025 (USD Billion)
16. Global AI in Oil and Gas Market, by Production Planning, 2016–2025 (USD Billion)
17. Global AI in Oil and Gas Market, by Field Services, 2016–2025 (USD Billion)
18. Global AI in Oil and Gas Market, by Quality Control, 2016–2025 (USD Billion)
19. Global AI in Oil and Gas Market for Reclamation, 2016–2025 (USD Billion)
20. Global AI in Oil and Gas Market Share, by Application, 2018 and 2025
21. Global AI in Oil and Gas Market, by Upstream, 2016–2025 (USD Billion)
22. Global AI in Oil and Gas Market, by Midstream, 2016–2025 (USD Billion)
23. Global AI in Oil and Gas Market, by Downstream, 2016–2025 (USD Billion)
24. Global AI in Oil and Gas Market Share, by Region, 2018 and 2025
25. North America AI in Oil and Gas Market, 2016–2025 (USD Billion)
26. Europe AI in Oil and Gas Market, 2016–2025 (USD Billion)
27. Asia Pacific AI in Oil and Gas Market, 2016–2025 (USD Billion)
28. Latin America AI in Oil and Gas Market, 2016–2025 (USD Billion)
29. The Middle East and Africa AI in Oil and Gas Market, 2016–2025 (USD Billion)

Table Of Tables

List of Tables

1. Global AI in Oil and Gas Market Snapshot
2. Drivers of the AI in Oil and Gas Market: Impact Analysis
3. Restraints of the AI in Oil and Gas Market: Impact Analysis
4. North America AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
5. North America AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
6. North America AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
7. The U.S. AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
8. The U.S. AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
9. The U.S. AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
10. Rest of North America AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
11. Rest of North America AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
12. Rest of North America AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
13. Europe AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
14. Europe AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
15. Europe AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
16. UK AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
17. UK AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
18. UK AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
19. France AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
20. France AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
21. France AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
22. Germany AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
23. Germany AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
24. Germany AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
25. Rest of Europe AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
26. Rest of Europe AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
27. Rest of Europe AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
28. Asia Pacific AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
29. Asia Pacific AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
30. Asia Pacific AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
31. China AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
32. China AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
33. China AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
34. Japan AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
35. Japan AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
36. Japan AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
37. India AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
38. India AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
39. India AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
40. Rest of Asia Pacific AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
41. Rest of Asia Pacific AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
42. Rest of Asia Pacific AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
43. Latin America AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
44. Latin America AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
45. Latin America AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
46. Brazil AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
47. Brazil AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
48. Brazil AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
49. Rest of Latin America AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
50. Rest of Latin America AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
51. Rest of Latin America AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)
52. The Middle East and Africa AI in Oil and Gas Market Revenue, by Type, 2016–2025 (USD Billion)
53. The Middle East and Africa AI in Oil and Gas Market Revenue, by Function, 2016–2025 (USD Billion)
54. The Middle East and Africa AI in Oil and Gas Market Revenue, by Application, 2016–2025 (USD Billion)

Methodology

Free Analysis

Operations in the oil and gas industry are performed at high risk. The oil and gas industry is dependent on laborers, owing to create a safe environment for a highly labor-sensitive industry. This is an important requirement for the oil and gas industry, which has increased the demand for AI-integrated robots in the industry. Robots integrated with AI can perform tasks that are dangerous for humans. AI has been used in industries to perform production, maintenance, and inspection operations digitally. AI can anticipate system failures even before the actual failures occur.

The global AI in oil and gas market is projected to witness notable growth in the upcoming few years, owing to the rising demand for automated systems to perform operations like underground excavation and drilling in the oil and gas industry. Moreover, to detect upcoming mishaps and perform dangerous operations by AI systems will create a safer environment for the laborers, which will further drive the AI in oil and gas market. As oil and gas prices have been increasing in over the last few years, the oil and gas companies need to optimize their operations to curb this problem. AI systems implemented in the oil and gas industry will reduce the operating time and lead to various developments in the oil and gas industry. However, the lack of quick ability to learn and understand may restrict the applications integrated with AI in the oil and gas industry. Additionally, equipment failures and maintenance of AI-integrated systems will restrict numerous opportunities in the global AI in oil and gas market.

The global AI in oil and gas market is classified on the basis of type, function, and application. By type segment of AI in oil and gas market is classified into hybrid, hardware, and software. By function, the AI in oil and gas market is classified into predictive maintenance and machinery inspection, field services, material movement, quality control, reclamation, and production planning. By application, the market is classified into upstream, midstream, and downstream.

The North American AI in oil and gas market is the largest globally, as the oil and gas industry officials are looking for other options to reduce the industry’s dependency on aging and depleting workforce. The Asia Pacific region is the fastest growing market globally, due to the increasing investments in the region’s AI in oil and gas market. The decreasing demand for oil and gas in Europe will result in the slow growth of the AI in oil and gas market in the region.