Global Artificial Intelligence (AI) in Oil & Gas Market size is estimated to grow at a CAGR of 7.40 % during the forecast period.
Artificial Intelligence (AI) in Oil & Gas Market Overview:
The Global Artificial Intelligence (AI) in Oil & Gas Market The oil and gas business, like other industries, acknowledges the power and impact that artificial intelligence (AI) can have on the industry's performance. According to the MMR report, the global Artificial Intelligence (AI) in the Oil & Gas Market will reach US$ 4.12 billion by 2026, with a CAGR of 7.40 percent from 2021 to 2027.
Oil and gas companies are combining artificial intelligence (AI) with their existing digital infrastructure to boost exploration productivity and efficiency. Predictive analytics and machine learning are assisting industry insiders in increasing operations, and the revolutionary technology has the potential to save up to $50 billion in upstream oil and gas activities alone.
Historical & Forecast Period:
Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.
Artificial Intelligence (AI) in Oil & Gas Market Overview and Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Artificial Intelligence (AI) in Oil & Gas Market segments which include products, applications, and competitor analysis.
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Segmentation:
During the projected period, the predictive maintenance and machinery inspection segment is expected to increase at the fastest rate of 8.87 percent. The largest and fastest-growing segment of the worldwide market is preventive maintenance. Predictive maintenance aids in the management of costly downtime by forecasting tool maintenance cycles in order to avoid equipment breakdowns and save millions of dollars.
Key Players:
• IBM
• Accenture
• Google
• Microsoft
• Oracle
• Intel
• Numenta
• Sentient Technologies
• Inbenta
• General Vision
• Cisco
• Fugenx Technologies
• Infosys
• Hortonworks
Regional Analysis:
Regional analysis is another highly comprehensive part of the research and analysis study of the Artificial Intelligence (AI) in Oil & Gas Market presented in the MMR report. Local development plans are often affected by the performance of Artificial Intelligence (AI) in Oil & Gas market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Artificial Intelligence (AI) in Oil & Gas market and these findings have been strategically presented in the report.
Competition Landscape:
Most of the key players present in the Artificial Intelligence (AI) in Oil & Gas Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.
Key questions answered in Artificial Intelligence (AI) in Oil & Gas Market report
- What was the market size of Artificial Intelligence (AI) in Oil & Gas Market in 2020 and forecast up to 2027?
- Which is the largest regional Artificial Intelligence (AI) in Oil & Gas Market?
- What are the major trends followed in Artificial Intelligence (AI) in Oil & Gas Market across different regions?
- Who is the key Artificial Intelligence (AI) in Oil & Gas Market companies leading the market?
- What are the key strategies adopted by the leading Artificial Intelligence (AI) in Oil & Gas Market companies in market?
- Unique data points of this report
- Statistics on Artificial Intelligence (AI) in Oil & Gas Market penetration and spending worldwide
- Recent trends across different regions in terms of adoption of Artificial Intelligence (AI) in Oil & Gas Market for various end-use.
- Notable developments going on in Artificial Intelligence (AI) in Oil & Gas Market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)
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