Global AI in Oil and Gas Market Size Study, by Component (Solution, Services), by Operation (Upstream, Midstream, Downstream), and Regional Forecasts 2022-2032

Global AI in Oil and Gas Market Size Study, by Component (Solution, Services), by Operation (Upstream, Midstream, Downstream), and Regional Forecasts 2022-2032


Global AI in Oil and Gas Market is estimated to be valued at approximately USD 3.5 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2032, ultimately reaching a valuation of USD 13 billion by the end of 2032. AI is also being utilized in exploration and production within the oil and gas sector. It can analyze seismic data to identify potential oil and gas reserves more accurately and quickly than traditional methods. This capability allows companies to make better decisions regarding drilling and resource extraction. Furthermore, AI assists in predictive maintenance by analyzing sensor data to predict equipment failures, thereby reducing downtime, maintenance costs, and improving safety.

The increasing adoption of artificial intelligence (AI) in the oil and gas industry is primarily driven by the need to enhance operational efficiency. AI-powered systems analyze data from sensors and other sources to identify inefficiencies, enabling companies to take corrective actions. Additionally, AI plays a crucial role in identifying potential safety hazards, allowing for proactive measures to prevent accidents and injuries. By optimizing operations and identifying inefficiencies, AI helps companies reduce operating costs and improve profitability in a highly competitive market. Also, the increasing adoption of artificial intelligence (AI) in the oil and gas industry is primarily driven by the need to enhance operational efficiency. AI-powered systems analyze data from sensors and other sources to identify inefficiencies, enabling companies to take corrective actions. Additionally, AI plays a crucial role in identifying potential safety hazards, allowing for proactive measures to prevent accidents and injuries. By optimizing operations and identifying inefficiencies, AI helps companies reduce operating costs and improve profitability in a highly competitive market. Despite these benefits, challenges such as data quality and availability persist. High-quality data is essential for AI algorithms to function effectively. The oil and gas industry has historically faced issues with data silos, incomplete datasets, and a lack of standardization, making it difficult for AI models to work across the entire value chain.

Key regions considered for the Global AI in Oil and Gas market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is a leading market for AI in the oil and gas sector, driven by its strong economy, widespread adoption of AI technologies, significant presence of top AI software and system suppliers, and joint investments by government and private entities in research and development. The region's expanding oil and gas production capacities and rising investments are expected to further enhance market opportunities.

Major market players included in this report are:

IBM

Schlumberger

Halliburton

Baker Hughes

Microsoft

C3.ai

Siemens

Honeywell

Oracle

Accenture

Google Cloud

Rockwell Automation

Infosys

TIBCO Software

ABB

The detailed segments and sub-segment of the market are explained below:

By Component:
• Solution
• Services

By Operation:
• Upstream
• Midstream
• Downstream

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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Chapter 1. Global AI in the Oil and Gas Market Executive Summary
1.1. Global AI in the Oil and Gas Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Component
1.3.2. By Operation
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global AI in the Oil and Gas Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global AI in the Oil and Gas Market Dynamics
3.1. Market Drivers
3.1.1. Increasing Demand for Operational Efficiency
3.1.2. Safety Enhancement and Hazard Prevention
3.1.3. Cost Reduction Initiatives
3.2. Market Challenges
3.2.1. Data Quality and Availability Issues
3.2.2. Complexity Across the Value Chain
3.3. Market Opportunities
3.3.1. AI in Exploration and Production
3.3.2. Predictive Maintenance and Downtime Reduction
3.3.3. Advanced AI Applications in Safety
Chapter 4. Global AI in the Oil and Gas Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global AI in the Oil and Gas Market Size & Forecasts by Component 2022-2032
5.1. Segment Dashboard
5.2. Global AI in the Oil and Gas Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. Solution
5.2.2. Services
Chapter 6. Global AI in the Oil and Gas Market Size & Forecasts by Operation 2022-2032
6.1. Segment Dashboard
6.2. Global AI in the Oil and Gas Market: Operation Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. Upstream
6.2.2. Midstream
6.2.3. Downstream
Chapter 7. Global AI in the Oil and Gas Market Size & Forecasts by Region 2022-2032
7.1. North America AI in the Oil and Gas Market
7.1.1. U.S. AI in the Oil and Gas Market
7.1.1.1. Component breakdown size & forecasts, 2022-2032
7.1.1.2. Operation breakdown size & forecasts, 2022-2032
7.1.2. Canada AI in the Oil and Gas Market
7.2. Europe AI in the Oil and Gas Market
7.2.1. U.K. AI in the Oil and Gas Market
7.2.2. Germany AI in the Oil and Gas Market
7.2.3. France AI in the Oil and Gas Market
7.2.4. Spain AI in the Oil and Gas Market
7.2.5. Italy AI in the Oil and Gas Market
7.2.6. Rest of Europe AI in the Oil and Gas Market
7.3. Asia-Pacific AI in the Oil and Gas Market
7.3.1. China AI in the Oil and Gas Market
7.3.2. India AI in the Oil and Gas Market
7.3.3. Japan AI in the Oil and Gas Market
7.3.4. Australia AI in the Oil and Gas Market
7.3.5. South Korea AI in the Oil and Gas Market
7.3.6. Rest of Asia Pacific AI in the Oil and Gas Market
7.4. Latin America AI in the Oil and Gas Market
7.4.1. Brazil AI in the Oil and Gas Market
7.4.2. Mexico AI in the Oil and Gas Market
7.4.3. Rest of Latin America AI in the Oil and Gas Market
7.5. Middle East & Africa AI in the Oil and Gas Market
7.5.1. Saudi Arabia AI in the Oil and Gas Market
7.5.2. South Africa AI in the Oil and Gas Market
7.5.3. Rest of Middle East & Africa AI in the Oil and Gas Market
Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Baker Hughes
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Market Strategies
8.3.2. Microsoft
8.3.3. C3.ai
8.3.4. Siemens
8.3.5. Honeywell
8.3.6. Oracle
8.3.7. Accenture
8.3.8. Google Cloud
8.3.9. Rockwell Automation
8.3.10. Infosys
8.3.11. TIBCO Software
8.3.12. ABB
8.3.13. IBM
8.3.14. Schlumberger
8.3.15. Halliburton
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research AttributesList of Tables
TABLE 1. Global AI in the Oil and Gas market, report scope
TABLE 2. Global AI in the Oil and Gas market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global AI in the Oil and Gas market estimates & forecasts by Component 2022-2032 (USD Billion)
TABLE 4. Global AI in the Oil and Gas market estimates & forecasts by Operation 2022-2032 (USD Billion)
TABLE 5. Global AI in the Oil and Gas market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. Global AI in the Oil and Gas market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. Global AI in the Oil and Gas market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Global AI in the Oil and Gas market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global AI in the Oil and Gas market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global AI in the Oil and Gas market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global AI in the Oil and Gas market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global AI in the Oil and Gas market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global AI in the Oil and Gas market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global AI in the Oil and Gas market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. AI in the Oil and Gas market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. AI in the Oil and Gas market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. AI in the Oil and Gas market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada AI in the Oil and Gas market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada AI in the Oil and Gas market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada AI in the Oil and Gas market estimates & forecasts by segment 2022-2032 (USD Billion)
This list is not complete, final report does contain more than 100 tables. The list may be updated in the final deliverable.List of Figures
FIGURE 1. Global AI in the Oil and Gas market, research methodology
FIGURE 2. Global AI in the Oil and Gas market, market estimation techniques
FIGURE 3. Global market size estimates & forecast methods.
FIGURE 4. Global AI in the Oil and Gas market, key trends 2023
FIGURE 5. Global AI in the Oil and Gas market, growth prospects 2022-2032
FIGURE 6. Global AI in the Oil and Gas market, porters 5 force model
FIGURE 7. Global AI in the Oil and Gas market, PESTEL analysis
FIGURE 8. Global AI in the Oil and Gas market, value chain analysis
FIGURE 9. Global AI in the Oil and Gas market by segment, 2022 & 2032 (USD Billion)
FIGURE 10. Global AI in the Oil and Gas market by segment, 2022 & 2032 (USD Billion)
FIGURE 11. Global AI in the Oil and Gas market by segment, 2022 & 2032 (USD Billion)
FIGURE 12. Global AI in the Oil and Gas market by segment, 2022 & 2032 (USD Billion)
FIGURE 13. Global AI in the Oil and Gas market by segment, 2022 & 2032 (USD Billion)
FIGURE 14. Global AI in the Oil and Gas market, regional snapshot 2022 & 2032
FIGURE 15. North America AI in the Oil and Gas market 2022 & 2032 (USD Billion)
FIGURE 16. Europe AI in the Oil and Gas market 2022 & 2032 (USD Billion)
FIGURE 17. Asia pacific AI in the Oil and Gas market 2022 & 2032 (USD Billion)
FIGURE 18. Latin America AI in the Oil and Gas market 2022 & 2032 (USD Billion)
FIGURE 19. Middle East & Africa AI in the Oil and Gas market 2022 & 2032 (USD Billion)
FIGURE 20. Global AI in the Oil and Gas market, company market share analysis (2023)
This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable.

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