Thematic Intelligence: Augmented Reality in Oil and Gas

Thematic Intelligence: Augmented Reality in Oil and Gas

Summary

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. According to GlobalData forecasts, the AR market will be worth $100 billion by 2030, up from $22 billion in 2022. AR is improving health and safety in the oil and gas sector. Working conditions for technicians in remote and hazardous locations are a prominent challenge for the oil and gas industry. AR remains an emerging technology with limited adoption, but it could limit risk factors in machine maintenance. AR could also facilitate immersive health and safety training, providing realistic, engaging, and risk-free learning experiences for technicians before they go into the field. In emergencies, AR headsets combined with AI could assist workers by guiding those with injuries to emergency exits or facilitating the administration of first aid. They can also provide live data feeds from connected devices and use them to give advanced warnings of potentially hazardous situations.

This report provides an in-depth look in the augmented reality theme in oil and gas sector, covering industry challenges, how AR helps tackles these challenges, AR investment matrix, case studies, value chain, market forecast, industry signals and more.
Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. According to GlobalData forecasts, the AR market will be worth $100 billion by 2030, up from $22 billion in 2022.

AR is improving health and safety in the oil and gas sector. Working conditions for technicians in remote and hazardous locations are a prominent challenge for the oil and gas industry. AR remains an emerging technology with limited adoption, but it could limit risk factors in machine maintenance.

AR could also facilitate immersive health and safety training, providing realistic, engaging, and risk-free learning experiences for technicians before they go into the field.

In emergencies, AR headsets combined with AI could assist workers by guiding those with injuries to emergency exits or facilitating the administration of first aid.

They can also provide live data feeds from connected devices and use them to give advanced warnings of potentially hazardous situations.

Key Highlights

• Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. According to GlobalData forecasts, the AR market will be worth $100 billion by 2030, up from $22 billion in 2022. AR software will generate most of this revenue, with limited spending on AR headsets and AR smart glasses.
• AR is improving health and safety in the oil and gas sector. Working conditions for technicians in remote and hazardous locations are a prominent challenge for the oil and gas industry. AR remains an emerging technology with limited adoption, but it could limit risk factors in machine maintenance. AR could also facilitate immersive health and safety training, providing realistic, engaging, and risk-free learning experiences for technicians before they go into the field. In emergencies, AR headsets combined with AI could assist workers by guiding those with injuries to emergency exits or facilitating the administration of first aid. They can also provide live data feeds from connected devices and use them to give advanced warnings of potentially hazardous situations.

• This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.
• The report covers the augmented reality theme, and its current and future impact on the oil and gas sector.

• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
• Develop and design your corporate strategies through an in-house expert analysis of augmented reality by understanding the primary ways in which this theme is impacting the oil and gas industry.
• Stay up to date on the industry’s major players and where they sit in the value chain.
• Identify emerging industry trends to gain a competitive advantage.