AI in Oil and Gas: Global Markets and Technologies

Report Code: IFT305A

Publish Date: May 2024

Publisher: BCC Publishing

Category: Information Technology

Download Report Overview

Single User License: $4650

Member Price: FREE

EXPLORE OFFERS

Explore Our Services

Already a member? Login to access this report free.

Report Highlights

The global market for AI Technology in the Oil and Gas Sector is estimated to increase from $2.8 billion in 2023 to reach $5.1 billion by 2028, at a compound annual growth rate (CAGR) of 12.9% from 2023 through 2028.

Report Includes

  • 32 data tables and 32 additional tables
  • An overview of the global market for AI in the oil and gas sector
  • Analyses of the global market trends, with historical market revenue for 2022, estimates for 2023, forecasts for 2024 and projections of compound annual growth rates (CAGRs) through 2028
  • Estimate of the current market size and revenue forecast for the global market, and a corresponding analysis of market shares based on component, application and region
  • Facts and figures pertaining to the market dynamics, opportunities and challenges, upcoming technologies, future prospects and impacts of macroeconomic variables
  • Overview of the sustainability trends and ESG developments in the market, with an emphasis on consumer attitudes, ESG score analysis, a discussion of the future of ESG, and the ESG practices followed by leading companies
  • An analysis of the competitive landscape, including company market shares, recent M&A activity, and the outlook for venture funding
  • Company profiles of major players within the industry, including IBM Corp., General Electric, Accenture, Microsoft Corp., and Schneider Electric

Report Scope

The scope of this study encompasses the analysis of various components of AI technology in the global oil and gas sector, which include software, services, and hardware. It also examines different applications within the industry, such as upstream, midstream, downstream, and support functions. Additionally, the report discusses the technological, regulatory, and competitive aspects, as well as economic trends that impact the market. It further analyzes the market’s key drivers, regional dynamics, and current industry trends. The report concludes by providing detailed profiles of the major vendors in the market. The base year for the study is 2022, and projections for the years 2023 through 2028 are included, along with forecasts of the compound annual growth rate (CAGR) for the forecast period.

The report provides an overview of AI in the oil and gas sector, focusing on its key components and driving factors. It explores the software, services, and hardware aspects of the market, analyzing the solutions provided by different companies. The applications of AI in the industry are also discussed, including upstream, midstream, downstream, and support functions. The report also includes a regional analysis, examining the current and future factors influencing AI deployment in North America, Europe, Asia-Pacific, and the Rest of the World (including Latin America, the Middle East, and Africa).

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $2.5 billion
Market size forecast $5.1 billion
Growth rate CAGR of 12.9% for the forecast period of 2023-2028
Units considered $ Millions
Segments covered Component, Application
Regions covered North America, Europe, Asia-Pacific, Rest of the World (RoW)
Countries covered Latin America, Middle East and Africa
Key Market Drivers
  • Advanced Imaging and Surveys
  • Improved Market Competitiveness
  • Enhanced Operational Efficiency
  • Reduced Operating Costs
Companies studied
ABBACCENTURE
ASPEN TECHNOLOGY INC.CISCO SYSTEMS INC.
EYFUGENX TECHNOLOGIES
GENERAL ELECTRICHONEYWELL INTERNATIONAL INC.
IBM CORP.INTEL CORP.
MICROSOFT CORP.ORACLE
SCHNEIDER ELECTRICSPARKCOGNITION
Need a custom data table, graph, region, segment, companies or complete report? CUSTOMIZE NOW

Frequently Asked Questions (FAQs)

The market is projected to reach $5.1 billion by 2028, growing at a CAGR of 12.9%
The key factors driving the market include the enhanced operational efficiency, reduced operating costs, advanced imaging and surveys, improved market competitiveness, etc.
  • Component
  • Application
  • Geography
By component, software is expected to dominate the market by the end of 2028.
North America holds the highest share of the global market.

Analyst Credentials

Austin Samuel – Consultant-Technology Research
Austin Samuel is an experienced professional with nearly a decade of industry experience in research and analysis, specializing in Information Technology. He has conducted extensive research and provided comprehensive syndicate and custom reports on the developments and application of information technology across multiple industries for international and domestic clients. He exhibits exceptional analytical abilities and strategic thinking and has contributed significantly to the team. Academically, Austin holds a master’s degree in Marketing and IT and a bachelor’s degree in Electrical and Electronics.

Consulting Editor’s Credentials

Andrew McWilliams has over 40 years’ experience in marketing strategy and research with top consulting firms like Kearney and EY, and as an independent consultant. He has been a BCC Research contributor for over 20 years. Mr. McWilliams has a BA from Princeton University and an MA from Harvard University. He resides in the greater Boston area.

Let us assist you! Our analysts are ready to tailor this report to your specific need. Talk to Our Analyst

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: AI in Oil and Gas: Global Markets and Technologies120Free
Chapter- 1: Executive Summary4Free
Chapter- 2: Market Overview 11Free
Chapter- 3: Market Dynamics 4Free
Chapter- 4: Emerging Technologies and Developments 7Free
Chapter- 5: Market Segmentation Analysis37Free
Chapter- 6: Competitive Intelligence3Free
Chapter- 7: Environmental, Social, and Governance (ESG) Perspective 6Free
Chapter- 8: Appendix48Free

Related Reports

Global Artificial Intelligence (AI) Market: Investments vs Potential

Published - Aug 2024 | Publisher - Austin Samuel | Code - IFT189C

The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.

AI in Space Exploration: Global Market Outlook

Published - Nov 2023 | Publisher - Harsh Goyal | Code - IFT294A

This report explores the current and future strategies influencing the global market outlook of AI in space exploration. The report addresses the critical topics of changing market dynamics strategies for accessing emerging markets and geographies to allocate resources and make effective decisions. The report also covers market projections through 2028 and company profiles of key market players.

Global Enterprise Artificial Intelligence (AI) Market

Published - Sep 2023 | Publisher - BCC Publishing | Code - IFT286A

The global market for global enterprise AI market has a significant scope and offers a comprehensive description of the market, including its potential, growth drivers, challenges, and opportunities. The market has been segmented based on component, technology, application area, end user, and region. Geographically, the market has been divided into North America, Europe, Asia-Pacific (APAC), and the Rest of the World. The global and regional markets were corroborated for the present and forecasted values based on statistical analysis.

Global AI Consulting Services Market

Published - Aug 2023 | Publisher - BCC Publishing | Code - IFT283A

This report discusses the global AI consulting services market and analyzes market trends. It highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for AI consulting services in 2022 and provides projections for the expected market size through 2028. The report also outlines the key ESG (environmental, social and governance) issues along with ESG specific performance analyses for the AI industry.

Recent Reports

Global Private 5G Network Market

Published - Oct 2024 | Publisher - Austin Samuel | Code - IFT306A

The report provides an overview of the global private 5G network market size and a detailed analysis of the market players' products and strategies. Using 2023 as the base year, the report provides estimated market data for 2024 through 2029.

Global IoT Testing Services Market

Published - Oct 2024 | Publisher - BCC Publishing | Code - IFT307A

This report analyses the global market trends in IoT testing services with data from 2023, estimates for 2024, and projected CAGRs through 2029. It analyzes patent activity and emerging technologies in the IoT testing services market. The report also examines the competition among major players and provides profiles of leading companies.

Global Artificial Intelligence (AI) Market: Investments vs Potential

Published - Aug 2024 | Publisher - Austin Samuel | Code - IFT189C

The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.

Cybersecurity: Technologies and Global Markets

Published - Jul 2024 | Publisher - Masaratjahan Kudle | Code - IFT131D

The global market for cybersecurity technologies was valued at $208.1 billion in 2023. The market is expected to grow from $229.3 billion in 2024 to $396.8 billion by the end of 2029, at a compound annual growth rate, or CAGR, of 11.6% from 2024 to 2029.

3D Printing Medical Devices: Global Markets

Published - Jul 2024 | Publisher - BCC Publishing | Code - IFT173C

The global market for 3D printing medical devices reached $2.1 billion in 2023. The market is estimated to grow from $2.2 billion in 2024 to $4.5 billion by the end of 2029, at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2029.

Top Trending Reports

AI in Clinical and Molecular Diagnostics Market

Published - Oct 2024 | Publisher - BCC Publishing | Code - BIO261A

The global market for AI in clinical and molecular diagnostics is expected to grow from $2.6 billion in 2024 and is projected to reach $8.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 27.6% during the forecast period of 2024 to 2029.

Point-of-Care Diagnostics: Technologies and Global Markets

Published - Oct 2024 | Publisher - BCC Publishing | Code - HLC043H

The global market for point-of-care diagnostics was valued at $36.9 billion in 2023. It is expected to grow from $40.6 billion in 2024 to $65.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029.

Medical Devices: Technologies and Global Markets

Published - Oct 2024 | Publisher - BCC Publishing | Code - HLC170F

The global market for medical devices reached $739.6 billion in 2023. It is expected to grow from $810.4 billion in 2024 to $1.3 trillion by the end of 2029, at a compound annual growth rate (CAGR) of 9.8% from 2024 through 2029.

Global Artificial Intelligence (AI) Market: Investments vs Potential

Published - Aug 2024 | Publisher - BCC Publishing | Code - IFT189C

The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.

CRISPR Technology: Global Markets

Published - Oct 2024 | Publisher - BCC Publishing | Code - HLC258C

The global market for CRISPR technology was valued at $3.4 billion in 2023. This market is expected to grow from $3.8 billion in 2024 to $7.5 billion by the end of 2029, at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2029.

Become A Member

BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.

Find Out More

Custom Consulting

BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.

Customize Now

Scorecard

The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.

Find Out More

Innovation Spotlight

Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.

Find Out More
AI in Oil and Gas: Global Markets and Technologies
Sample Report