AI in Oil & Gas Market - Global AI in Oil & Gas Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Application Coverage, By Sector Coverage, By Component Coverage, By Geographical Coverage, Leading Companies)

Description

Global AI in Oil & Gas Market to Reach $2.9 Billion by 2030 with a Remarkable CAGR of 16.9%.

The oil & gas industry is rapidly embracing Artificial Intelligence (AI) to optimize operations and reduce downtime. AI's role in predictive maintenance, quality control, process optimization, and more is crucial for achieving business goals. The global AI in oil & gas market is expected to reach $2.9 billion by 2030, with a staggering compound annual growth rate (CAGR) of 16.9% between 2023 and 2030.

Key Report Findings

1. Impressive Growth: The global AI in oil & gas market is set to reach $2.9 billion by the end of 2030.

2. Predictive Maintenance Dominance: Predictive maintenance accounted for nearly 30.2% of the market share in 2022, highlighting its significance.

3. Upstream Sector Leading: The upstream oil & gas sector recorded over 51.8% of the market value share in 2022.

4. Global Presence: North America holds a substantial market share of over 38%, but the Asia Pacific market is expected to register the highest CAGR of 17.4%.

5. Key Players: Leading players in the AI in oil & gas market include Google, IBM, Intel Corporation, Microsoft, and Oracle Corporation.

Market Drivers

1. Value Chain Optimization: AI enables oil & gas companies to optimize their value chains, reduce operating costs, and increase automation.

2. ROI and Revenue: AI investments result in improved Return on Investment (ROI), reduced expenses, and increased revenue, making it a one-time investment with long-term benefits.

3. Upstream Sector Utilization: AI technologies are extensively used in the upstream sector for well placements, drilling efficiency, and oilfield performance enhancement.

Challenges

1. Data Integration: Data quality and seamless integration remain challenges in AI adoption in the oil & gas industry.

2. Investment Costs: The initial investment cost can be a barrier, although it leads to significant ROI in the long run.

Growth Opportunities Across Regions

1. North America Leading: North America is expected to maintain its leadership position due to technological innovation and adoption by major players like Shell, Exxon Mobil, BP, Chevron, Total, and Saudi Aramco.

2. Asia Pacific Rising: The Asia Pacific region, with a focus on AI technology, is set to exhibit strong growth, led by China's initiatives in AI application in oil & gas.

3. Middle East and Africa Potential: The Middle East and Africa have a promising future in AI adoption in the oil & gas industry, with governments unveiling comprehensive plans for AI advancement.

Key Players

Some of the key players in the global AI in oil & gas market include: Google, IBM, SAS, Accenture Plc, Baidu, Inc., H2O.ai, Microsoft Corporation, Oracle Corporation, Siemens, Intel Corporation, and GE.

1. Executive Summary

1.1. Global AI Market in Oil & Gas Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact
- 2.5.1. Supply Chain
- 2.5.2. End-user Industry Customer Impact Analysis

3. Price Trends Analysis, 2019 - 2030

4. Global AI Market in Oil & Gas Outlook, 2019 - 2030

4.1. Global AI Market in Oil & Gas Outlook, by Application, Value (US$ Mn), 2019 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. Predictive Maintenance
  - 4.1.1.2. Quality Control
  - 4.1.1.3. Process Optimization
  - 4.1.1.4. Supply Chain Optimization
  - 4.1.1.5. Physical & Cyber Security
  - 4.1.1.6. Resource Optimization
  - 4.1.1.7. Data Management
  - 4.1.1.8. Smart Assistant
  - 4.1.1.9. R&D
  - 4.1.1.10. Others
- 4.1.2. BPS Analysis/Market Attractiveness Analysis, by Application
4.2. Global AI Market in Oil & Gas Outlook, by Sector, Value (US$ Mn), 2019 - 2030
- 4.2.1. Key Highlights
  - 4.2.1.1. Upstream
  - 4.2.1.2. Midstream
  - 4.2.1.3. Downstream
- 4.2.2. BPS Analysis/Market Attractiveness Analysis, by Sector
4.3. Global AI Market in Oil & Gas Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 4.3.1. Key Highlights
  - 4.3.1.1. Hardware
  - 4.3.1.2. Software
    - 4.3.1.2.1. Deep Learning
    - 4.3.1.2.2. Machine Learning
    - 4.3.1.2.2. Others (computer vision, natural language processing, etc.)
  - 4.3.1.3. Services
- 4.3.2. BPS Analysis/Market Attractiveness Analysis, by Component
4.4. Global AI Market in Oil & Gas Outlook, by Region, Value (US$ Mn), 2019 - 2030
- 4.4.1. Key Highlights
  - 4.4.1.1. North America
  - 4.4.1.2. Europe
  - 4.4.1.3. Asia Pacific
  - 4.4.1.4. Middle East & Africa
  - 4.4.1.5. Latin America
- 4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

5. North America AI Market in Oil & Gas Outlook, 2019 - 2030

5.1. North America AI Market in Oil & Gas Outlook, by Application, Value (US$ Mn), 2019 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Predictive Maintenance
  - 5.1.1.2. Quality Control
  - 5.1.1.3. Process Optimization
  - 5.1.1.4. Supply Chain Optimization
  - 5.1.1.5. Physical & Cyber Security
  - 5.1.1.6. Resource Optimization
  - 5.1.1.7. Data Management
  - 5.1.1.8. Smart Assistant
  - 5.1.1.9. R&D
  - 5.1.1.10. Others
5.2. North America AI Market in Oil & Gas Outlook, by Sector, Value (US$ Mn), 2019 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Upstream
  - 5.2.1.2. Midstream
  - 5.2.1.3. Downstream
5.3. North America AI Market in Oil & Gas Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Hardware
  - 5.3.1.2. Software
    - 5.3.1.2.1. Deep Learning
    - 5.3.1.2.2. Machine Learning
    - 5.3.1.2.2. Others (computer vision, natural language processing, etc.)
  - 5.3.1.3. Services
5.4. North America AI Market in Oil & Gas Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. U.S. AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 5.4.1.2. Canada AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030

6. Europe AI Market in Oil & Gas Outlook, 2019 - 2030

6.1. Europe AI Market in Oil & Gas Outlook, by Application, Value (US$ Mn), 2019 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Predictive Maintenance
  - 6.1.1.2. Quality Control
  - 6.1.1.3. Process Optimization
  - 6.1.1.4. Supply Chain Optimization
  - 6.1.1.5. Physical & Cyber Security
  - 6.1.1.6. Resource Optimization
  - 6.1.1.7. Data Management
  - 6.1.1.8. Smart Assistant
  - 6.1.1.9. R&D
  - 6.1.1.10. Others
6.2. Europe AI Market in Oil & Gas Outlook, by Sector, Value (US$ Mn), 2019 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Upstream
  - 6.2.1.2. Midstream
  - 6.2.1.3. Downstream
6.3. Europe AI Market in Oil & Gas Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Hardware
  - 6.3.1.2. Software
    - 6.3.1.2.1. Deep Learning
    - 6.3.1.2.2. Machine Learning
    - 6.3.1.2.2. Others (computer vision, natural language processing, etc.)
  - 6.3.1.3. Services
6.4. Europe AI Market in Oil & Gas Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. Germany AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 6.4.1.2. Netherland AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 6.4.1.3. U.K. AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 6.4.1.4. Italy AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 6.4.1.5. Russia & CIS AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 6.4.1.6. Rest of Europe AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030

7. Asia Pacific AI Market in Oil & Gas Outlook, 2019 - 2030

7.1. Asia Pacific AI Market in Oil & Gas Outlook, by Application, Value (US$ Mn), 2019 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Predictive Maintenance
  - 7.1.1.2. Quality Control
  - 7.1.1.3. Process Optimization
  - 7.1.1.4. Supply Chain Optimization
  - 7.1.1.5. Physical & Cyber Security
  - 7.1.1.6. Resource Optimization
  - 7.1.1.7. Data Management
  - 7.1.1.8. Smart Assistant
  - 7.1.1.9. R&D
  - 7.1.1.10. Others
7.2. Asia Pacific AI Market in Oil & Gas Outlook, by Sector, Value (US$ Mn), 2019 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Upstream
  - 7.2.1.2. Midstream
  - 7.2.1.3. Downstream
7.3. Asia Pacific AI Market in Oil & Gas Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Hardware
  - 7.3.1.2. Software
    - 7.3.1.2.1. Deep Learning
    - 7.3.1.2.2. Machine Learning
    - 7.3.1.2.2. Others (computer vision, natural language processing, etc.)
  - 7.3.1.3. Services
7.4. Asia Pacific AI Market in Oil & Gas Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. China AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 7.4.1.2. India AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 7.4.1.3. Japan AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 7.4.1.4. ASEAN AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 7.4.1.5. Rest of Asia Pacific AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030

8. Middle East & Africa AI Market in Oil & Gas Outlook, 2019 - 2030

8.1. Middle East & Africa AI Market in Oil & Gas Outlook, by Application, Value (US$ Mn), 2019 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Predictive Maintenance
  - 8.1.1.2. Quality Control
  - 8.1.1.3. Process Optimization
  - 8.1.1.4. Supply Chain Optimization
  - 8.1.1.5. Physical & Cyber Security
  - 8.1.1.6. Resource Optimization
  - 8.1.1.7. Data Management
  - 8.1.1.8. Smart Assistant
  - 8.1.1.9. R&D
  - 8.1.1.10. Others
8.2. Middle East & Africa AI Market in Oil & Gas Outlook, by Sector, Value (US$ Mn), 2019 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Upstream
  - 8.2.1.2. Midstream
  - 8.2.1.3. Downstream
8.3. Middle East & Africa AI Market in Oil & Gas Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Hardware
  - 8.3.1.2. Software
    - 8.3.1.2.1. Deep Learning
    - 8.3.1.2.2. Machine Learning
    - 8.3.1.2.2. Others (computer vision, natural language processing, etc.)
  - 8.3.1.3. Services
8.4. Middle East & Africa AI Market in Oil & Gas Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. Saudi Arabia AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 8.4.1.2. Iran AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 8.4.1.3. UAE AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 8.4.1.4. South Africa AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 8.4.1.5. Rest of Middle East & Africa AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030

9. Latin America AI Market in Oil & Gas Outlook, 2019 - 2030

9.1. Latin America AI Market in Oil & Gas Outlook, by Application, Value (US$ Mn), 2019 - 2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Predictive Maintenance
  - 9.1.1.2. Quality Control
  - 9.1.1.3. Process Optimization
  - 9.1.1.4. Supply Chain Optimization
  - 9.1.1.5. Physical & Cyber Security
  - 9.1.1.6. Resource Optimization
  - 9.1.1.7. Data Management
  - 9.1.1.8. Smart Assistant
  - 9.1.1.9. R&D
  - 9.1.1.10. Others
9.2. Latin America AI Market in Oil & Gas Outlook, by Sector, Value (US$ Mn), 2019 - 2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Upstream
  - 9.2.1.2. Midstream
  - 9.2.1.3. Downstream
9.3. Middle East & Africa AI Market in Oil & Gas Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Hardware
  - 9.3.1.2. Software
    - 9.3.1.2.1. Deep Learning
    - 9.3.1.2.2. Machine Learning
    - 9.3.1.2.2. Others (computer vision, natural language processing, etc.)
  - 9.3.1.3. Services
9.4. Latin America AI Market in Oil & Gas Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 9.4.1. Key Highlights
  - 9.4.1.1. Brazil AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, 2019 - 2030
  - 9.4.1.2. Mexico AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, End-user Industry, 2019 - 2030
  - 9.4.1.3. Venezuela AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, End-user Industry, 2019 - 2030
  - 9.4.1.4. Rest of Latin America AI Market in Oil & Gas, Value (US$ Mn), by Application, Source, End-user Industry, 2019 - 2030

10. Competitive Landscape

10.1. Company Market Share Analysis, 2022
10.2. Strategic Collaborations
10.3. Company Profiles
- 10.3.1. Google
  - 10.3.1.1. Company Overview
  - 10.3.1.2. Product Portfolio
  - 10.3.1.3. Financial Overview
  - 10.3.1.4. Business Strategies and Development
- 10.3.2. IBM
  - 10.3.2.1. Company Overview
  - 10.3.2.2. Product Portfolio
  - 10.3.2.3. Financial Overview
  - 10.3.2.4. Business Strategies and Development
- 10.3.3. SAS
  - 10.3.3.1. Company Overview
  - 10.3.3.2. Product Portfolio
  - 10.3.3.3. Financial Overview
  - 10.3.3.4. Business Strategies and Development
- 10.3.4. Accenture
  - 10.3.4.1. Company Overview
  - 10.3.4.2. Product Portfolio
  - 10.3.4.3. Financial Overview
  - 10.3.4.4. Business Strategies and Development
- 10.3.5. Baidu, Inc.
  - 10.3.5.1. Company Overview
  - 10.3.5.2. Product Portfolio
  - 10.3.5.3. Financial Overview
  - 10.3.5.4. Business Strategies and Development
- 10.3.6. H2O.ai.
  - 10.3.6.1. Company Overview
  - 10.3.6.2. Product Portfolio
  - 10.3.6.3. Financial Overview
  - 10.3.6.4. Business Strategies and Development
- 10.3.7. Microsoft Corporation
  - 10.3.7.1. Company Overview
  - 10.3.7.2. Product Portfolio
  - 10.3.7.3. Financial Overview
  - 10.3.7.4. Business Strategies and Development
- 10.3.8. Oracle
  - 10.3.8.1. Company Overview
  - 10.3.8.2. Product Portfolio
  - 10.3.8.3. Financial Overview
  - 10.3.8.4. Business Strategies and Development
- 10.3.9. Siemens AG
  - 10.3.9.1. Company Overview
  - 10.3.9.2. Product Portfolio
  - 10.3.9.3. Financial Overview
  - 10.3.9.4. Business Strategies and Development
- 10.3.10. Intel Corporation
  - 10.3.10.1. Company Overview
  - 10.3.10.2. Product Portfolio
  - 10.3.10.3. Financial Overview
  - 10.3.10.4. Business Strategies and Development
- 10.3.11. GE & Others
  - 10.3.11.1. Company Overview
  - 10.3.11.2. Product Portfolio
  - 10.3.11.3. Financial Overview
  - 10.3.11.4. Business Strategies and Development

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations