AI (Artificial Intelligence) in Oil & Gas Market |Hits by 12.66 % CAGR from 2017 to 2022 Globally
The AI in Oil & Gas market report provides a depiction of global market and its segments across industries and regions. It aims at estimating the market size and future market growth potential across different segments, by type, function, application, a
(EMAILWIRE.COM, September 11, 2018 ) AI (Artificial Intelligence) in Oil & Gas market is projected to reach USD 2.85 billion by 2022, growing at a CAGR of 12.66%, from 2017 to 2022.
The growth of AI in Oil & Gas market can be attributed to the big data technology in the Oil & Gas industry to augment E&P capabilities, a significant increase in venture capital investments, growing need for automation in the Oil & Gas industry, and tremendous pressure to reduce production costs. Concerns regarding data security and cyber security are the major challenges faced by the players in this market.
Download Free PDF Sample Brochure of AI in Oil & Gas Market With Detailed TOC and Company Analysis at http://www.rnrmarketresearch.com/contacts/request-sample?rname=1263815
Target Audience:
AI manufacturers and suppliers
AI system providers
Environmental research institutes
Government and research organizations
Institutional investors
National and local government organizations
Research organizations and consulting companies
Technology providers
North America is currently the largest market for AI in Oil & Gas, followed by the markets in Europe and Asia Pacific. Rising investments in the Oil & Gas infrastructure and increased focus toward automation and digitalization are expected to drive AI in the Oil & Gas market during the forecast period.
AI in Oil and Gas Market -By Function:
Predictive maintenance and machinery inspection
Material movement
Production planning
Field services
Quality control
Reclamation
Make an Inquiry for Discounted AI in Oil and Gas Market Report at http://www.rnrmarketresearch.com/contacts/discount?rname=1263815
Key Company Profiles:
1 IBM
2 Accenture
3 Google
4 Microsoft
5 Oracle
6 Intel
7 Numenta
8 Sentient Technologies
9 Inbenta
10 General Vision
11 Cisco
12 Fugenx Technologies
13 Infosys
14 Hortonworks
15 Shell
By Application:The midstream segment is expected to grow at the highest CAGR in the global AI in Oil & Gas market during the forecast period. The growth in the shale oil and gas production in the US is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals.
The Middle East and Africa is the fastest market for AI in Oil & Gas due to the recent discovery of offshore reserves in the Red Sea region. The increase in E&P activities is likely to boost the demand for AI solutions during the forecast period. The increasing investments in start-ups for AI implementation would further raise the demand for AI in the Oil & Gas market soon.
The distribution of primary interviews is as follows:
By Company Type: Tier 1- 55%, Tier 2- 25%, Tier 3- 20%
By Designation: C-Level- 35%, Manager Level- 30%, Others- 35%
By Region: Europe- 20%, North America- 15%, Asia Pacific- 25%, South America- 10%, and Middle East & Africa- 25%
List of Tables & Figures:
Table 1 AI in Oil & Gas Market Snapshot
Table 2 AI in Oil & Gas Market Size, By Type, 20152022 (USD Million)
Table 3 Hardware: AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 4 Hardware: Top Countries for AI in Oil & Gas Market, 20152022 (USD Million)
Table 5 Software: AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 6 Services AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 7 AI in Oil & Gas Market, By Function, 20152022 (USD Million)
Table 8 Predictive Maintenance & Machine Inspection AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 9 Material Movement AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 10 Production Planning AI in Oil & Gas Market, By Region, 20152022 (USD Million) Continued
For more information about this report visit http://www.rnrmarketresearch.com/contacts/purchase?rname=1263815
About Us: RnRMarketResearch.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.
Contact:
Hrishikesh Patwardhan
RnR Market Research
Corporate Headquarters
Tower B5, office 101,
Magarpatta SEZ,
Hadapsar, Pune-411013, India
+ 1 888 391 5441
The growth of AI in Oil & Gas market can be attributed to the big data technology in the Oil & Gas industry to augment E&P capabilities, a significant increase in venture capital investments, growing need for automation in the Oil & Gas industry, and tremendous pressure to reduce production costs. Concerns regarding data security and cyber security are the major challenges faced by the players in this market.
Download Free PDF Sample Brochure of AI in Oil & Gas Market With Detailed TOC and Company Analysis at http://www.rnrmarketresearch.com/contacts/request-sample?rname=1263815
Target Audience:
AI manufacturers and suppliers
AI system providers
Environmental research institutes
Government and research organizations
Institutional investors
National and local government organizations
Research organizations and consulting companies
Technology providers
North America is currently the largest market for AI in Oil & Gas, followed by the markets in Europe and Asia Pacific. Rising investments in the Oil & Gas infrastructure and increased focus toward automation and digitalization are expected to drive AI in the Oil & Gas market during the forecast period.
AI in Oil and Gas Market -By Function:
Predictive maintenance and machinery inspection
Material movement
Production planning
Field services
Quality control
Reclamation
Make an Inquiry for Discounted AI in Oil and Gas Market Report at http://www.rnrmarketresearch.com/contacts/discount?rname=1263815
Key Company Profiles:
1 IBM
2 Accenture
3 Google
4 Microsoft
5 Oracle
6 Intel
7 Numenta
8 Sentient Technologies
9 Inbenta
10 General Vision
11 Cisco
12 Fugenx Technologies
13 Infosys
14 Hortonworks
15 Shell
By Application:The midstream segment is expected to grow at the highest CAGR in the global AI in Oil & Gas market during the forecast period. The growth in the shale oil and gas production in the US is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals.
The Middle East and Africa is the fastest market for AI in Oil & Gas due to the recent discovery of offshore reserves in the Red Sea region. The increase in E&P activities is likely to boost the demand for AI solutions during the forecast period. The increasing investments in start-ups for AI implementation would further raise the demand for AI in the Oil & Gas market soon.
The distribution of primary interviews is as follows:
By Company Type: Tier 1- 55%, Tier 2- 25%, Tier 3- 20%
By Designation: C-Level- 35%, Manager Level- 30%, Others- 35%
By Region: Europe- 20%, North America- 15%, Asia Pacific- 25%, South America- 10%, and Middle East & Africa- 25%
List of Tables & Figures:
Table 1 AI in Oil & Gas Market Snapshot
Table 2 AI in Oil & Gas Market Size, By Type, 20152022 (USD Million)
Table 3 Hardware: AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 4 Hardware: Top Countries for AI in Oil & Gas Market, 20152022 (USD Million)
Table 5 Software: AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 6 Services AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 7 AI in Oil & Gas Market, By Function, 20152022 (USD Million)
Table 8 Predictive Maintenance & Machine Inspection AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 9 Material Movement AI in Oil & Gas Market, By Region, 20152022 (USD Million)
Table 10 Production Planning AI in Oil & Gas Market, By Region, 20152022 (USD Million) Continued
For more information about this report visit http://www.rnrmarketresearch.com/contacts/purchase?rname=1263815
About Us: RnRMarketResearch.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.
Contact:
Hrishikesh Patwardhan
RnR Market Research
Corporate Headquarters
Tower B5, office 101,
Magarpatta SEZ,
Hadapsar, Pune-411013, India
+ 1 888 391 5441
Contact Information:
ReportsnReports
Ganesh Pardeshi
Tel: + 18883915441
Email us
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ReportsnReports
Ganesh Pardeshi
Tel: + 18883915441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results