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AI in Oil & Gas Market worth $2.85 Billion by 2022

AI in Oil & Gas market is expected to grow from an estimated USD 1.57 Billion in 2017 to USD 2.85 Billion by 2022, at a CAGR of 12.66%, during the forecast period. This growth can be attributed to the factors such as rising adoption of the big data technology, digitalization of the Oil & Gas industry, investments in AI-related start-ups, and rising pressure to reduce production costs.

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AI in Oil & Gas Market worth $2.85 Billion by 2022

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  1. AI in Oil & Gas Market by Type, Application, Function, and Region - Global Forecast to 2022 www.MarketsandMarkets.com

  2. AI in Oil & Gas market is expected to grow from an estimated USD 1.57 Billion in 2017 to USD 2.85 Billion by 2022, at a CAGR of 12.66%, during the forecast period. This growth can be attributed to the factors such as rising adoption of the big data technology, digitalization of the Oil & Gas industry, investments in AI-related start-ups, and rising pressure to reduce production costs. Browse and in-depth TOC on "AI in Oil & Gas Market" 66- Tables 42- Figures 140 - Pages View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-oil-gas-market-87246288.html

  3. The predictive maintenance and machinery inspection segment is expected to be the largest segment in AI in Oil & Gas market, by function. The predictive maintenance and machinery inspection segment is expected to be the largest in AI in Oil & Gas market, by function, in 2017. Predictive maintenance solutions are used in analyzing operational data such as drill maintenance or downtime and real-time decision making and then develop models that can predict equipment failure modes. Predictive maintenance is applicable across all the streams of the Oil & Gas sector and is extremely crucial in running uninterrupted operations by predicting accurate equipment status to avoid costly downturn. PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=87246288

  4. The software segment is expected to hold the largest share of AI in Oil & Gas market, by type, during the forecast period The software segment led AI in Oil & Gas market in 2016 and is expected to grow at a decent pace during the forecast period. A rapid growth in North America is driven by high demand from the upstream Oil & Gas applications for AI in the region, which is the main reason for a large market share held by the segment. Request for Customization : https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=87246288

  5. North America: The leading regional market in artificial intelligence in Oil & Gas In this report, AI in Oil & Gas market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America is the largest and one of the most advanced markets for AI in the Oil & Gas market. Increasing adoption of AI technologies by oilfield operators and service providers and a strong presence of prominent AI software and system suppliers, especially in the US and Canada, drive the market growth in the region. Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=87246288

  6. 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 • Speak to analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=87246288

  7. Key players - • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the AI in Oil & Gas market. These players include • IBM(US), • Accenture(Republic of Ireland), • Google(US), • MicrosoftCorporation (US), • Oracle(US), etc. • Buy Now : - • https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=87246288

  8. Contact:Mr. Shelly SinghMarketsandMarkets™ INC.630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 UK : 44-800-368-9399Email: sales@marketsandmarkets.com

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