AI in Oil & Gas Market

AI in Oil & Gas Market by Type (Hardware, Software, Services), Application (Upstream, Midstream, Downstream), Function (Predictive Maintenance, Production Planning, Field Service, Material Movement, Quality Control), and Region - Global Forecast to 2022

Report Code: EP 5796 Dec, 2017, by marketsandmarkets.com

[140 Pages Report] AI in Oil and Gas Market was USD 1.42 Billion in 2016 and is expected to grow at a CAGR of 12.66% from 2017 to 2022 to reach a market size of USD 2.85 Billion by 2022.

The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017 to 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and segment the global AI in the oil & gas market on the basis of type, function, application, and region
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and industry-specific challenges)
  • To estimate the size of the global AI in the oil & gas market in terms of value
  • To study the individual growth trends of the providers of AI in the oil & gas market, their future expansions, and analyze their contributions to the market
  • To forecast the revenue of market segments with respect to regions, namely, North America, Europe, South America, Asia Pacific, and the Middle East and Africa
  • To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market, covered by AI in the oil & gas market and various regions
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, and new product launches, in AI in the oil & gas market
  • To strategically profile key market players and comprehensively analyze their market position and core competencies

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of AI in Oil and Gas Market. Primary sources are mainly industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The research methodology has been explained below.

  • Study of annual revenues and market developments of major players that offer artificial intelligence
  • Assessment of future trends of AI in Oil and Gas Market
  • Assessment of AI in Oil and Gas Market with respect to the type of AI used in various applications
  • Study of the market trends in various regions or countries supported by the type of AI in Oil and Gas Market
  • Study of contracts and developments related to AI in Oil and Gas Market by key players across different regions
  • Finalization of the overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies manufacturing AI in Oil and Gas Market across the globe

Artificial Intelligence in the Oil & Gas Market

To know about the assumptions considered for the study, download the pdf brochure

After arriving at the overall market size, the total market has been split into segments and sub-segments. The figure given above illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

AI in the oil & gas market ecosystem comprises service providers such as  IBM (US), Intel (US), Microsoft (US), Accenture (Republic of Ireland), Google (US), Microsoft (US), Oracle (US), Numenta (US), Sentient technologies (US), Inbenta (US), General Vision (US), Cisco (US), FuGenX Technologies (US), Infosys (India), Hortonworks (US), and Royal Dutch Shell (Netherlands).

Target Audience:

The report’s target audience includes:

  • 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

Scope of the Report:

AI in Oil and Gas Market has been segmented as follows.

By Type:

  • Hardware
  • Software
  • Hybrid

By Function:

  • Predictive maintenance and machinery inspection
  • Material movement
  • Production planning
  • Field services
  • Quality control
  • Reclamation

By Application:

  • Upstream
  • Downstream
  • Midstream

By Region:

  • North America
  • Asia Pacific
  • Europe
  • South America
  • Middle East and Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

Further breakdown of region-/country-specific analyses

Company Information

Detailed analyses and profiling of additional market players (up to five)

The global AI in Oil & Gas market is expected to grow at a CAGR of 12.66%, from 2017 to 2022, to reach a projected USD 2.85 Billion by 2022. The growth will be mainly driven by the rise in 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 and increase efficiency.

The report segments AI in the Oil & Gas market, on the basis of type, into hardware, software, and services. The software segment led AI in the Oil & Gas market in 2016. Software in AI in the Oil & Gas market are applicable in upstream Oil & Gas exploration and production activities. The hardware segment in AI in the Oil & Gas market is expected to grow swiftly during the forecast period (2017 to 2022), mainly due to the increasing requirement for sophisticated hardware system configurations and components capable of handling massive data, including, but not limited to Tensor Processor Unit (TPU), Graphic Processing Unit (GPU), Resistive Processing Unit (RPU), Field Programmable Gate Array (FPGA), and Visual Processing Unit (VPU) to install software-based AI capabilities.

AI in the Oil & Gas market, by function, is segmented into predictive maintenance and machinery inspection, material movement, production planning, field services, quality control, and reclamation. Preventive maintenance is the largest and one of the fastest growing segment in AI in the Oil & Gas market. Predictive maintenance aids in addressing costly downturn, by predicting maintenance schedules for equipment to prevent the possibility of equipment failures and, thus, save millions of dollars.

The report further segments AI in the Oil & Gas market, by application into upstream, midstream, and downstream. The upstream segment of AI in the Oil & Gas market is expected to account for the largest market size and grow at the highest CAGR during the forecast period.

Artificial Intelligence in the Oil & Gas Market

North America is projected to be the largest market for AI in the Oil & Gas market due to increasing adoption of AI technologies by oilfield operators and service providers and the strong presence of prominent AI software and system suppliers, especially in the US and Canada. The Middle East and Africa is the fastest growing market due to increasing investments in start-ups for AI implementation, which would further raise the demand for AI in the near future.

The major factor restraining the growth of AI in the Oil & Gas market is the ambiguous regulatory guidelines for AI in the Oil & Gas market.

Some of the global players in this market include IBM (US), Accenture (Republic of Ireland), Google (US), Microsoft Corporation (US), and Oracle (US). Together they hold a strong share of the global AI in the Oil & Gas market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Geographical Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the AI in Oil & Gas Market
    4.2 AI in Oil & Gas Market, By Country
    4.3 AI in Oil & Gas Market, By Type
    4.4 AI in Oil & Gas Market, By Function

5 Market Overview (Page No. - 33)
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Big Data Technology in the Oil & Gas Industry to Augment E&P Capabilities
                    5.1.1.2 Significant Increase in Venture Capital Investments
                    5.1.1.3 Growing Need for Automation is Driving AI in Oil & Gas Industry
                    5.1.1.4 Tremendous Pressure to Reduce Production Costs
           5.1.2 Restraints
                    5.1.2.1 Lack of Stringent Regulatory Guidelines for AI in Oil & Gas Industry
                    5.1.2.2 High AI Installation Costs
           5.1.3 Opportunities
                    5.1.3.1 Improving Operational Efficiency in the Oil & Gas Industry
                    5.1.3.2 Predictive Maintenance to Avoid Costly Downtime
           5.1.4 Challenges
                    5.1.4.1 Concerns Regarding Data Privacy & Increased Cyber Security Risks

6 AI in Oil & Gas Market, By Type (Page No. - 39)
    6.1 Introduction
    6.2 Hardware
    6.3 Software
    6.4 Services

7 AI in Oil & Gas Market, By Function (Page No. - 45)
    7.1 Introduction
    7.2 Predictive Maintenance & Machine Inspection
    7.3 Material Movement
    7.4 Production Planning
    7.5 Field Services
    7.6 Quality Control
    7.7 Reclamation

8 AI in Oil & Gas Market, By Application (Page No. - 52)
    8.1 Introduction
    8.2 Upstream
    8.3 Midstream
    8.4 Downstream

9 AI in Oil & Gas Market, By Region (Page No. - 57)
    9.1 Introduction
    9.2 North America
           9.2.1 By Type
           9.2.2 By Function
           9.2.3 By Application
           9.2.4 By Country
                    9.2.4.1 US
                    9.2.4.2 Canada
                    9.2.4.3 Mexico
    9.3 Europe
           9.3.1 By Type
           9.3.2 By Function
           9.3.3 By Application
           9.3.4 By Country
                    9.3.4.1 Norway
                    9.3.4.2 UK
                    9.3.4.3 Russia
                    9.3.4.4 Rest of Europe
    9.4 Asia Pacific
           9.4.1 By Type
           9.4.2 By Function
           9.4.3 By Application
           9.4.4 By Country
                    9.4.4.1 China
                    9.4.4.2 India
                    9.4.4.3 Australia
                    9.4.4.4 Malaysia
                    9.4.4.5 Rest of Asia Pacific
    9.5 South America
           9.5.1 By Type
           9.5.2 By Function
           9.5.3 By Application
           9.5.4 By Country
                    9.5.4.1 Brazil
                    9.5.4.2 Argentina
                    9.5.4.3 Venezuela
                    9.5.4.4 Rest of South America
    9.6 Middle East & Africa
           9.6.1 By Type
           9.6.2 By Function
           9.6.3 By Application
           9.6.4 By Country
                    9.6.4.1 Saudi Arabia
                    9.6.4.2 UAE
                    9.6.4.3 Nigeria
                    9.6.4.4 Qatar
                    9.6.4.5 Rest of the Middle & Africa

10 Competitive Landscape (Page No. - 94)
     10.1 Introduction
     10.2 Market Ranking Analysis
     10.3 Competitive Scenario
             10.3.1 Partnerships and Collaborations
             10.3.2 New Product Launches
             10.3.3 Investments and Expansions
             10.3.4 Contracts & Agreements
             10.3.5 Others

11 Company Profiles (Page No. - 98)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     11.1 IBM
     11.2 Accenture
     11.3 Google
     11.4 Microsoft
     11.5 Oracle
     11.6 Intel
     11.7 Numenta
     11.8 Sentient Technologies
     11.9 Inbenta
     11.10 General Vision
     11.11 Cisco
     11.12 Fugenx Technologies
     11.13 Infosys
     11.14 Hortonworks
     11.15 Shell

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 131)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (66 Tables)

Table 1 AI in Oil & Gas Market Snapshot
Table 2 AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 3 Hardware: AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 4 Hardware: Top Countries for AI in Oil & Gas Market, 2015–2022 (USD Million)
Table 5 Software: AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 6 Services AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 7 AI in Oil & Gas Market, By Function, 2015–2022 (USD Million)
Table 8 Predictive Maintenance & Machine Inspection AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 9 Material Movement AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 10 Production Planning AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 11 Field Services AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 12 Quality Control AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 13 Reclamation AI in Oil & Gas Market, By Region, 2015–2022 (USD Million)
Table 14 AI in Oil & Gas Market Size, By Application, 2015–2022 (USD Million)
Table 15 Upstream: AI in Oil & Gas Market Size, By Region, 2015–2022 (USD Million)
Table 16 Midstream: AI in Oil & Gas Market Size, By Region, 2015–2022 (USD Million)
Table 17 Downstream: AI in Oil & Gas Market Size, By Region, 2015–2022 (USD Million)
Table 18 AI in Oil & Gas Market Size, By Region, 2015–2022 (USD Million)
Table 19 Top Five Countries: AI in Oil & Gas Market Size, 2015–2022 (USD Million)
Table 20 Top Five Countries With High CAGR: AI in Oil & Gas Market, 2015–2022 (USD Million)
Table 21 North America: AI in Oil & Gas Market Size, By Country, 2015–2022 (USD Million)
Table 22 North America: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 23 North America: AI in Oil & Gas Market Size, By Function 2015–2022 (USD Million)
Table 24 North America: AI in Oil & Gas Market Size, By Application, 2015–2022 (USD Million)
Table 25 US: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 26 Canada: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 27 Mexico: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 28 Europe: AI in Oil & Gas Market Size, By Country, 2015–2022 (USD Million)
Table 29 Europe: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 30 Europe: AI in Oil & Gas Market Size, By Function, 2015–2022 (USD Million)
Table 31 Europe: AI in Oil & Gas Market Size, By Application, 2015–2022 (USD Million)
Table 32 Norway: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 33 UK: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 34 Russia: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 35 Rest of Europe: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 36 Asia Pacific: AI in Oil & Gas Market Size, By Country, 2015–2022 (USD Million)
Table 37 Asia Pacific: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 38 Asia Pacific: AI in Oil & Gas Market Size, By Function, 2015–2022 (USD Million)
Table 39 Asia Pacific: AI in Oil & Gas Market Size, By Application, 2015–2022 (USD Million)
Table 40 China: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 41 India: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 42 Australia: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 43 Malaysia: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 44 Rest of Asia Pacific: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 45 South America: AI in Oil & Gas Market Size, By Country, 2015–2022 (USD Million)
Table 46 South America: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 47 South America: AI in Oil & Gas Market Size, By Function, 2015–2022 (USD Million)
Table 48 South America: AI in Oil & Gas Market Size, By Application, 2015–2022 (USD Million)
Table 49 Brazil: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 50 Argentina: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 51 Venezuela: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 52 Rest of South America: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 53 Middle East & Africa: AI in Oil & Gas Market Size, By Country, 2015–2022 (USD Million)
Table 54 Middle East & Africa: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 55 Middle East & Africa: AI in Oil & Gas Market Size, By Function, 2015–2022 (USD Million)
Table 56 Middle East & Africa: AI in Oil & Gas Market Size, By Application, 2015–2022 (USD Million)
Table 57 Saudi Arabia: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 58 UAE: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 59 Nigeria: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 60 Qatar: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 61 Rest of the Middle East & Africa: AI in Oil & Gas Market Size, By Type, 2015–2022 (USD Million)
Table 62 Partnerships and Collaborations, 2014–2017
Table 63 New Product Launches, 2014–2017
Table 64 Investments and Expansions, 2015–2017
Table 65 Contracts & Agreements, 2014–2017
Table 66 Others, 2014–2017


List of Figures (42 Figures)

Figure 1 Markets Covered: AI in Oil & Gas Market
Figure 2 AI in Oil & Gas: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 The Market in North America Led AI in Oil & Gas Market in 2016
Figure 8 The Software Segment is Expected to Dominate AI in Oil & Gas Market During the Forecast Period
Figure 9 The Predictive Maintenance & Machine Inspection Segment is Expected to Lead AI in Oil & Gas Market During the Forecast Period
Figure 10 The Upstream Segment is Expected to Dominate AI in Oil & Gas Market During the Forecast Period
Figure 11 Big Data Technology in Oil & Gas Sector to Augment E&P Capabilities is A Driving Factor During the Forecast Period
Figure 12 Saudi Arabia is Expected to Grow at the Fastest Rate During the Forecast Period
Figure 13 The Software Segment is Expected to Dominate AI in Oil & Gas Market During the Forecast Period
Figure 14 The Predictive Maintenance & Machinery Inspection Segment is Expected to Dominate AI in Oil & Gas Market in 2017
Figure 15 AI in Oil & Gas Market: Drivers, Restraints, Opportunities, & Challenges
Figure 16 Cost of Producing A Barrel of Oil & Gas, 2016
Figure 17 The Software Segment is Expected to Dominate the AI in Oil & Gas Market During the Forecast Period
Figure 18 Predictive Maintenance & Machinery Inspection is the Dominant Segment for AI in Oil & Gas Market During the Forecast Period
Figure 19 Upstream Segment Led AI in Oil & Gas Market in 2016
Figure 20 Regional Snapshot: AI in Oil & Gas Market (2017 & 2022)
Figure 21 The North American Market is Expected to Be the Largest for AI in Oil & Gas Market During the Forecast Period
Figure 22 North America: Market Snapshot
Figure 23 UK: the Largest AI in Oil & Gas Market in Europe in 2016
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Brazil: the Expected Largest AI in Oil & Gas Market in South America in 2017
Figure 26 Saudi Arabia: the Largest AI in Oil & Gas Market in the Middle East & Africa, 2016
Figure 27 Key Developments in the AI in Oil & Gas Market, 2014–2017
Figure 28 Market Ranking Based on Revenue, 2016
Figure 29 IBM: Company Snapshot
Figure 30 IBM: SWOT Analysis
Figure 31 Accenture: Company Snapshot
Figure 32 Accenture: SWOT Analysis
Figure 33 Google: Company Snapshot
Figure 34 Google: SWOT Analysis
Figure 35 Microsoft: Company Snapshot
Figure 36 Microsoft: SWOT Analysis
Figure 37 Oracle: Company Snapshot
Figure 38 Oracle: SWOT Analysis
Figure 39 Intel: Company Snapshot
Figure 40 Cisco: Company Snapshot
Figure 41 Infosys: Company Snapshot
Figure 42 Shell: Company Snapshot


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