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AI in Oil and Gas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 143 pages | ID: A24A413B6C53EN
IMARC Group

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The global AI in oil and gas market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 9.76% during 2023-2028.

Artificial Intelligence (AI) refers to an advanced technology that assists in optimizing midstream, upstream, and downstream operations and productivity in the oil and gas industry. It is commonly used for analyzing exploration and reservoir data, enhancing back-office and invoicing and billing processes, maximizing labor productivity, improving reliability, automating financial controls, and managing and optimizing supply chains. Apart from this, AI in oil and gas assists in detecting problems earlier and faster, thus reducing costs, enhancing operational efficiency, scheduling maintenance, pre-planning safety measures, assuring quality, reducing downtime and increasing production. Consequently, it is also used for enhancing quality control, material movement, production planning and machinery inspection applications.

AI in Oil and Gas Market Trends:
The significant growth in the oil and gas industry across the globe is creating a positive outlook for the market. The AI tools aid in automating the analysis of gathered geological data, digitizing records and identifying issues, such as increased equipment usage and pipeline corrosion. In line with this, the widespread product adoption to monitor toxicity levels and leaks and automatically adjust cooling and heating systems is favoring the market growth. Apart from this, various advancements, such as the integration of machine learning (ML) with AI in the oil and gas industry to solve complex problems efficiently and quickly, are providing a considerable boost to the market growth. Additionally, the increasing demand for advanced solutions in drilling, boiler diagnostics, quality control, planning and predictive maintenance in various operations is positively impacting the market growth. Other factors, including the increasing product demand among oilfield operators, the implementation of various government initiatives to reduce the environmental impact of energy production, and extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global AI in oil and gas market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, function and application.

Breakup by Type:

Hardware
Software
Services

Breakup by Function:

Predictive Maintenance and Machinery Inspection
Material Movement
Production Planning
Field Services
Quality Control
Reclamation

Breakup by Application:

Upstream
Downstream
Midstream

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, C3.AI Inc., Cisco Systems Inc., Cloudera Inc., Fugenx Technologies, Huawei Technologies Co. Ltd, Infosys Limited, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Neudax, Nvidia Corporation, Oracle Corporation and Shell plc.

Key Questions Answered in This Report:
How has the global AI in oil and gas market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global AI in oil and gas market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the function?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global AI in oil and gas market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL AI IN OIL AND GAS MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Hardware
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Software
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Services
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY FUNCTION

7.1 Predictive Maintenance and Machinery Inspection
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Material Movement
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Production Planning
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Field Services
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Quality Control
  7.5.1 Market Trends
  7.5.2 Market Forecast
7.6 Reclamation
  7.6.1 Market Trends
  7.6.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Upstream
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Downstream
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Midstream
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Accenture plc
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2 C3.AI Inc.
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
  14.3.3 Cisco Systems Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4 Cloudera Inc.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 Fugenx Technologies
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
  14.3.6 Huawei Technologies Co. Ltd
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 SWOT Analysis
  14.3.7 Infosys Limited
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
    14.3.7.4 SWOT Analysis
  14.3.8 Intel Corporation
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 Financials
    14.3.8.4 SWOT Analysis
  14.3.9 International Business Machines Corporation
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 Financials
  14.3.10 Microsoft Corporation
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11 Neudax
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
  14.3.12 Nvidia Corporation
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio
    14.3.12.3 Financials
    14.3.12.4 SWOT Analysis
  14.3.13 Oracle Corporation
    14.3.13.1 Company Overview
    14.3.13.2 Product Portfolio
    14.3.13.3 Financials
    14.3.13.4 SWOT Analysis
  14.3.14 Shell plc
    14.3.14.1 Company Overview
    14.3.14.2 Product Portfolio
    14.3.14.3 Financials

LIST OF TABLES

Table 1: Global: AI in Oil and Gas Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: AI in Oil and Gas Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: AI in Oil and Gas Market Forecast: Breakup by Function (in Million US$), 2023-2028
Table 4: Global: AI in Oil and Gas Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: AI in Oil and Gas Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: AI in Oil and Gas Market: Competitive Structure
Table 7: Global: AI in Oil and Gas Market: Key Players

LIST OF FIGURES

Figure 1: Global: AI in Oil and Gas Market: Major Drivers and Challenges
Figure 2: Global: AI in Oil and Gas Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: AI in Oil and Gas Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: AI in Oil and Gas Market: Breakup by Type (in %), 2022
Figure 5: Global: AI in Oil and Gas Market: Breakup by Function (in %), 2022
Figure 6: Global: AI in Oil and Gas Market: Breakup by Application (in %), 2022
Figure 7: Global: AI in Oil and Gas Market: Breakup by Region (in %), 2022
Figure 8: Global: AI in Oil and Gas (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: AI in Oil and Gas (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: AI in Oil and Gas (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: AI in Oil and Gas (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: AI in Oil and Gas (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: AI in Oil and Gas (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: AI in Oil and Gas (Predictive Maintenance and Machinery Inspection) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: AI in Oil and Gas (Predictive Maintenance and Machinery Inspection) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: AI in Oil and Gas (Material Movement) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: AI in Oil and Gas (Material Movement) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: AI in Oil and Gas (Production Planning) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: AI in Oil and Gas (Production Planning) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: AI in Oil and Gas (Field Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: AI in Oil and Gas (Field Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: AI in Oil and Gas (Quality Control) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: AI in Oil and Gas (Quality Control) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: AI in Oil and Gas (Reclamation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: AI in Oil and Gas (Reclamation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: AI in Oil and Gas (Upstream) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: AI in Oil and Gas (Upstream) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: AI in Oil and Gas (Downstream) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: AI in Oil and Gas (Downstream) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: AI in Oil and Gas (Midstream) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: AI in Oil and Gas (Midstream) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: North America: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: North America: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: United States: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: United States: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Canada: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Canada: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Asia-Pacific: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Asia-Pacific: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: China: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: China: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Japan: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Japan: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: India: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: India: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: South Korea: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: South Korea: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Australia: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Australia: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Indonesia: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Indonesia: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Others: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Others: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Europe: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Europe: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Germany: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Germany: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: France: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: France: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: United Kingdom: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: United Kingdom: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Italy: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Italy: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Spain: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Spain: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Russia: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Russia: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Latin America: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Latin America: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Brazil: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Brazil: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Mexico: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Mexico: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Others: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Others: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Middle East and Africa: AI in Oil and Gas Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Middle East and Africa: AI in Oil and Gas Market: Breakup by Country (in %), 2022
Figure 80: Middle East and Africa: AI in Oil and Gas Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Global: AI in Oil and Gas Industry: SWOT Analysis
Figure 82: Global: AI in Oil and Gas Industry: Value Chain Analysis
Figure 83: Global: AI in Oil and Gas Industry: Porter's Five Forces Analysis


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