Global AI in Oil & Gas Market is projected to grow at a CAGR of +12% from 2017 to 2022. 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. 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 cybersecurity are the major challenges faced by the players in this market.
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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.
The assessment of manufacturing plants and technical information forms the focus point of the following chapter.
Key Players Profiled in this Report: IBM (US), Accenture (Republic of Ireland), Google (US), Microsoft Corporation (US), Oracle (US).
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United States, North America, China, Europe, Japan, Southeast Asia and India.
After studying key companies, the report focuses on the startups contributing towards the growth of the market. Possible mergers and acquisitions among the startups and key organizations are identified by the report’s authors in the study.
Most companies in the AI in Oil & Gas market are currently engaged in adopting new technologies, strategies, product developments, expansions, and long-term contracts to maintain their dominance in the global AI in Oil & Gas market. Moreover, extensive investments are being made in research and development to enable product enhancements and improvements.
With the advent of new technologies on a regular basis, players are striving hard to incorporate the latest technology to gain a competitive edge above the rest.
The key opportunity regions in the market and the top trends impacting the development of the global AI in Oil & Gas market have been presented through this report. The current growth and development patterns of this market have also been encapsulated in this study.
The report also covers the key players and throws light on the strategies being adopted by them for better penetration into the market.
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Table of Contents
Global AI in Oil & Gas Market Research Report
Chapter 1 Global AI in Oil & Gas Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global AI in Oil & Gas Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Historical and projected information pertaining to cost, capacity, gross margin, imports and exports, company contact information, growth drivers and restraints, market position, production value, products, demand, and others have been included while evaluating the different regional market. A SWOT analysis of the upcoming projects being undertaken in the AI in Oil & Gas market identifies and evaluates the weaknesses, strengths, threats, and opportunities of the new projects.
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