How big is the AI In Oil And Gas Market?

The AI In Oil And Gas Market size is expected to reach USD 3.14 billion in 2024 and grow at a CAGR of 12.61% to reach USD 5.70 billion by 2029. Read More

What is the current AI In Oil And Gas Market size?

In 2024, the AI In Oil And Gas Market size is expected to reach USD 3.14 billion. Read More

Who are the key players in AI In Oil And Gas Market?

IBM Corporation, Fugenx Technologies, C3.AI Inc., Microsoft Corporation and Intel Corporation are the major companies operating in the AI In Oil And Gas Market. Read More

Which is the fastest growing region in AI In Oil And Gas Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in AI In Oil And Gas Market?

In 2024, the North America accounts for the largest market share in AI In Oil And Gas Market. Read More

What years does this AI In Oil And Gas Market cover, and what was the market size in 2023?

In 2023, the AI In Oil And Gas Market size was estimated at USD 2.74 billion. The report covers the AI In Oil And Gas Market historical market size for years: 2022 and 2023. The report also forecasts the AI In Oil And Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

How does AI improve safety and efficiency in the Oil and Gas Market?

AI improves safety and efficiency in the Oil and Gas Market by predicting equipment failures, optimizing systems, analyzing data for better exploration, and providing data-driven insights Read More

How does AI improve safety and efficiency in the Oil and Gas Market?

AI improves safety and efficiency in the Oil and Gas Market by predicting equipment failures, optimizing systems, analyzing data for better exploration, and providing data-driven insights Read More

How does AI improve safety and efficiency in the Oil and Gas Market?

AI improves safety and efficiency in the Oil and Gas Market by predicting equipment failures, optimizing systems, analyzing data for better exploration, and providing data-driven insights Read More

AI in Oil and Gas Market Analysis | Industry Report, Size & Forecast

AI in Oil and Gas Market Analysis - Industry Report, Size & Forecast (2024 - 2029)

The AI in Oil and Gas Market Report is Segmented by Operation (Upstream, Midstream, and Downstream), Type (Platform and Services), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

AI In Oil And Gas Industry Overview

The AI in oil and gas market is fragmented, featuring a mix of global giants and numerous small and medium-sized enterprises. Noteworthy players include IBM Corporation, Fugenx Technologies, C3.AI Inc., Microsoft Corporation, and Intel Corporation. These companies are increasingly turning to strategic collaborations and acquisitions to bolster their product portfolios and secure a competitive edge.

January 2023: C3 AI, specializing in AI application software, unveiled its C3 Generative AI Product Suite, debuting with the C3 Generative AI for Enterprise Search. This suite boasts advanced transformer models, streamlining integration across diverse value chains. The introduction of C3 Generative AI is poised to boost transformative efforts in various industries, including oil and gas.

August 2023: Wintershall Dea, a leading European player in natural gas and oil, pivoting toward a focus on gas and carbon management, joined hands with IBM Consulting to establish an AI Center of Competence (CoC). This strategic alliance, with Microsoft as a shared technology partner, is geared toward driving forward AI applications that elevate energy production.