Report Highlights

The global market for AI Technology in the Oil and Gas Sector is estimated to increase from $2.8 billion in 2023 to reach $5.1 billion by 2028, at a compound annual growth rate (CAGR) of 12.9% from 2023 through 2028.

Report Includes

32 data tables and 32 additional tables

An overview of the global market for AI in the oil and gas sector

Analyses of the global market trends, with historical market revenue for 2022, estimates for 2023, forecasts for 2024 and projections of compound annual growth rates (CAGRs) through 2028

Estimate of the current market size and revenue forecast for the global market, and a corresponding analysis of market shares based on component, application and region

Facts and figures pertaining to the market dynamics, opportunities and challenges, upcoming technologies, future prospects and impacts of macroeconomic variables

Overview of the sustainability trends and ESG developments in the market, with an emphasis on consumer attitudes, ESG score analysis, a discussion of the future of ESG, and the ESG practices followed by leading companies

An analysis of the competitive landscape, including company market shares, recent M&A activity, and the outlook for venture funding

Company profiles of major players within the industry, including IBM Corp., General Electric, Accenture, Microsoft Corp., and Schneider Electric

Report Scope

The scope of this study encompasses the analysis of various components of AI technology in the global oil and gas sector, which include software, services, and hardware. It also examines different applications within the industry, such as upstream, midstream, downstream, and support functions. Additionally, the report discusses the technological, regulatory, and competitive aspects, as well as economic trends that impact the market. It further analyzes the market’s key drivers, regional dynamics, and current industry trends. The report concludes by providing detailed profiles of the major vendors in the market. The base year for the study is 2022, and projections for the years 2023 through 2028 are included, along with forecasts of the compound annual growth rate (CAGR) for the forecast period.

The report provides an overview of AI in the oil and gas sector, focusing on its key components and driving factors. It explores the software, services, and hardware aspects of the market, analyzing the solutions provided by different companies. The applications of AI in the industry are also discussed, including upstream, midstream, downstream, and support functions. The report also includes a regional analysis, examining the current and future factors influencing AI deployment in North America, Europe, Asia-Pacific, and the Rest of the World (including Latin America, the Middle East, and Africa).