Global AI in Oil and Gas are expected to make a significant contribution to the overall industry, with an estimated market to reach USD2.9 Billion by 2026. According to the report, some of the important driving forces behind the market growth are The Surging Incidents of Oil & Gas Leakage from Storage Tanks and Pipelines at Production Facilities and Increasing Safety Concerns Among the Workforce, Especially the Maintenance of Aging Pipeline Infrastructure. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Players, additional restraints impacting market are Ambiguous Regulatory Guidelines for AI in the Oil & Gas Market which is continuously seeking attention of Industry Experts and decision makers. The incite area of the relevant players is considered thoroughly in the study with proposition to materialistic things, magnetizing and inducing methods, and the level of conflict within AI in Oil and Gas market competition.
According to a lead Analyst ""The next generation of competitive advantage in the energy marketplace will go to forward-thinking players who invest a lot on digital IoT and artificial intelligence capabilities like Cerebra from Flutura”". Buoyed by strong demand and sales, industry profit margins have increased considerably during past few years.. A lot of small ventures are looking forward to grab the opportunities in emerging regions. These opportunities can be in terms of strategic moves, joint ventures, takeovers, merger and acquisitions. These attractive market trends are further expected to gain traction among the companies in the years ahead.
The AI in Oil and Gas Ecosystem: 2020-2026 Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report presents an in-depth assessment of the AI in Oil and Gas market including latest technologies & innovation, key trends, market drivers, challenges, vertical & market applications along with deployment case studies, regulatory landscape, future roadmap and strategies, value chain and player profiles. The report also presents market size forecasts from 2020 till 2026. The forecasts are segmented by Type (Hardware, Software and Services), by Application (Upstream, Midstream and Downstream) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).