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Artificial Intelligence In Oil And Gas Market
Total Articles: 8
Artificial Intelligence in Oil and Gas Market is expected to reach 5.24 billion by 2026 from 1.59 billion in 2016 at CAGR of 12.54%. Artificial intelligence has expanded its application in oil & gas sector during the last few years. Exploration and availability of oil remain areas of concern and continuous development which has led to the application of artificial intelligence in oil & gas sector. Use of virtual assistants or intelligent for excavation, drilling and analyzing purpose are a few examples of how artificial intelligence is applied in oil & gas sector.Artificial Intelligence in Oil and Gas MarketSoftware segment is expected to hold the largest market share for artificial intelligence in oil & gas market globally. High demand in North America for upstream oil & gas excavations have been a major factor contributing to the overall growth of market. Preventive maintenance is massive and one of the fastest growing segments in Artificial Intelligence in the Oil & Gas market. Predictive maintenance is costly downturn so by predicting maintenance schedules for equipment helps in prevention of equipment failures thereby saving million of dollars.
North America, Europe and Asia Pacific (APAC) formed some of the largest market for artificial intelligence in oil and gas market globally. Recent natural gas explorations in Mexico along with large application of artificial systems using specific software has further helped growth of this market in North america region.
• Artificial Intelligence in Oil and Gas Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Artificial Intelligence in Oil and Gas Market.
• Artificial Intelligence in Oil and Gas Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Artificial Intelligence in Oil and Gas Market strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study.
• Artificial Intelligence in Oil and Gas Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Artificial Intelligence in Oil and Gas Market are also profiled.
Artificial Intelligence in Oil and Gas Market
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