Global Artificial Intelligence (AI) in Oil and Gas Market Ecosystem by Solutions; by Process; by Technology; by Applications (Onshore, Offshore); by Region and Forecast to 2027

Date : Jun 2020

|

Report ID : 317

|

Category : Information Technology

|
Report Format:  PDF EXCEL PPT WORD

The integration of Artificial Intelligence (AI) in Oil and Gas Market sector has reshaped all operations in the industry by creating ‘digital oilfields’ of the future. Investment expectations for AI in oil and gas market ecosystem has been increasing from the past few years and it is expected to be twice by 2022. The AI in oil and gas industry will bring in radical changes in oilfield working force, machines, and the operating system. The oil industry must ensure that there is a timely and adequate investment so as not to lead to a supply shortage in the future. To meet the demand for crude oil worldwide, the industry is required to invest $11 trillion in the coming 20 years. The rise of machines, analytics, and digital oilfield has created new processes for exploration and production. AI helps in automated decision-making and real-time reactions to improve operational efficiencies and connect infrastructure platforms together. It makes the interaction between machines and humans better, which in turn, is changing the expectation for the industry.

AI in oil and gas market ecosystem has made the decision-making process faster by detecting patterns that human eyes cannot see and thus, take advantage of the insights quicker. AI assistants in the oil industry are helping in providing customer support assistance, identifying key details, providing actionable summaries, and in removing the need for multitasking during important tasks. With help of an AI assistant, oil and gas companies can minimize or eliminate the duplication of efforts and reduce risks. AI assistants make decisions in real-time and handle the growing complexity of engineering systems. According to our estimates, Artificial Intelligence (AI) in Oil and Gas Market Ecosystem is expected to witness growth at ~16.2% CAGR from 2019 to 2020.

Ecosystem Snapshot: Artificial Intelligence (AI) in Oil and Gas Market Ecosystem

ai in oil and gas market

Today, companies are investing more in AI software and technology. Ambyint Infinity operates AWS Lamda and EMR to scale automatically and securely compute resources and for data storage. AWS prefers Ambyint’s software for real-time visualization, which it is offering to the oil and gas industry. Rosneft has already set drilling data monitoring stations with artificial intelligence elements at heavy drilling rigs. Shell is planning to implement Smart Fields to increase the total amount of oil recovered from a field by 10% and enhance the rate of production. The AI technology is allowing sensors with fiber optic cables to transmit digital information about temperature, pressure, and other field conditions to control centers where engineers constantly monitor production and make swift decisions on the best manner/process for extracting oil and gas. AI technologies are helping in activating underground valves electronically for better management of the oil flow. BP North America Petroleum, Inc. has installed sensors and fiber optic networks across its the North Sea, Gulf of Mexico, and other assets to collect and interpret huge amounts of data. North America has 60% of oil below the earth’s surface due to natural seeps. Robots powered by AI will navigate these oceanic regions and detect oil seeps, and thereby contribute to protecting the ecosystem and serve as indicators for robust energy resources.

Artificial Intelligence (AI) in Oil and Gas Market Ecosystem Segmentation

Solution

Process

Application

Technology

Hardware Solutions

Reservoir Optimization

Onshore

IoT

Software & Service Solutions

Drilling Optimization

Offshore

Advance Analytics

Data Storage solutions

Production Optimization

 

Robotics

 

Safety management

 

Cloud computing

 

Others

 

Mobility

     

Others

The AI in Oil and Gas Market Ecosystem size was valued at $413 Million in 2018. Energy projects in the Middle East and North Africa (MENA) region are expected to bring in about $1 trillion investments over the next five years. The GCC region is also looking to adopt new technologies in its petroleum industry to increase efficiency, reduce costs, and make processes more competent. Accenture and Microsoft are helping these regions in better decision-making. The Middle East is witnessing significant traction in the field of AI, and local entrepreneurs are working on developing region-specific AI tools for oil extraction. AI robots are helping in reducing the risk of exposure to dangerous working conditions for many employees. The U.S. has already experienced a decreasing trend of labor injuries or fatalities in the field in recent years. AI in oil and gas industry is an effort to improve employee working conditions and this is a smart investment for the oil and gas industry.

Artificial Intelligence in Oil and Gas Market Ecosystem Statistics Glimpse

AI in Oil and Gas Ecosystem

There are many trends that are having an impact on the market forecast. These, when evaluated from a company’s perspective, can drive growth. Our numerous consulting projects have generated sizeable synergies across all regions and all sizes of companies.

The major players operating in the Global AI in Oil and Gas Market Ecosystem are as follows:

 

Company

Ecosystem Positioning

Total Revenue (US$)

Industry

Region

Weatherford

Solution and service

US$5.7 Billion

Oilfield services & equipment

Global

National Oilwell Varco

Solution and service

US$7.3 Billion

Oilfield services & equipment

Global

Halliburton

Solution and service

‎US$ 1.656 billion

Oilfield services & equipment

Global

Kuwait Oil Company

Solution and service

US$10.9 Billion

Oilfield services & equipment

Global

Sinopec

Solution and service

US$61.6 Billion

Oilfield services & equipment

Global

Very few markets have the interconnectivity with other markets like AI. Our Interconnectivity module focuses on the key nodes of heterogenous markets in detail. Hardware Solutions Reservoir, Optimization, Onshore, IoT, Software & Service Solutions, Drilling Optimization, Offshore, Robotics

AI in Oil and Gas Ecosystem Major Interconnectivity

AI in Oil and Gas Ecosystem

Glance on AI in Oil and Gas Market Ecosystem Trends:

Trends

Process

Technology

Impact

Autonomous robots in the oil & gas industry are used for applications such as welding, drilling, pipeline inspection, etc. Autonomous robots help in performing difficult and dangerous tasks.

Production Optimization

RPA

50%

AI helps enhance data management in the oil & gas industry, which in turn, helps in reducing the overall cost.

Others

ML

0.32%

A lot of data gets generated in the oil & gas industry every day. Cloud computing has significant demand in the oil & gas industry, especially in Dubai.

Others

Cloud Computing

0.21%

Related Reports

Need specific market information ?

Ask for free product review call with the author

Share your specific research requirements for a customized report

Request for due diligence and consumer centric studies

Request for study updates, segment specific and country level reports

Ecosystem Report – Table of Content

  1. Introduction
    1. Global AI in Oil and Gas Ecosystem Definition
    2. Scope of study 
    3. Annual SaaS
  2. Executive Summary
    1. Global Market Segmentation
    2. Global Market Overview
      1. Mega Growth Drivers
      2. Major Growth Blockers
    3. Global Market Statistics
      1. By Investment
        1. AI in Oil and Gas Ecosystem Ecosystem Industry Player
        2. Investment Companies
      2. By Market Revenue / Shipments/ Price Points                            
    4. Mega Trends
    5. Competitive Landscape
      1. SWOT
      2. PEST
      3. Company Ranking
    6. Market Attractiveness
      1. By Segment Level
      2. By Geography (Region/Country)
    7. Interconnectivity
      1. Allied/Interconnected Markets
      2. Allied/Interconnected Technologies
      3. Allied/Interconnected Applications
      4. Allied/Interconnected End Users

AI in Oil and Gas Ecosystem Ecosystem Positioning

  1. Global AI in Oil and Gas Ecosystem Ecosystem Snapshot
    1. AI in Oil and Gas Ecosystem Broad Heads
      1. Demand Side
      2. Supply Side
  2. Global AI in Oil and Gas Ecosystem Ecosystem Segmentation
      1. By Solution
        1. Hardware Solutions
        2. Software & Service Solutions
        3. Data Storage solutions
      2.   By Process
        1. Reservoir Optimization
        2. Drilling Optimization
        3. Production Optimization
        4. Safety management
        5. Others
      3. By Application
        1. Onshore
        2. Offshore
      4. By Technology
        1. IoT
        2. Advance Analytics
        3. Robotics
        4. Cloud computing
        5. Mobility
        6. Others
      5. Geographic Overview
        1. North America
          1. U.S.
          2. Canada
          3. Mexico
        2. Europe
          1. U.K.
          2. Germany
          3. Italy
          4. Spain
          5. France
          6. Rest of Europe
        3. APAC
          1. India
          2. Japan
          3. China
          4. South Korea
          5. Taiwan
          6. Rest of APAC
        4. RoW
          1. Middle East
          2. Africa
          3. South America
  3. Competitive Landscape Mapping by Ecosystem Positioning
    1. Company by each node
    2. Vendor Landscaping
    3. Ecosystem Level Analysis
    4. Global AI in Oil and Gas Ecosystem Ecosystem Broad Heads
  4. Competitive Landscape Mapping by Ecosystem Positioning
    1. Company by each node
    2. Vendor Landscaping

AI in Oil and Gas Ecosystem Ecosystem Trend Analysis

  1. Global AI in Oil and Gas Ecosystem Ecosystem Trends
    1. Trend Mapping
      1. Trend Description
      2. Trend Evaluation
        1. Impact
        2. Importance
        3. Remarks
      3. Trend Outlook (Short, Mid, Long Term)
      4. Trend Company Mapping
      5. Related AI in Oil and Gas Ecosystem Mapping
      6. Trend Region/Country Mapping

AI in Oil and Gas Ecosystem Ecosystem Regulatory Analysis

  1. Overview
    1. Regulatory Mapping
    2. Regulatory Impact
    3. Regulatory Interlinkage

AI in Oil and Gas Ecosystem Sizing, Volume and ASP Analysis & Forecast

  1. Global AI in Oil and Gas Ecosystem Ecosystem Sizing & Volume
    1. Cross-segmentation
    2. Global AI in Oil and Gas Ecosystem Ecosystem Market Sizing and Forecast
    3. Global AI in Oil and Gas Ecosystem Ecosystem Volume Analysis
    4. Average Selling Price Analysis
    1. Global AI in Oil and Gas Ecosystem Ecosystem Growth Analysis

AI in Oil and Gas Ecosystem Ecosystem Competitive Intelligence

  1. Competitive Intelligence
    1. Top Industry Players vs Trend Tagging
        1. Importance
        2. Trend Nature (Positive/ Negative)
        3. Value
        4. Interconnectivity for each vendor
    2. Global AI in Oil and Gas Ecosystem Share Analysis
        1. By Each Node
    3. Strategies Adopted by Global AI in Oil and Gas Ecosystem participants
        1. Global AI in Oil and Gas Ecosystem Strategies
          1. New product launch Strategies
          2. Geographic Expansion Strategies
          3. Product-line Expansion Strategies
          4. Operational / Efficiency building Strategies
          5. Other Strategies

AI in Oil and Gas Ecosystem Company Profiles

  1. Company Profiles (Total available company profiles for this market are around 103, this is sample list of companies. Please write us at contact@alltheresearch.com for details)
    1. Sinopec
      1. Company Fundamentals
      2. Subsidiaries list
      3. Share Holding Pattern
      4. Key Employees and Board of Directors
      5. Financial Analysis
        1. Financial Summary
        2. Ratio Analysis
        3. Valuation Metrics
      6. Product & Services
      7. Client & Strategies
      8. Ecosystem Presence
      9. SWOT
      10. Trends Mapping
      11. Analyst Views
    2. Weatherford
    3. National Oilwell Varco
    4. Halliburton
    5. Kuwait Oil Company
    6. Amazon
    7. Microsoft
    8. Google
    9. IBM
    10. Exxon Mobil
    11. Petro China
    12. Chevron
    13. Total
    14. Sinopec
    15. Royal Dutch Shell
    16. Gazprom
    17. Rosneft
    18. Lukoil
    19. BP Plc
    20. ConocoPhillips

AI in Oil and Gas Ecosystem Developments

  1.  Market Developments
    1. AI in Oil and Gas Ecosystem Events & Rationale
    2. R&D, Technology and Innovation
    3. Business & Corporate advancements
    4. M&A, JVs/Partnerships
    5.  Political, Macro-economic, Regulatory
    6.  Awards & Recognition
    7. Others

Customizations

  1. Ask for Customization
    1. Sensitivity Analysis
    2. TAM SAM SOM Analysis
    3. Other Customization
  2. Appendix
    1. Sources
    2. Assumptions
    3. Contact

Choose License
Buy Now
Why Choose AllTheResearch?
  • Monthly market updates for 6 months
  • Online access of reports
  • Options to buy sections of report
  • Critically analysed research on “Quadrant Positioning” of your company.
  • Syndicated report along with a supplementary report with objective-based study
  • Get profiled in the reports. Expanding your visibility across our network of readers and viewers
  • We provide local market data in local language on request
  • A complementary co-branded white paper
  • Flat consulting fee based exclusive studies. Consult at the price of syndicate
  • Access to expert team for free transaction advisory service.


Quick Inquiry
Follow Us
Choose License
Buy Now