Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global AI in Oil and Gas Market size is expected to reach $5.2 billion by 2028, rising at a market growth of 13.2% CAGR during the forecast period.
The Midstream segment is showcasing a CAGR of 14.3% during (2022 - 2028). In the oil production process, the areas between upstream to downstream are referred to as midstream. The storage, refining, and transport of petroleum products are examples of midstream activity. These can include firms that are devoted to running storage facilities, pipelines, or tanker ships.
The Solution segment is leading the Global AI in Oil and Gas Market by Component in 2021 thereby, achieving a market value of $3.4 billion by 2028. Additionally, solution providers give a wide variety of options that can be used for more effective quality control, production scheduling, predictive maintenance, and fleet management.
The North America market dominated the Global AI in Oil and Gas Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.9 billion by 2028.The Europe market is exhibiting a CAGR of 12.5% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 14.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Oracle Corporation, Intel Corporation, IBM Corporation, Cisco Systems, Inc., Accenture PLC, NVIDIA Corporation, Cloudera, Inc., C3.ai, Inc. and FuGenX Technologies (USM Business Systems, Inc.).
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