AI in Oil and Gas Market Reach USD 7.99 Billion by 2031 Growing at 13.5% CAGR Globally
WILMINGTON, DE, UNITED STATES, August 18, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "AI in Oil and Gas Market Reach USD 7.99 Billion by 2031 Growing at 13.5% CAGR Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global AI in oil and gas market was valued at USD 2.32 billion in 2021 and is projected to reach USD 7.99 billion by 2031, growing at a CAGR of 13.5% from 2022 to 2031.
Request Sample Report (Get Full Insights in PDF – 260 Pages) at: https://www.alliedmarketresearch.com/request-sample/A17000
Driving Factors
Benefits such as excellent fault detection and quality improvement, reduction in costs related to production and maintenance, and enhanced safety and security standards drive the growth of the global AI in oil and gas market. However, significant reduction in demand for fossil fuels and high emission of carbon dioxide (CO₂) and other greenhouse gases restrain the market growth. On the other hand, high rate of adoption of AI technologies across the oilfield operators and service providers and rise in investments by government and private organizations create new opportunities in the coming years.
Market Segmentation
The oil and gas industry is beginning to see the incredible impact that AI can have on every sector in the value chain. The opportunities for AI strike directly at the greatest challenges in today’s oilfield. Companies that effectively leverage AI are expected to have a distinct advantage over other operators that lack accurate understanding of their reservoirs, operating processes, and producing assets.The AI in oil and gas market is segmented into Component and Operation.Depending on component, the market is bifurcated into solution and services. On the basis of operation, the market is divided into upstream, midstream, and downstream. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players
Cisco Systems, Inc., Intel Corporation, FuGenX Technologies Pvt. Ltd , Inc., Oracle, IBM, NVIDIA Corporation, C3.AI, Microsoft Corporation, Google LLC, Cloudera, Inc.
If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/A17000
Based on region, North America held the largest market share in 2021, accounting for around two-fifths of the global AI in oil and gas market, and is expected to maintain its lead status by 2031. This is due to high rate of AI technology adoption across the oilfield operators and service providers, presence of leading AI software and system suppliers, and rise in R&D activities. However, Asia-Pacific is projected to register the fastest CAGR of 15.2% from 2022 to 2031, owing to measures taken to fulfill the rise in demand for fuel with increase in passenger cars in the region. The research also analyzes regions including Europe and LAMEA.
Based on component, the solution segment accounted for the largest market share in 2021, contributing to more than three-fourths of the global AI in oil and gas market, and is projected to maintain its lead position during the forecast period. This is due to availability of a wide range of solutions that are applicable in quality control, predictive maintenance, production planning, and efficient fleet management. However, the services segment is estimated to witness the largest CAGR of 15.4% from 2022 to 2031, owing to smooth end-to-end user experiences and utilization of AI in oil and gas services to enable users accomplish their goals without needing to navigate to multiple sites.
Based on operation, the upstream segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global AI in oil and gas industry, and is expected to maintain its dominant share during the forecast period. This is due to usage in searching for potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, and drilling & operating the wells to lift the crude oil or raw natural gas to the surface. However, the midstream segment is projected to manifest the fastest CAGR of 14.6% from 2022 to 2031, owing to utilization in activities such as storage, processing, and transportation of petroleum products and specialization in operating pipelines, tanker ships, or storage facilities. The research also analyzes the downstream segment.
Buy Now & Get Exclusive Discount on this Report (260 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/ai-in-oil-and-gas-market/purchase-options
COVID-19 Scenario
● The Covid-19 pandemic led to decline in demand in the oil and gas industry. As per the statistics published by the International Energy Agency, the oil demand reduced by nearly 29 million barrels per day during April 2020. Moreover, it further declined by 23.1 million barrels per day by the second quarter in 2020. However, the implementation of AI in the oil and gas sector surged considerably during the period.
● Many oil & gas activities such as drilling, extraction, and others were stopped completely or partially due to lockdown. Lack of availability of sufficient workforce affected the daily activities. However, the implementation of advanced technologies such as AI increased for carrying out various operations such as predicting the outcomes of mining operations.
● Many government authorities and private organizations postponed their investments in R&D activities with the occurrence of economic uncertainty. Post-pandemic, the market is estimated to stabilize and investments would increase steadily.
Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
Other Trending Reports:
Digital Agriculture Market
Network Management Market
About Us:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
The global AI in oil and gas market was valued at USD 2.32 billion in 2021 and is projected to reach USD 7.99 billion by 2031, growing at a CAGR of 13.5% from 2022 to 2031.
Request Sample Report (Get Full Insights in PDF – 260 Pages) at: https://www.alliedmarketresearch.com/request-sample/A17000
Driving Factors
Benefits such as excellent fault detection and quality improvement, reduction in costs related to production and maintenance, and enhanced safety and security standards drive the growth of the global AI in oil and gas market. However, significant reduction in demand for fossil fuels and high emission of carbon dioxide (CO₂) and other greenhouse gases restrain the market growth. On the other hand, high rate of adoption of AI technologies across the oilfield operators and service providers and rise in investments by government and private organizations create new opportunities in the coming years.
Market Segmentation
The oil and gas industry is beginning to see the incredible impact that AI can have on every sector in the value chain. The opportunities for AI strike directly at the greatest challenges in today’s oilfield. Companies that effectively leverage AI are expected to have a distinct advantage over other operators that lack accurate understanding of their reservoirs, operating processes, and producing assets.The AI in oil and gas market is segmented into Component and Operation.Depending on component, the market is bifurcated into solution and services. On the basis of operation, the market is divided into upstream, midstream, and downstream. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players
Cisco Systems, Inc., Intel Corporation, FuGenX Technologies Pvt. Ltd , Inc., Oracle, IBM, NVIDIA Corporation, C3.AI, Microsoft Corporation, Google LLC, Cloudera, Inc.
If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/A17000
Based on region, North America held the largest market share in 2021, accounting for around two-fifths of the global AI in oil and gas market, and is expected to maintain its lead status by 2031. This is due to high rate of AI technology adoption across the oilfield operators and service providers, presence of leading AI software and system suppliers, and rise in R&D activities. However, Asia-Pacific is projected to register the fastest CAGR of 15.2% from 2022 to 2031, owing to measures taken to fulfill the rise in demand for fuel with increase in passenger cars in the region. The research also analyzes regions including Europe and LAMEA.
Based on component, the solution segment accounted for the largest market share in 2021, contributing to more than three-fourths of the global AI in oil and gas market, and is projected to maintain its lead position during the forecast period. This is due to availability of a wide range of solutions that are applicable in quality control, predictive maintenance, production planning, and efficient fleet management. However, the services segment is estimated to witness the largest CAGR of 15.4% from 2022 to 2031, owing to smooth end-to-end user experiences and utilization of AI in oil and gas services to enable users accomplish their goals without needing to navigate to multiple sites.
Based on operation, the upstream segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global AI in oil and gas industry, and is expected to maintain its dominant share during the forecast period. This is due to usage in searching for potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, and drilling & operating the wells to lift the crude oil or raw natural gas to the surface. However, the midstream segment is projected to manifest the fastest CAGR of 14.6% from 2022 to 2031, owing to utilization in activities such as storage, processing, and transportation of petroleum products and specialization in operating pipelines, tanker ships, or storage facilities. The research also analyzes the downstream segment.
Buy Now & Get Exclusive Discount on this Report (260 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/ai-in-oil-and-gas-market/purchase-options
COVID-19 Scenario
● The Covid-19 pandemic led to decline in demand in the oil and gas industry. As per the statistics published by the International Energy Agency, the oil demand reduced by nearly 29 million barrels per day during April 2020. Moreover, it further declined by 23.1 million barrels per day by the second quarter in 2020. However, the implementation of AI in the oil and gas sector surged considerably during the period.
● Many oil & gas activities such as drilling, extraction, and others were stopped completely or partially due to lockdown. Lack of availability of sufficient workforce affected the daily activities. However, the implementation of advanced technologies such as AI increased for carrying out various operations such as predicting the outcomes of mining operations.
● Many government authorities and private organizations postponed their investments in R&D activities with the occurrence of economic uncertainty. Post-pandemic, the market is estimated to stabilize and investments would increase steadily.
Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
Other Trending Reports:
Digital Agriculture Market
Network Management Market
About Us:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
David Correa
Allied Market Research
+1 800-792-5285
email us here
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