The Europe AI in Oil and Gas Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
The sharp reduction in oil prices throughout the world has been the most unexpected element driving up demand for machine learning in the oil and gas industry. Margin constraints as a result forced oil and gas operators to change their priorities from raising overall output to successfully optimizing it.
The factors propelling the growth of the artificial intelligence market in the oil and gas industry include the elimination of the costly risk of drilling, utilizing big data to improve operational performance, and transforming the traditional production system into new forecasting technologies. By assisting operators in controlling crucial activities via automated systems without any need for human presence, artificial intelligence can reduce health and safety risks.
Artificial intelligence technologies reduce or eliminate duplication of effort and further aid to mitigate business risk since they can automate and optimize data-rich operations. This raises productivity while lowering total operating expenses. Oil and gas companies all around the world have updated their operating and production models to incorporate artificial intelligence as a key component of business transformation. Thus, there is tremendous potential for quick growth in the oil and gas industry's artificial intelligence sector.
The World Intellectual Property Organization released a report on the technology trends in AI earlier this year, and this study seeks to examine those patterns with a stronger emphasis on the UK. It explores previous and present trends in this quickly developing field of technology and offers an overview of the landscape of AI patents. It is one of the first to examine in greater detail how the UK's AI industry compares to that of other nations in terms of patenting activities.
The Germany market dominated the Europe AI in Oil and Gas Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $348 million by 2028.The UK market is anticipated to grow at a CAGR of 11.6% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 13.3% during (2022 - 2028).
Based on Operation, the market is segmented into Upstream, Midstream and Downstream. Based on Component, the market is segmented into Solution and Services. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global AI in Oil and Gas Market will Hit $5.2 Billion by 2028, at a CAGR of 13.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.).
Scope of the Study
Market Segments Covered in the Report:
By Operation
- Upstream
- Midstream
- Downstream
By Component
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Microsoft Corporation
- Oracle Corporation
- Intel Corporation
- IBM Corporation
- Cisco Systems, Inc.
- Accenture PLC
- NVIDIA Corporation
- Cloudera, Inc.
- C3.ai, Inc.
- FuGenX Technologies (USM Business Systems, Inc.)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe AI in Oil and Gas Market, by Operation
1.4.2 Europe AI in Oil and Gas Market, by Component
1.4.3 Europe AI in Oil and Gas Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, Jan – 2022, Jun) Leading Players
3.4.3 Key Strategic Move: (Acquisitions and Mergers : 2018, Dec – 2022, Aug) Leading Players
Chapter 4. Europe AI in Oil and Gas Market by Operation
4.1 Europe Upstream Market by Country
4.2 Europe Midstream Market by Country
4.3 Europe Downstream Market by Country
Chapter 5. Europe AI in Oil and Gas Market by Component
5.1 Europe Solution Market by Country
5.2 Europe Services Market by Country
Chapter 6. Europe AI in Oil and Gas Market by Country
6.1 Germany AI in Oil and Gas Market
6.1.1 Germany AI in Oil and Gas Market by Operation
6.1.2 Germany AI in Oil and Gas Market by Component
6.2 UK AI in Oil and Gas Market
6.2.1 UK AI in Oil and Gas Market by Operation
6.2.2 UK AI in Oil and Gas Market by Component
6.3 France AI in Oil and Gas Market
6.3.1 France AI in Oil and Gas Market by Operation
6.3.2 France AI in Oil and Gas Market by Component
6.4 Russia AI in Oil and Gas Market
6.4.1 Russia AI in Oil and Gas Market by Operation
6.4.2 Russia AI in Oil and Gas Market by Component
6.5 Spain AI in Oil and Gas Market
6.5.1 Spain AI in Oil and Gas Market by Operation
6.5.2 Spain AI in Oil and Gas Market by Component
6.6 Italy AI in Oil and Gas Market
6.6.1 Italy AI in Oil and Gas Market by Operation
6.6.2 Italy AI in Oil and Gas Market by Component
6.7 Rest of Europe AI in Oil and Gas Market
6.7.1 Rest of Europe AI in Oil and Gas Market by Operation
6.7.2 Rest of Europe AI in Oil and Gas Market by Component
Chapter 7. Company Profiles
7.1 Microsoft Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Acquisition and Mergers:
7.1.6 SWOT Analysis
7.2 Oracle Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Product Launches and Product Expansions:
7.2.6 SWOT Analysis
7.3 Intel Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Acquisition and Mergers:
7.3.5.2 Geographical Expansions:
7.3.6 SWOT Analysis
7.4 IBM Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.5.2 Product Launches and Product Expansions:
7.4.5.3 Acquisition and Mergers:
7.4.6 SWOT Analysis
7.5 Cisco Systems, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Acquisition and Mergers:
7.5.6 SWOT Analysis
7.6 Accenture PLC
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Product Launches and Product Expansions:
7.6.5.3 Acquisition and Mergers:
7.6.6 SWOT Analysis
7.7 NVIDIA Corporation
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.7.5.2 Product Launches and Product Expansions:
7.7.6 SWOT Analysis
7.8 Cloudera, Inc.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental Analysis
7.8.4 Research & Development Expense
7.8.5 Recent strategies and developments:
7.8.5.1 Partnerships, Collaborations, and Agreements:
7.9 C3.ai, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Regional Analysis
7.9.4 Research & Development Expenses
7.9.5 Recent strategies and developments:
7.9.5.1 Partnerships, Collaborations, and Agreements:
7.9.5.2 Acquisition, Joint Venture and Mergers:
7.10. FuGenX Technologies (USM Business Systems, Inc.)
7.10.1 Company Overview
TABLE 1 Europe AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 2 Europe AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– AI in Oil and Gas Market
TABLE 4 Product Launches And Product Expansions– AI in Oil and Gas Market
TABLE 5 Acquisition and Mergers– AI in Oil and Gas Market
TABLE 6 Europe AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 7 Europe AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 8 Europe Upstream Market by Country, 2018 - 2021, USD Million
TABLE 9 Europe Upstream Market by Country, 2022 - 2028, USD Million
TABLE 10 Europe Midstream Market by Country, 2018 - 2021, USD Million
TABLE 11 Europe Midstream Market by Country, 2022 - 2028, USD Million
TABLE 12 Europe Downstream Market by Country, 2018 - 2021, USD Million
TABLE 13 Europe Downstream Market by Country, 2022 - 2028, USD Million
TABLE 14 Europe AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 15 Europe AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 16 Europe Solution Market by Country, 2018 - 2021, USD Million
TABLE 17 Europe Solution Market by Country, 2022 - 2028, USD Million
TABLE 18 Europe Services Market by Country, 2018 - 2021, USD Million
TABLE 19 Europe Services Market by Country, 2022 - 2028, USD Million
TABLE 20 Europe AI in Oil and Gas Market by Country, 2018 - 2021, USD Million
TABLE 21 Europe AI in Oil and Gas Market by Country, 2022 - 2028, USD Million
TABLE 22 Germany AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 23 Germany AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 24 Germany AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 25 Germany AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 26 Germany AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 27 Germany AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 28 UK AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 29 UK AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 30 UK AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 31 UK AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 32 UK AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 33 UK AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 34 France AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 35 France AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 36 France AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 37 France AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 38 France AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 39 France AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 40 Russia AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 41 Russia AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 42 Russia AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 43 Russia AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 44 Russia AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 45 Russia AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 46 Spain AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 47 Spain AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 48 Spain AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 49 Spain AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 50 Spain AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 51 Spain AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 52 Italy AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 53 Italy AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 54 Italy AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 55 Italy AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 56 Italy AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 57 Italy AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 58 Rest of Europe AI in Oil and Gas Market, 2018 - 2021, USD Million
TABLE 59 Rest of Europe AI in Oil and Gas Market, 2022 - 2028, USD Million
TABLE 60 Rest of Europe AI in Oil and Gas Market by Operation, 2018 - 2021, USD Million
TABLE 61 Rest of Europe AI in Oil and Gas Market by Operation, 2022 - 2028, USD Million
TABLE 62 Rest of Europe AI in Oil and Gas Market by Component, 2018 - 2021, USD Million
TABLE 63 Rest of Europe AI in Oil and Gas Market by Component, 2022 - 2028, USD Million
TABLE 64 key information – Microsoft Corporation
TABLE 65 Key Information – Oracle Corporation
TABLE 66 Key Information – Intel Corporation
TABLE 67 Key information – IBM Corporation
TABLE 68 Key Information – Cisco Systems, Inc.
TABLE 69 Key information – Accenture PLC
TABLE 70 Key Information – NVIDIA Corporation
TABLE 71 Key Information – Cloudera, Inc.
TABLE 72 Key Information – C3.ai, Inc.
TABLE 73 Key Information – FuGenX Technologies
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2018, Jan – 2022, Jun) Leading Players
FIG 6 Key Strategic Move: (Acquisitions and Mergers : 2018, dec – 2022, Aug) Leading Players
FIG 7 Recent strategies and developments: Microsoft Corporation
FIG 8 SWOT Analysis: Microsoft Corporation
FIG 9 SWOT analysis: Oracle Corporation
FIG 10 Recent strategies and developments: Intel Corporation
FIG 11 SWOT analysis: Intel corporation
FIG 12 Recent strategies and developments: IBM Corporation
FIG 13 Swot analysis: IBM Corporation
FIG 14 SWOT Analysis: Cisco Systems, Inc.
FIG 15 Recent strategies and developments: Accenture PLC
FIG 16 Swot analysis: Accenture plc
FIG 17 Recent strategies and developments: NVIDIA Corporation
FIG 18 SWOT Analysis: NVIDIA Corporation
FIG 19 Recent strategies and developments: C3.ai, Inc.