Selbyville, Delaware, Jan. 28, 2025 (GLOBE NEWSWIRE) --
The AI & ML in oil & gas market valuation is predicted to surpass USD 4.9 billion by 2034, reported in a research analysis by Global Market Insights Inc.
This growth is largely driven by the increasing focus on digital transformation, the need for enhanced operational efficiency, and the rising importance of predictive analytics. Companies are leveraging artificial intelligence and machine learning technologies to optimize processes, reduce costs, and improve decision-making across various operations in the AI & ML in oil & gas market.
The adoption of AI and ML is reshaping the oil and gas sector, delivering significant benefits in efficiency, cost management, and safety compliance. These technologies play a critical role in ensuring better operational performance, heightened safety standards, and stronger environmental compliance, making them indispensable for modern oil and gas operations.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/12453
The AI & ML in oil & gas market from the upstream segment valued at over USD 1 billion in 2024, is experiencing rapid growth due to the integration of AI-driven solutions for seismic interpretation, well planning, and production optimization. These advancements enable real-time decision-making, leading to higher efficiency and reduced downtime in exploration and production processes.
The market is further bolstered by the growing demand for advanced analytics, which is essential for extracting actionable insights from large datasets, including geospatial, seismic, and operational information. By utilizing these insights, companies can enhance exploration, drilling, production, and maintenance activities, resulting in improved decision-making and minimized downtime. The oil and gas analytics market is also on the rise, with expected revenue of approximately USD 33 billion by 2030, reflecting an annual growth rate of over 20%.
The application scope of AI and ML in the oil and gas market spans areas such as exploration and production (E&P) optimization, reservoir management, drilling optimization, asset monitoring, pipeline monitoring, and supply chain optimization. The E&P optimization segment is anticipated to grow at a CAGR of over 5% during the forecast period, driven by AI-powered technologies that improve resource identification, enhance performance, and lower operational risks.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/12453
Regionally, North America dominated the AI & ML in oil & gas market in 2024, accounting for 30% of the revenue share. The region’s well-developed energy sector and substantial investments in digital solutions have accelerated the adoption of AI technologies, particularly in predictive maintenance, drilling optimization, and reservoir management, all of which prioritize cost efficiency and sustainability.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2034
Chapter 3 AI & ML in Oil & Gas Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Technology providers
3.2.2 Platform providers
3.2.3 Oil & gas operators
3.2.4 Distributors
3.2.5 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Regulatory landscape
3.7 Used cases
3.7.1 Used case 1
3.7.1.1 Benefits
3.7.1.2 ROI
3.7.2 Used case 2
3.7.2.1 Benefits
3.7.2.2 ROI
3.8 Case study
3.8.1 Case study 1
3.8.1.1 Consumer name
3.8.1.2 Challenge
3.8.1.3 Solution
3.8.1.4 Impact
3.8.2 Case study 2
3.8.2.1 Consumer name
3.8.2.2 Challenge
3.8.2.3 Solution
3.8.2.4 Impact
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Rising demand for operational efficiency
3.9.1.2 Growing adoption of predictive maintenance
3.9.1.3 Increasing focus on data-driven decision making
3.9.1.4 Rising investment in digital transformation
3.9.2 Industry pitfalls & challenges
3.9.2.1 Data quality and integration challenges
3.9.2.2 Skilled workforce shortage
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Browse Related Reports:
Legal AI Market Size - By Deployment Model, By Technology, By Application, By End Use, Analysis, Share, Growth Forecast, 2025 – 2034
https://www.gminsights.com/industry-analysis/legal-ai-market
AI in Manufacturing Market Size By Component, By Deployment Model, By Technology, By Application, By End Use, Growth Forecast 2025 – 2034
https://www.gminsights.com/industry-analysis/artificial-intelligence-ai-in-manufacturing-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
