AI in Oil & Gas Market to exceed 2.85 Billion by 2022
The global AI in Oil & Gas Market is expected to grow from an estimated USD 1.57 Billion in 2017 to USD 2.85 Billion by 2022, at a CAGR of 12.66%, from 2017 to 2022. This growth can be attributed to the factors such as rising adoption of the big data technology, digitalization of the Oil & Gas industry, investments in AI-related start-ups, and rising pressure to reduce production...
Artificial Intelligence Predicted to Shape the Future of Oil & Gas Market in the Coming Years
Oil & gas are the most valued commodities in the whole of the energy sector. Over the past decade, the use of technology in the oil & gas industry has witnessed an immense growth, mainly to enhance efficiency, reduce costs, and minimize the downtime. Owing to the increasing concerns over the impact of energy production on the environment, the oil & gas companies are actively adopting innovative...