Market Size – USD 3.82 Billion in 2020, Market Growth – at a CAGR of 23.6%, Market Trends – Increasing adoption of Artificial Intelligence in oil & gas industries
The Global Artificial Intelligence in Energy Market is expected to reach a market size of USD 20.83 Billion at a steady CAGR of 23.6% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing need to obtain operational efficiency to meet energy requirements. Digitalization of the energy sector is contributing to increasing demand for Artificial Intelligence in energy systems.
Increasing need to obtain operational efficiency to meet energy requirements are key factors driving global Artificial Intelligence in energy market growth.
Adoption of Artificial Intelligence solutions among oilfield services providers and operators has been increasing and is driving deployment of Artificial Intelligence solutions in oil & gas industries. Rising need to identify improper threading in pipelines or defects in error-prone mechanisms is driving utilization of Artificial Intelligence-powered defect detection solutions in oil & gas industries.
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Key Highlights of Report
Emergen Research has segmented the global Artificial Intelligence in energy market on the basis of product offering, industry stream, application, and region:
Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Artificial Intelligence in Energy Market , emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years.
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Finally, all aspects of the Artificial Intelligence in Energy market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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