Artificial Intelligence (AI) in Oil And Gas Market Research 2024-2029: Advanced Solutions for Drilling, Extraction, and Decision-Making - Focus on Automation, Safety, and Predictive Analyt...
Microsoft Corporation (MSFT)
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Source: Yahoo! Finance
Gas Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering. The AI in the oil and gas market is projected to witness a CAGR of 23.12% during the forecast period to reach a total market size of US$15.010 billion by 2029, up from US$5.305 billion in 2024. The oil and gas industry is one of the most vital sectors in the global economy, and implementing AI in this business can eliminate major challenges in different operations processes. From maintaining safety to relocating the extraction process, these AI solutions can change how oil drilling operates to leave less scope for human risk factors and improve the activity's production. The utilization of AI in the oil and gas industry helps in locating, extracting, and forecasting new or current reserves. It also aids in developing and enhancing tools and equipment software, such as automated drilling machine operation software, as well as the automation of crude oil production and extraction
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