Augmented Reality (AR) in Oil and Gas – Thematic Intelligence

Augmented Reality (AR) in Oil and Gas Thematic Report Overview

Augmented reality (AR) can improve health and safety for the oil and gas industry by improving working conditions for technicians in remote and hazardous locations. Although AR remains an emerging technology, it can potentially limit risk factors in machine maintenance. It can facilitate immersive health and safety training, providing realistic, engaging, and risk-free learning experiences for technicians before they go into the field. In emergencies, headsets in combination with AI can assist workers by guiding those with injuries to emergency exits or facilitating the administration of first aid.

The ‘augmented reality (AR) in oil and gas’ thematic intelligence report gives an in-depth insight into the augmented reality theme and how it will impact the oil and gas sector. It further entails a deep-dive analysis of the industry, including real-life use case studies that showcase how the oil and gas sector has responded to the impact of this theme on their operations. The report also identifies the key market trends that will shape the AR theme over the coming years and gives an insight into the market players and the competitive landscape within the theme.

Augmented Reality - Value Chain Analysis

The augmented reality value chain consists of the semiconductors, components, devices, platforms, and apps & content.

Apps & Content: Content is a major area of concern for AR companies. Gaming is a fertile ground for AR but gaming companies struggle to create novel content. Meanwhile, general apps (e.g., maps), e-commerce (e.g., furniture and cosmetic try-ons), and social media (e.g., Snapchat and Instagram filters) are fast becoming growth avenues.

Media houses and e-commerce companies have been early adopters of AR, while healthcare, engineering, and military organizations also use the technology. Microsoft and PTC among others are investing in AR development platforms to support firms through the AR implementation process. Start-ups such as Re’flekt, Scope AR, and Atheer have also joined the race.

Augmented Reality Value Chain Analysis

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Augmented Reality (AR) in Oil and Gas - Leading Companies

A few of the leading oil and gas companies currently deploying AR include:

• Chevron
• China National Petroleum Corporation (CNPC)
• Exxon Mobil
• Royal Dutch Shell
• Saudi Aramco

 A few of the leading augmented reality vendors are:

• Alibaba
• Alphabet (parent company of Google)
• Amazon
• Apple
• ByteDance
• Others

A few of the specialist augmented reality vendors in oil and gas are:

• Argis Solutions
• Fugro
• Kognitiv Spark
• Librestream
• RealWear
• Others

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Integrated Oil and Gas Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our power sector scorecard has three screens: A thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.

• The risk screen ranks companies within a particular sector based on overall investment risk.

Integrated Oil And Gas Sector Scorecard – Thematic Screen

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Scope

• The report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. It further predicts how each theme will evolve and identify the leading and disrupting companies.
• The report covers the augmented reality theme and its current and future impact on the oil and gas sector.

Key Highlights

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. According to GlobalData forecasts, the AR market will be worth $100 billion by 2030, up from $22 billion in 2022. AR software will generate most of this revenue, with limited spending on AR headsets and AR smart glasses.

AR is improving health and safety in the oil and gas sector. Working conditions for technicians in remote and hazardous locations are a prominent challenge for the oil and gas industry. AR remains an emerging technology with limited adoption, but it could limit risk factors in machine maintenance. AR could also facilitate immersive health and safety training, providing realistic, engaging, and risk-free learning experiences for technicians before they go into the field. In emergencies, AR headsets combined with AI could assist workers by guiding those with injuries to emergency exits or facilitating the administration of first aid. They can also provide live data feeds from connected devices and use them to give advanced warnings of potentially hazardous situations.

Reasons to Buy

• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying important themes early, enabling companies to make the right investments ahead of the competition and secure that all-important competitive advantage.
• The report assists in developing and designing your corporate strategies through an in-house expert analysis of augmented reality by understanding the primary ways in which this theme is impacting the oil and gas industry.
• The report provides up to date on the industry’s major players and where they sit in the value chain.
• The report identifies emerging industry trends to gain a competitive advantage..