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Others The low interest rates on fuels and gases in developed regions are another major factor providing boost to the market growth. Over the years, global oil and gas market has observed some significant developments in terms of technology on global level. Many big companies in the oil and gas industry are looking up to adopting technologies like artificial intelligence (AI) and big data analytics in order to drive profits by improving decisions making abilities. The players in the market collect massive amounts of raw data functioning of pipelines, refineries, and other infrastructure with the help of wide numbers of sensors situated across the oil rig. By adoption of these technologies in companies they are able to detect patterns that act upon the potential defects or unwanted changes thus saving costs. Also the AI helps companies to take better operational and drilling decisions which in turn are boosting the growth of the oil and gas market across the globe.

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