Industrial Internet in Oil & Gas - Thematic Research
Industrial Internet in Oil & Gas - Thematic Research
The upstream sector is witnessing considerably more implementations of the Industrial Internet compared to other oil and gas sectors. This is driven by the need to reduce operational risks and maximizing returns from their assets through digitialisation. Industrial Internet has the potential to transform traditional processes and workflows and boost the technological capabilities of oil and gas firms.
This could help them achieve two primary objectives: firstly, companies would be able to overcome operational challenges while venturing into new frontiers in search of hydrocarbon resources; and secondly, Industrial Internet adoption will improve productivity and efficiency, thereby strengthening market competitiveness in a challenging environment.
In general, adoption of the Industrial Internet would make organizations more dynamic and adaptable to external factors. This concept is expected to play a central role in simulation and modelling of projects against different market scenarios, optimizing inventory levels, demand forecasting, decision support, and logistics optimization, and setting up long-term objectives for an organization.
Adoption of digital technologies has surged of late, largely as a reaction to the crash in crude oil prices. However, companies have been quite methodical in their approach to enable this transformation and ensuring maximum possible value can be derived through Industrial Internet implementations.
This is particularly evident in the case of digital twins, wherein companies have chosen fields that have recently entered into production or are on the verge, to allow for the integration of advanced sensors and connectivity with oilfield infrastructure for remote monitoring and analysis. To highlight one such instance, BP created a digital twin at the Claire Ridge project in the North Sea, which started producing oil in 2018. The company was assisted by WorleyParsons in the creation of a digital replica of the field.
The latest thematic report Industrial Internet in Oil & Gas - Thematic Research, reveals that the adoption of the Industrial Internet would enable companies in digitalizing oilfield operations and creating digital twins to reduce risks and optimize performance. This thematic research report identifies oil and gas companies, such as BP, Shell, Chevron, ExxonMobil, ConocoPhillips, Gazprom, Repsol, Equinor, Saudi Aramco, Sinopec, and ADNOC as the major players in the adoption of the Industrial Internet theme in the oil and gas industry. These companies are adeptly assisted by technology providers, such as Microsoft, IBM, Amazon, PTC, Cisco and Intel, which are gradually assuming leadership in delivering Industrial Internet solutions to the oil and gas industry.
Reasons to buy
- Overview of the Industrial Internet as a theme across various industries, with special focus on its impact on the oil and gas industry.
- Detailed analysis of the emerging use cases for the Industrial Internet across the oil and gas value chain.
- A brief overview of the major application areas for the Industrial Internet in the oil and gas industry.
- Understand the importance of adopting the Industrial Internet in oil and gas operations in achieving sustainability and competitiveness.
- Identify the key trends and applications for the Industrial Internet theme.
- A review of some of the case studies highlighting capabilities of the Industrial Internet in addressing business challenges across the oil and gas value chain.
- Identify and benchmark key oil and gas companies based on their exposure to the Industrial Internet theme.
- Table Figure 1: Who are the big players in the Industrial Internet and where do they sit in the value chain?
- Technology trends
- Macroeconomic trends
- Table Macroeconomic trends
- Regulatory trends
- Applications of the Industrial Internet in oil and gas
- Table Applications of the Industrial Internet in oil and gas
- Industry analysis
- What is the Industrial Internet?
- Table Figure 2: The Internet of Things has six market segments
- Table Figure 3: The Industrial Internet Loop
- Market size and growth forecasts
- Table Figure 4: By 2023, the Industrial Internet will be worth $145bn
- Table Figure 5: Asia Pacific will be the fastest growing region for the Industrial Internet
- Competitive analysis
- Industrial Internet use cases: the predictive maintenance opportunity
- Table Figure 6: Key use cases for the Industrial Internet
- Table Figure 7: Vendors and customers often differ over which use cases they value most
- Table Figure 8: Industrial Internet traction is being spurred by legislation in California
- The Industrial Internet standards dilemma
- Mergers and acquisitions
- Table Mergers and acquisitions
- Table The key Investments and Funding
- Table Figure 9: The story of the Industrial Internet so far…
- Impact of Industrial Internet on the oil and gas industry
- Upstream: hotbed for Industrial Internet adoption
- Midstream: prioritizing leak detection and asset monitoring
- Downstream: focus on enhancing plant utilization and operational safety
- Case studies
- Value chain
- Table Figure 10: The Industrial Internet value chain
- Device layer
- Table Figure 11: The Industrial Internet value chain: device layer
- Connectivity layer
- Table Figure 12: The Industrial Internet value chain: connectivity layer
- Data layer
- Table Figure 13: The Industrial Internet value chain: data layer
- App layer
- Table Figure 14: The Industrial Internet value chain: app layer
- Services layer
- Table Figure 15: The Industrial Internet value chain: services layer
- Companies section
- Public companies
- Private companies
- Oil and gas companies
- Table Oil and gas companies
- Technology briefing
- Smart sensors
- Edge computing
- Appendix: Our thematic research methodology
- Viewing the world's data by themes makes it easier to make important decisions
- Traditional research does a poor job of picking winners and losers
- That is why we developed our "thematic engine"
- How do we create our sector scorecards?
- Table Figure 16: Our five-step approach for generating a sector scorecard
- What is in our sector scorecards?
- How do we score companies in our thematic screen?
- How our research reports fit into our overall thematic research ecosystem
- About GlobalData
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