Strategic Intelligence: Internet of Things in Oil & Gas
Summary
The Internet of Things has served as the backbone of digital transformation in the oil and gas industry. By deploying IoT sensors across assets, companies can monitor equipment health, environmental conditions, and operational performance, leading to improved decision-making and efficiency.
IoT is the backbone of digital transformation in oil and gas > IoT has served as the backbone of digital transformation in the oil and gas industry. By deploying IoT sensors across assets, companies can monitor equipment health, environmental conditions, and operational performance, leading to improved decision-making and efficiency. Combining IoT with AI or automation enables the collection and analysis of data, facilitating predictive maintenance and uninterrupted operations across upstream, midstream, and downstream. Additionally, drones and autonomous robots equipped with IoT sensors can conduct inspections and maintenance tasks in hazardous environments without human intervention.
IoT is crucial for predictive maintenance > In the oil and gas industry, equipment faces constant threats from harsh conditions, particularly offshore, leading to safety hazards and costly downtime. IoT technology mitigates these risks by facilitating predictive maintenance, using sensors and smart meters to monitor critical machinery in real-time. This data enables companies to identify potential failures before they occur, optimizing maintenance schedules and extending equipment lifespan. IoT also allows for remote monitoring, which is crucial for accessing hard-to-reach offshore assets.
Harnessing IoT for emission reduction > Pressure is mounting for oil and gas companies to decarbonize and report progress toward net-zero emissions targets. With production, processing, and refinement still highly profitable, technology will be the sector’s biggest ally. IoT technology in particular is crucial for monitoring and managing emissions. Sensors provide real-time data, enabling companies to identify inefficiencies and leaks, especially methane. Additionally, IoT helps to minimize fugitive emissions and emissions resulting from preventable accidents, enhance operational efficiency, and support decarbonization goals while ensuring compliance with environmental regulations.
Key Highlights
- IoT has served as the backbone of digital transformation in the oil and gas industry. By deploying IoT sensors across assets, companies can monitor equipment health, environmental conditions, and operational performance, leading to improved decision-making and efficiency.
- In the oil and gas industry, equipment faces constant threats from harsh conditions, particularly offshore, leading to safety hazards and costly downtime. IoT technology mitigates these risks by facilitating predictive maintenance, using sensors and smart meters to monitor critical machinery in real-time.
- Pressure is mounting for oil and gas companies to decarbonize and report progress toward net-zero emissions targets. With production, processing, and refinement still highly profitable, technology will be the sector’s biggest ally. IoT technology in particular is crucial for monitoring and managing emissions.
This report provides a comprehensive analysis of the Internet of Things in the oil and gas industry including -
- How IoT will solve three key oil and gas industry challenges
- Which segments of the IoT value chain companies across the oil and gas industry value chain should invest in, explore, and ignore
- Leading adopters and specialist vendors of IoT technologies in the oil and gas industry
- Case studies
- M&A, hiring, and company filing trends
- A thematic scorecard ranking major oil and gas companies in the future of work
- GlobalData's strategic intelligence 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.
- This report is essential reading for senior executives to understand how the oil and gas industry will be transformed by IoT, ensuring your company does not get left behind.
- Executive Summary
- Players
- Value Chain
- The Impact of IoT on Oil and Gas
- How IoT helps tackle the challenge of maintaining high-tech equipment
- How IoT helps tackle the challenge of reducing greenhouse gas emissions
- How IoT helps tackle the challenge of health and safety
- Case Studies
- Epicore’s Connected Hydration patch alerts workers when they are dehydrated
- NevadaNano’s MethaneTrack system monitors gas leaks
- Gecko Robotics’ wall-climbing robots enable predictive maintenance
- The IoT Timeline
- Companies
- Leading IoT adopters in oil and gas
- Specialist IoT vendors in oil and gas
- Sector Scorecard
- Integrated oil and gas sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- ,Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Leading IoT adopters in oil and gas
- Table 2: Specialist IoT vendors in oil and gas
- Table 3: Glossary
- Table 4: GlobalData reports
- List of Figures
- Figure 1: Key players in the IoT theme
- Figure 2: The IoT value chain
- Figure 3: Thematic investment matrix
- Figure 4: Mentions of IoT in the oil and gas industry peaked in 2021
- Figure 5: Chevron workers wearing Epicore’s Connected Hydration patch
- Figure 6: NevadaNano’s MethaneTrack sensors
- Figure 7: Gecko Robotics’ wall-climbing robot
- Figure 8: The IoT story
- Figure 9: Who does what in the integrated oil and gas space?
- Figure 10: Thematic screen
- Figure 11: Valuation screen
- Figure 12: Risk screen
- Figure 13: Our five-step approach for generating a sector scorecard
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