Report cover image

Thematic Intelligence - Digital Twins in Oil & Gas (2024)

Publisher GlobalData
Published Apr 30, 2024
Length 85 Pages
SKU # GBDT18798857

Description

Thematic Intelligence - Digital Twins in Oil & Gas (2024)


Summary

Digital twins are digital representations of physical assets, systems, people, or processes. They help detect, prevent, predict, and optimize the physical environment using artificial intelligence (AI), real-time analytics, visualization, and simulation tools. Its adoption is increasing across industries, although challenges around security and interoperability still need to be addressed.

Digital twins are rapidly becoming a mainstay in oil and gas operations as companies strive to optimize asset performance and minimize unplanned outages. This aims to make oil and gas operations relatively safer while lowering the carbon footprint and improving profitability. Although the major emphasis is on creating digital twins for upstream projects, companies are also deploying these tools within their midstream and downstream assets for remote monitoring and predictive maintenance, among other benefits.

Scope

This report evaluates the use of digital twins technology in the oil and gas industry.
It provides an overview of the competitive positions held by oil and gas companies, and technology vendors in the digital twins theme.
The report establishes a digital twins value chain and identifies key technology players across this value chain.
It analyzes market size of digital twins technology and present growth forecasts till 2030.
It also evaluates the market signals in terms of deals, patents and company filings related to digital twins technology.

Reasons to Buy

Identify recent technology, macroeconomic, regulatory, and industry trends in the digital twins theme.
Identify potential opportunities for oil and gas industry players in digital twins theme.
Provides use case scenarios for digital twins technology in oil and gas industry.
Identify and benchmark key oil and gas companies and their role in the digital twins theme.
Identify and benchmark key technology companies in the digital twins value chain.

Table of Contents

85 Pages
Executive Summary
Players
Technology Briefing
The forerunner to today’s digital twins
What are digital twins?
A single version of the truth
Data management
The evolution of digital twins
Challenges facing digital twins
Creating a common language
Standards and interoperability
Security
Data validation
Complexity and cost
The different types of digital twins
The maturity of digital twins
Trends
Technology trends
Macroeconomic trends
Regulatory trends
Industry trends
Industry Analysis
Market size and growth forecasts
Use cases
Manufacturing
Power
Oil and gas
Healthcare
Construction
Automotive
Aerospace and defense
Government
Sports
Timeline
Impact on the Oil and Gas Industry
Digital twins are driving cost reduction during hydrocarbon production
Midstream operators are optimizing performance with digital twins
Refiners are deploying digital twins to toggle with their end products
Digital twin has considerable potential beyond conventional oil and gas facilities
Signals
M&A trends
Venture financing trends
Patent trends
Company filing trends
Value Chain
Physical layer
Connected things
Cameras and lenses
Sensors and microcontrollers
Microprocessors
Connectivity layer
Edge infrastructure
Cloud infrastructure
Networking equipment
Telecom networks
Data layer
Data integration
Data aggregation
Data processing
Data storage
Data validation
Data governance and security
Platform layer
Delivery layer
Licensed software
Digital twin as a service
Services layer
Companies
Technology playcers
Oil and gas players
Sector Scorecards
Integrated oil and gas companies 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: The maturity of digital twins
Table 2: Technology trends
Table 3: Macroeconomic trends
Table 4: Regulatory trends
Table 5: Industry trends
Table 6: Digital twins in the manufacturing sector
Table 7: Digital twins in the power sector
Table 8: Digital twins in the oil and gas sector
Table 9: Digital twins in the healthcare sector
Table 10: Digital twins in the construction sector
Table 11: Digital twins in the automotive sector
Table 12: Digital twins in the aerospace and defense sector
Table 13: Digital twins in the government sector
Table 14: Digital twins in the sports sector
Table 15: Oil and gas companies and their digital twin vendors
Table 16: M&A trends
Table 17: Key venture financing deals associated with the digital twins theme since January 2022
Table 18: Oil and gas players
Table 19 Oil and gas players:
Table 20: Glossary
Table 21: GlobalData reports
List of Figures
Figure 1: Who are the leading players in the digital twins theme, and where do they sit in the value chain?
Figure 2: “Houston, we’ve had a problem.”
Figure 3: Digital twins create live virtual models of the real world
Figure 4: Digital twins have a hunger for data
Figure 5: The global digital twins market will be worth $154 billion by 2030
Figure 6: Digital twin use cases range in sophistication and visibility
Figure 7: Manufacturing operations are a key area for digital twins
Figure 8: Developing the world’s first digital twins for floating offshore wind turbines
Figure 9: BP and Chevron use digital twins to optimize assets
Figure 10: BP built a digital twin of the Azeri Central East field
Figure 11: NTT and Harvard are creating a digital twin of the heart
Figure 12: Digital twins offer a single source of the truth
Figure 13: Automotive companies are starting to exploit digital twins
Figure 14: Digital twins are transforming the aerospace industry
Figure 15: Singapore puts its Virtual Singapore digital twin to good use
Figure 16: Digital twins are being used to plan the 2024 Olympic Games
Figure 17: The digital twins story
Figure 18: Digital twin financing deal volume increased between 2019 and 2023
Figure 19: Digital twin patent publications have accelerated since 2016
Figure 20: Siemens, General Electric, and IBM lead the way in digital twins-related patents
Figure 21: Digital twin mentions in company filings across sectors grew significantly between 2016 and 2022
Figure 22: The digital twin value chain
Figure 23: The digital twins value chain - Physical layer: leaders and challengers
Figure 24: The digital twin value chain - Connectivity layer: leaders and challengers
Figure 25: The digital twin value chain - Data layer: leaders and challengers
Figure 26: The digital twins value chain - Platform layer: leaders and challengers
Figure 27: The digital twin value chain - Delivery layer: leaders and challengers
Figure 28: The digital twin value chain - Services layer: leaders and challengers
Figure 29: Who does what in the integrated oil and gas space?
Figure 30: Thematic screen
Figure 31: Valuation screen
Figure 32: Risk screen
Figure 33: Our five-step approach for generating a sector scorecard

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us