IoT in Oil and Gas Market: 3 Bold Projections for 2022 | Emerging Players Alphabet, Analog Device, Broadcom, ABB Ltd

A new 243 page research study released with title 'IoT in Oil and Gas Market: Current Analysis and Forecast (2022E-2027F)' provides detailed qualitative and quantitative research to better analyze latest market scenario and staged competition. The study not just covers geographic analysis that includes regions like North America, Southeast Asia, Europe, APAC but also players analysis with profile such as ABB Ltd., Alphabet Inc., Amazon Web Services, Inc., Analog Device, Inc., BP p.l.c., Broadcom Inc., C3 IoT, Inc., CISCO Systems Inc., Cognizant, etc.

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Summary
Global IoT in oil and gas market expected to grow at a CAGR of around 22% during the forecast period (2022E-2027F). IoT in oil and gas industry caters considerable demand across the globe and expected to have an influential market growth in the forecasted period. It is mainly owing to the factors such as Internet of Things (IoT), as a system integrator, helps in accumulating the complete oil and gas value chain within a single operating platform, addressing specific client-centric challenges, along with an improvement in overall performance.

In addition to this, the increasing threat of cyber-attacks and the decline in the availability of skilled labor in the oil and gas industry are other major factors fueling the market growth. Moreover, implementation of IoT devices increases operational productivity, hence reduces operation risk, and improve intelligence and develop higher yield in labor and time-effective manner.
The coronavirus pandemic declared as public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain.

However, during covid-19 outbreak IoT has aided the need for technological developments and new applications within different end-use verticals. Moreover, due to the spread of disease, the demand for integrating IoT in oil & gas industries witnessed tremendous growth to enhance operational efficiency. Further, the spread of the pandemic resulted in a declining number of working staff. Hence, the demand for IoT in oil and gas increased significantly to manage communication between physical objects of the industry and improve their efficiency.
ABB Ltd., Alphabet Inc., Amazon Web Services, Inc., Analog Device, Inc., BP p.l.c., Broadcom Inc., C3 IoT, Inc., CISCO Systems Inc., Cognizant, ENGIE. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst solution, data management segment holds the major share"

Based on solution, the IoT in oil and gas market is segmented into sensing, communication, cloud and edge computing and data management. The data management segment catered significant demand in IoT in oil and gas market. Data management through IoT enables users to refine massive data into essential information and helps the user track, monitor, and manage the devices efficiently, thereby augmenting the segment growth.
"Amongst industry stream, upstream segment holds the major share"

Based on industry stream, the IoT in oil and gas market is classified into upstream, midstream and downstream. The upstream segment holds the considerable market share in IoT in oil and gas market. IoT technologies in upstream sector simplify and make many processes more controllable within companies, as well as increasing the level of security of enterprises.
"Amongst application, fleet and asset management segment holds the major share"

Based on application, the IoT in oil and gas market is segmented into fleet and asset management, preventive maintenance, pipeline monitoring, security management and others. The fleet and asset segment hold the extensive market share in IoT in oil and gas market. Asset management require for accurate day-to-day operational processes insights in oil and gas industry and machinery connected with IoT devices predict when they require maintenance, so the repairs can be scheduled long before their breakdowns to prevent long downtimes and ensure the safety of the employees.
"North America represents one of the extensive market shares of global IoT in oil and gas Market"
For a better understanding of the market dynamics of the global IoT in oil and gas market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, and Rest of the World. North America holds the extensive market share owing to the to a surging production rate of unconventional energy sources, including oil and gas.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
Global IoT in oil and gas market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency used in Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the IoT in Oil and Gas Market
2.2. Research Methodology of the IoT in Oil and Gas Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the IoT in Oil

....Continued

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