Press release
Internet of Things in Oil & Gas Market Size, Competitive Analysis, Growth and Forecasts
Imagine a world where your home thermostat automatically lowers the temperature when you leave the house and raises it the moment you return. The Internet of Things (IoT) refers to a world where various devices are connected to the internet with a view to automating more of our lives, saving energy, making industrial processes run more efficiently, etc.
Oil prices have traversed a period of low prices and the financial strain has forced Oil and Gas (O&G) companies to implement innovative ways to lower costs and deploy investment efficiently. The typical approach is to stay ahead of the curve through cutbacks on operational expenses and labor. In recent years, O&G companies have been pressed to utilize advancing technologies and innovative business models.
The implementation of IoT on a wider scale has undoubtedly caught the attention of numerous O&G companies. IoT is a technology that provides O&G companies with an opportunity to drive operational efficiencies in a low oil price environment. Due to the flexibility of IoT, there is an array of applications being utilized across the sector, including predictive maintenance at remote sites, risk detection in oil pipelines, detection of behavioral anomalies, and rig diagnostics bots, among many more.
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For example, Shell Nigeria implemented such a system, connecting oil field devices and equipment such as wellhead monitoring and pipeline surveillance within the Niger Delta, and captured remote field data that was analyzed and used to form actionable insights. From the use of cheap sensors, valuable information regarding pipeline pressures, flow rates, and temperatures was captured. Shell was able to save over $1 million in a short space of time thanks to a relatively modest IT investment.
We are still early in this technology cycle. As yet, there are no common standards, so it is difficult to predict any long-term winners and losers. However, executives need to understand the Internet of Things because it will soon morph into a mega theme. The report “Internet of Things in Oil & Gas – Thematic Research”, offers a framework in which to look at IoT, summarizes the important trends, and identifies the key players.
Companies Mentioned: Akamai, Amazon, Apple, ARM, Atmel, AlertMe, Arqiva, Arrayent, August, Ayla Networks, BP, Balyo, Belkin, BigBelly, Broadcom, Chevron, Canary, CalAmp, Cisco, DroneShield, Electric Imp, Evrythng, Ericsson, Fitbit, F5 Networks, General, Electric (GE), Google, IBM, Infoblox, Intel, Libelium, Microchip, Microsoft, Neul, NXP/Freescale, Nordic Semiconductor, Oort, Qualcomm, Saudi Aramco, Schlumberger, Shell, Statoil, Samsung, SAP, Software AG, Splunk, Total S.A., Tado, Thingsquare
Scope
This report is part of our ecosystem of thematic investment research reports, supported by our thematic engine. About our Thematic Research Ecosystem –
– GlobalData has developed a unique thematic methodology for valuing technology, media and telecom companies based on their relative strength in the big investment themes that are impacting their industry. Whilst most investment research is underpinned by backwards looking company valuation models, GlobalDatas thematic methodology identifies which companies are best placed to succeed in a future filled with multiple disruptive threats. To do this, GlobalData tracks the performance of the top 600 technology, media and telecom stocks against the 50 most important themes driving their earnings, generating 30,000 thematic scores. The algorithms in GlobalDatas thematic engine help to clearly identify the winners and losers within the TMT sector. Our 600 TMT stocks are categorised into 18 sectors. Each sector scorecard has a thematic screen, a risk screen and a valuation screen. Our thematic research ecosystem has a three-tiered reporting structure: single theme, multi-theme and sector scorecard. This report is a Multi-Theme report, covering all stocks, all sectors and all themes, giving readers a strong sense of how everything fits together and how conflicting themes might interact with one another.
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Reasons to buy
– Our thematic investment research product, supported by our thematic engine, is aimed at senior (C-Suite) executives in the corporate world as well as institutional investors.
– Corporations: Helps CEOs in all industries understand the disruptive threats to their competitive landscape
– Investors: Helps fund managers focus their time on the most interesting investment opportunities in global TMT.
– Our unique differentiator, compared to all our rival thematic research houses, is that our thematic engine has a proven track record of predicting winners and losers.
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