Global Internet of Things (IOT) In Oil and Gas Market is projected to grow at a CAGR of +25% by 2022 according new research

Global Internet of Things (IOT) In Oil and Gas (O&G) Market report provides in-depth analysis of key development strategies and market trends. This includes drivers, challenges, and opportunities that are prevalent in both industries. In addition, value chain analysis, consortia and patents were also included in the report. Major development strategies adopted by IoT solution providers, distributors and service providers are also included in this report. Due to regulatory compliance requirements that are expected to drive the use of IoT solutions, key regulations on the oil and gas industry have been considered in the report.

Global Internet of Things (IOT) In Oil and Gas (O&G) Market is projected to Grow at a CAGR of +25% according To new research. This is mainly due to the lack of skilled labor, increased cyber-attacks, aging infrastructure and the need to improve operational efficiency and is expected to be a key driver for growth in this market.

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The adoption of IoT solutions is in the early stages of the oil and gas industry. Therefore, IoT in oil and gas market forecasts is built on detailed assumptions and limitations. The market is estimated based on usage and geographical analysis in various types of IoT solutions, in various applications in the oil and gas industry.
The Major players reported in the market include: ABB Ltd., AGT International, C3 IoT, Carriots S.L., Cisco Systems, Davra Networks, Eurotech SpA, General Electric Company, Honeywell International Inc., Intel Corporation, International Business Machines Corporation, Kore Telematics, Microsoft Corporation, Numerex Corp., Parametric Technology (PTC), Pertex Management and Technology Consulting LLC, SAP SE, Schneider Electric, Siemens AG

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Crude oil and gas prices are constantly changing because the oil and gas industry is currently facing a difficult environment. O & G companies need to improve operational efficiency across all other value chain segments to accurately predict future business plans and improve profitability. This has led to the adoption of the IoT solution in the oil and gas industry. In addition, factors such as aging infrastructure and workforce will be the main causes of increased IoT usage.

This report provides a detailed and analytical look at the various companies seeking to gain a high share of the global market. To this end, the report includes a section dedicated to company profiles. Profiling of key competitors is done to determine the current competitive scenario.

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