Global IoT in Oil and Gas Market is expected to grow at a CAGR of 23% during 2021-26

According to MarkNtel Advisors, the Global IoT in Oil and Gas Market is projected to grow at a CAGR of 23% during 2021-26. It owes to the constantly fluctuating crude oil prices, which surges the need for integrating IoT in oil & gas industries to effectively analyze data, precisely forecast their business prospects, and increase their profitability. Further, aging infrastructure and lack of skilled human power shall also provide lucrative growth opportunities to the market in the coming years.

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Market Segmentation
1. By Solution (Communication, Sensing, Data Management, Cloud and Edge Computing)
2. By Industry Stream (Upstream, Downstream, Midstream)
3. By Application (Preventive Maintenance, Pipeline & Equipment Monitoring, Fleet and Asset Management, Security Management, Asset Management, Others (Data Management and Hazardous Management))

Region-wise Segmentation
• North America: US, Canada, Mexico
• South America: Brazil, Argentina
• Europe: Germany, France, The UK, Italy, Spain
• Asia-Pacific: China, India, Japan, Australia
• Middle East & Africa: GCC, South Africa

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Key Growth Drivers
• the surging demand for enhancing the operational efficiency of the oil & gas industry to accomplish energy requirements
• the growing threats of cyber-attacks
• the decline in the availability of skilled labor in the oil and gas industry
• the mounting requirement of oil and gas companies to access real-time information across all locations leading to the increasing demand for integrating IoT in oil & gas industries,

Market Challenges
• Shortage of appropriate tools needed for computational analysis
• massive capital requirement

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Market Competitors:
Intel Corporation, Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation, Alphabet Inc., Cognizant, Siemens AG, Rockwell Automation Inc., General Electric Company, Wipro Limited, SAP SE, Cisco Systems, Inc., HCL Technologies Ltd., Telit Communications PLC, PTC Inc.

Key Questions Answered in this Report:
1. What are the current & future trends in the Global IoT in Oil and Gas Market?
2. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global IoT in Oil and Gas Market?
3. How has the industry been evolving in terms of geography & services adoption?
4. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
5. What are the key growth drivers & challenges for the Global IoT in Oil and Gas Market?
6. What are the customer orientation, purchase behavior, and expectations from providers of IoT in oil & gas industries across the globe?
7. What are the region-wise industry size, growth drivers, and challenges?
8. What are the key innovations, opportunities, current & future trends, and regulations in the Global IoT in Oil and Gas Market?
9. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global IoT in Oil and Gas Market based on a competitive benchmarking matrix?
10. What are the key results derived from the market surveys conducted during the Global IoT in Oil and Gas Market study?

MarkNtel Advisors
1147 88AVE, Delta, British Columbia, BC,V4C,3B8, CANADA
Email: sales@marknteladvisors.com
Tel: +1 604 800 2671
Website: https://www.marknteladvisors.com

About us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.