Dublin, Jan. 09, 2019 (GLOBE NEWSWIRE) -- The "Global IoT in Oil and Gas Market: Focus on Solutions, Applications, Industry Stream - Analysis and Forecast (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
Global IoT in Oil and Gas Market to Reach $39.40 Billion by 2023
The oil and gas industry operates in a volatile environment. Fluctuations in the oil prices and the digitization boom in the industry has driven the demand for innovation and investment to meet the cost, ease the cost, and optimize the industry's operations. The use of IoT can help streamline operations and help companies to enhance workflow and provide data useful in making decisions. Despite challenges in deploying IoT solutions, investment in innovation continues as oil and gas companies attempt to be more quick, efficient and productive while reducing costs.
IoT is helping the oil and gas companies in attaining global presence. Embedded sensors, automation and connectivity with data communications can gather and provide operational data from remote locations, which helps the sensor manufactures understand the operations in an accurate and detailed manner. IoT also removes physical barriers so that the companies can reach remote locations. The advantages of IoT technology for oil and gas are wide-ranging from equipment manufacturers to internet service providers. Adoption of IoT technology in the oil and gas industry results in increased productivity and sustainability. The shift towards the use of IoT in the oil and gas industry has been encouraged due to the falling cost of the sensors and the increasing availability of wireless network.
The IoT in oil and gas market research study offers a wide perspective on where the industry is heading to. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The report answers the following questions about the IoT in the oil and gas market:
The report further includes a thorough analysis of the impact of the Porter's five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the global IoT in oil and gas market by the players, research organizations, and government bodies.
Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific and Rest-of-the-World. Each region details the individual push-and-pull forces in addition to the key players from that region. Some of the prominent players in the Global IoT in oil and gas market are CISCO Systems Inc., IBM, Intel, C3IoT, Microsoft, ABB Ltd., and General Electric Company among others.
Key Topics Covered:
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing cyberattacks leveraging the spending on IoT in the oil and gas industry
1.1.2 Need of Increased Operational Efficiency
1.1.3 Scarcity of Skilled Labor
1.2 Market Restraints
1.2.1 Privacy and Security Concern
1.2.2 Obsolete Communication Infrastructure
1.3 Market Opportunities
1.3.1 Introduction of Next Generation Sensors, Edge Computing and Software in the Oil and Gas Industry
1.3.2 IoT based Smart Automation Using Drones in Oil and Gas Industry
1.3.3 Growth Opportunity in IoT Analytics Market
2 Competitive Landscape
2.1 Key Market Developments and Strategies
2.1.1 Partnership, Collaboration and Joint Venture
2.1.2 New Product Launch and Development
2.1.3 Business Expansion and Contract
2.1.4 Mergers and Acquisitions
2.1.5 Others (Awards and Recognition)
2.2 Leading Player Analysis
2.2.1 Leading Player Analysis of IoT Solution Providers in IoT in Oil and Gas Market
3 Industry Analysis
3.1 Industry Attractiveness
3.1.1 Threat of New Entrant
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat from Substitutes
3.1.5 Intensity of Competitive Rivalry
3.2 Key Venture Capital Investments
3.3 Emerging Trends in the IoT in Oil and Gas Market
3.4 Opportunity Matrix
3.5 Regulatory Bodies/Acts
3.6 Associations/Consortiums/Alliances
3.7 Privacy Laws Across Different Countries
3.8 Patent Filed by Key Companies
4 Global IoT in Oil and Gas Market, (by Industry Stream)
4.1 Assumptions and Limitations for Analysis and Forecast of the Global IoT in Oil and Gas Market
4.2 Upstream
4.3 Midstream
4.4 Downstream
5 Global IoT in Oil and Gas Market, (by Solutions)
5.1 Sensing Systems
5.2 Communication
5.3 Cloud and Edge Computing
5.4 Data Management
6 Global IoT in Oil and Gas Market, (by Application)
6.1 Fleet and Asset Management
6.2 Preventive Maintenance
6.3 Pipeline Monitoring
6.4 Security Management
6.5 Others
7 Global IoT Oil and Gas Market (by Region)
7.1 North America
7.2 Europe
7.3 Asia-Pacific
7.4 Rest of the world (RoW)
8 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/dz75vw/global_iot_in_oil?w=12
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