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May 4, 2022

Digital technologies are transforming oil and gas operations

Nowadays, an increasing number of oil and gas companies are upgrading their assets with digital technologies.

By GlobalData Energy

GlobalData’s latest thematic report, ‘Digitalization in Oil & Gas’, provides an overview of the adoption of digital technologies, such as artificial intelligence (AI), big data, Cloud computing, cybersecurity, the internet of things (IoT) and robotics, in the oil and gas industry. It also analyses the impact of digitalisation on the oil and gas value chain.

Free Report
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Determine the future strategies for IoT in Oil & Gas

he declining cost of IoT hardware makes digitalization an attractive option for energy companies. The oil and gas industry is becoming a more enthusiastic adopter of digital technology as it struggles to cope with several significant trends. These include fluctuating oil prices, expanding sources of supply, and increasing regulatory requirements.  GlobalData’s IoT in Oil & Gas Thematic Research report provides you with an in-depth lens into the impact of IoT on the industry. We highlight both the challenges and opportunities associated with the innovative technology now, and in the future. Our report also covers: 
  • Major players and companies 
  • Market size and growth forecasts 
  • Case studies  
  • Sector scorecard 
According to GlobalData forecasts, global Internet of Things (IoT) revenue in the energy sector will reach $59 billion by 2025, up from $34 billion in 2019. IoT use cases in the sector show how instrumental digitalization is to the O&G sector.   Ensure your company is proactive in adapting strategies and processes to help you remain competitive. Download the full report to get ahead of the competition.  
by GlobalData
Enter your details here to receive your free Report.

Adoption of digital technologies in oil and gas was initially sporadic, with a focus on select critical equipment and workflows. Shortage of skilled technicians, concerns over data security and cost-benefit uncertainty for adapting ageing assets have previously hindered the adoption of digital technologies.

Nowadays, an increasing number of oil and gas companies are upgrading their assets with digital technologies for long-term gains. Increased use of AI, Cloud computing, IoT and robotics is likely to transform the industry and create a synchronised ecosystem to meet future energy demands.

These technologies can deliver actionable insights for an oil and gas asset and help companies reduce their capital and operating expenditures. Minimising equipment downtime, while enhancing operational performance will remain the key objective of digitalisation. There is also a growing emphasis among oil and gas producers on digitalising workflows to enhance operational visibility for improved decision making. Concepts, such as digital twins and predictive maintenance are increasingly being modified to suit the different use cases of the oil and gas value chain.

Digital Technologies Benefits Oil and Gas

Leading oil and gas players, such as BP, Chevron, ExxonMobil, Equinor, Shell and TotalEnergies, are increasingly collaborating with technology vendors in a bid to develop custom digital solutions that address their needs. Digital technologies are vastly improving the oil and gas industry by streamlining processes and opening up new frontiers for operations.

Related Companies

Free Report
img

Determine the future strategies for IoT in Oil & Gas

he declining cost of IoT hardware makes digitalization an attractive option for energy companies. The oil and gas industry is becoming a more enthusiastic adopter of digital technology as it struggles to cope with several significant trends. These include fluctuating oil prices, expanding sources of supply, and increasing regulatory requirements.  GlobalData’s IoT in Oil & Gas Thematic Research report provides you with an in-depth lens into the impact of IoT on the industry. We highlight both the challenges and opportunities associated with the innovative technology now, and in the future. Our report also covers: 
  • Major players and companies 
  • Market size and growth forecasts 
  • Case studies  
  • Sector scorecard 
According to GlobalData forecasts, global Internet of Things (IoT) revenue in the energy sector will reach $59 billion by 2025, up from $34 billion in 2019. IoT use cases in the sector show how instrumental digitalization is to the O&G sector.   Ensure your company is proactive in adapting strategies and processes to help you remain competitive. Download the full report to get ahead of the competition.  
by GlobalData
Enter your details here to receive your free Report.

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