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Internet of Things Report, Oil & Gas Technology Report

Internet of Things in Oil & Gas - Thematic Research

The Internet of Things will impact every industry

The “Internet of Things” (IoT) refers to a world where various devices are connected to the internet with the aim to automate more of our lives, save energy, make industrial processes run more efficiently, etc. It is difficult to predict any long-term winners or losers, due to still being in the early stages of the technology cycles.

  • What you need to know...
  • IoT is becoming the next cloud battleground. Amazon, Google, Microsoft, Alibaba and IBM are competing with each other to provide the cloud infrastructure that will connect and run the world’s connected things.
  • Cyberattacks remain a significant risk of inventors in industrial IoT.
  • The O&G industry is perhaps the most asset-intensive one, and every newly added wellhead, pump and compressor raises a company’s operational risk.
  • Technological shifts in the oil and gas industry have led the transformation of this sector in the past few years.

IoT is changing the face

Oil prices have traversed a period of low prices and the financial strain has forced oil and gas 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.

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