Fleet and Asset Management to Dominate North America IoT in Oil & Gas Market During Forecast Period
Increasing availability of wireless networks is expected to
drive the growth of North America IoT in oil & gas market
According to
TechSci Research report, “North America IoT in Oil and Gas Market By Industry Stream, By
Solution, By Application, Forecast & Opportunities, 2024”, the North America IoT in oil & gas market is expected
to grow at a steady rate during the forecast period owing to the increasing demand
for innovation and investment to meet & ease the cost, and optimize the
industries operations. Additionally, the adoption of IoT in oil & gas has
resulted in increased productivity and sustainability.
The North
America IoT in oil & gas market is segmented based on type, capacity,
application, company and country. Based on application, the market can be
fragmented into fleet & asset management, preventive maintenance, pipeline
monitoring, security monitoring and others. The fleet & asset management
segment is expected to dominate the market during forecast period since IoT
sensors can monitor key pipeline equipment more accurately and cost effectively.
Additionally, it can allow companies to survey potential drilling sites and
point out the exact location for a pump and filter replacement, thereby refining
the entire process..
C3 IoT, Inc., Cisco
Systems, Inc., Equinor US Holding Inc, ABB Ltd., General Electric Company,
Honeywell International Inc., Intel Corporation, International Business
Machines Corporation (IBM), Microsoft Corporation, Rockwell Automation Inc. and
others are some of the leading players operating in North America IoT in oil
& gas market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share.
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“The IoT in oil
& gas market in North America is expected to witness steady growth during
the forecast period on account of the high market penetration rate in the U.S., Mexico and
others. Additionally, the increasing adaptability of modern technologies and
the positive support from the government is further expected to propel the
market during forecast period in the region.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“North America IoT in Oil & Gas Market By
Industry Stream, By Solution, By Application, Forecast & Opportunities,
2024” has evaluated the future growth
potential of North America IoT in oil & gas market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers to
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in North America IoT in oil & gas market.
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