North America IoT in Oil & Gas Market was valued at USD7.30 billion in 2021 and is anticipated to project a robust growth in the forecast period with a CAGR of 12.16% owing to growing trend for smart industry, vehicle tracking and route control in real time in North America’s oil & gas market.

In the oil and gas business, the Internet of Things (IoT) is a network of physical things that are connected to the Internet. The Internet of Things (IoT) aids in the monitoring of the pipeline system and its components, such as pipes, pumps, and filters. Without IoT, firms must rely on human resources to do basic checks and maintenance on a regular basis. Several advantages of using IoT in the oil and gas industry are efficient management of employees, pipeline monitoring, risk mitigation, reduction in drilling operation's carbon footprint, etc. North America IoT in Oil & Gas Market is further classified on the basis of Industry Steam, including Upstream, Downstream, Midstream.

Growing Trend for Smart Industry Driving Market Growth

The smart industry, which can combine data from system-wide physical, operational, and human assets to drive inventory tracking, manufacturing, maintenance, and digitalization of operations via the digital twin and other sorts of activities across the whole industrial network, is the new frontline. Similarly, increased sensor usage in the oil and gas business, from drilling and exploration to downstream retail sales and software integration of the entire value chain, can help this industry become smart. The rise of IoT in the oil and gas industry in North America is expected to be fueled by the growing demand for smart industries.

Increasing Demand for Pipeline Asset Management

Oil pumping pipeline leakage is a severe concern for the oil and gas sector, resulting in forced downtime, inventory losses, and unexpected expenses. According to a 2018 study, liquid pipeline accidents cost the United States alone USD326 million each year. Environmental and clean-up costs account for USD140 million of the total. Oil and gas industries have used manual monitoring to avert these damages, but it is not as successful as real-time IoT monitoring. Real-time data aids in detecting equipment anomalies and reduces the need for time-consuming human labor. It can also raise the alarm based on the condition and age of pipes, filters, and motors to avoid any incidents that could result in death or major injury.

Sensor-based Tank Monitoring

Sensors provide data to cloud-based enhanced dashboards that monitor constant gear execution and stock levels in the oil and gas business. Sensors can monitor the stock level of onshore oil tanks and, as a result, dispatch trucks when the tanks need to be drained in the oil and gas business. Continuous oil tank sensor alerts allow for continuous pumping while improving stock transportation and reducing downtime expenses. The cloud-based enhanced dashboard displays present data clearly and concisely, allowing for more efficient decision-making. The use of IoT in the oil and gas industry is expected to grow as smart sensors are increasingly used in tank monitoring to record, create, and understand stock levels in real-time and dispatch them as and when needed.

Decreasing the Safety Risks

Exploration of oil and gas sites by personally visiting them is perilous for oil and gas personnel and is a primary cause of accidents that result in fatalities. Accidents caused by a lack of information can be fatal to workers and result in businesses' revenue and labor losses. IoT solutions can assist in remote monitoring such locations for safety reasons. Furthermore, decentralized control systems and automation devices can even permit unmanned operations in risky places, decreasing the oil and gas industry's safety hazards.


Market Segmentation

The North America IoT in Oil & Gas Market is segmented based on Industry Stream, Solution, Application, Country, and by company. Based on Industry Stream, the market is further fragmented into the Upstream, Downstream, Midstream. Based on Solution, the market is segmented into Sensor System, Communication & Networks, Data Management, Others. Also, segmentation of the market on grounds of the Application is done into Fleet & Asset Management, Preventive Maintenance, Pipeline Monitoring, Security Monitoring, Others. The market analysis also studies the regional segmentation to devise country market segmentation, divided among the United States, Canada, Mexico.

Company Profiles

IBM Corporation, Microsoft Corporation, Honeywell International Inc., Rockwell Automation Inc., Intel Corporation, C3.ai, Inc., Adobe Inc., Cisco Systems Inc., Equinor ASA, ABB Ltd., Siemens USA are among the major market players in the North America IoT in Oil & Gas Market.

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Attribute

Details

Market size value in 2021

USD 7.30 Billion

Revenue Forecast in 2027

USD 14.72 Billion

Growth Rate

12.16%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in (USD Billion), and CAGR for 2017-2021 and 2022-2027

Report Coverage

·         Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Industry Stream

·         Solution

·         Application

Country Scope

United States, Canada, Mexico

Key Companies Profiled

IBM Corporation, Microsoft Corporation, Honeywell International Inc., Rockwell Automation Inc., Intel Corporation, C3.ai, Inc., Adobe Inc., Cisco Systems Inc., Equinor ASA, ABB Ltd., Siemens USA.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

 

Report Scope:

In this report, North America IoT in Oil & Gas Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • North America IoT in Oil & Gas Market, By Industry Stream:

o   Upstream

o   Midstream

o   Downstream

·         North America IoT in Oil & Gas Market, By Solution:

o   Sensor System

o   Communication & Networks

o   Data Management

o   Others

  • North America IoT in Oil & Gas Market, By Application:

o   Fleet & Asset Management

o   Preventive Maintenance

o   Pipeline Monitoring

o   Security Monitoring

o   Others

·         North America IoT in Oil & Gas Market, By Country:

    • United States
    • Canada
    • Mexico

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in North America IoT in Oil & Gas Market

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Service Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on North America IoT in Oil & Gas Market

5.    Voice of Customer

5.1.  Brand Awareness & Brand Recall

5.2.  Reasons for Adopting IoT in Oil & Gas Industry

5.3.  Factors Considered while Selecting a Vendor

5.4.  Satisfaction Level

5.5.  Major Challenges/Issues while Adopting IoT in Oil & Gas Industry

6.    North America IoT in Oil & Gas Market Outlook, 2017-2027F

6.1.  Market Size & Forecast

6.1.1.               By Value

6.2.  Market Share & Forecast

6.2.1.               By Industry Stream (Upstream, Downstream, Midstream)

6.2.2.               By Solution (Sensor System, Communication & Networks, Data Management, Others)

6.2.3.               By Application (Fleet & Asset Management, Preventive Maintenance, Pipeline Monitoring, Security Monitoring, Others)

6.2.4.               By Country (United States, Canada, Mexico)

6.2.5.               By Company (2021)

6.3.  Market Map (By Industry Stream, By Solution, By Application, By Country)

7.    United States IoT in Oil & Gas Market Outlook, 2017-2027F

7.1.  Market Size & Forecast

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Industry Stream

7.2.2. By Solution

7.2.3. By Application

8.    Canada IoT in Oil & Gas Market Outlook, 2017-2027F

8.1.  Market Size & Forecast

8.1.1. By Value

8.2.  Market Share & Forecast

8.2.1. By Industry Stream

8.2.2. By Solution

8.2.3. By Application

9.    Mexico IoT in Oil & Gas Market Outlook, 2017-2027F

9.1.  Market Size & Forecast

9.1.1. By Value

9.2.  Market Share & Forecast

9.2.1. By Industry Stream

9.2.2. By Solution

9.2.3. By Application

10.  Market Dynamics

10.1.      Drivers

10.2.      Challenges

11.  Market Trends and Developments

12.  Policy and Regulatory Landscape

13.  Company Profiles                                                                                                                                                            

13.1.     IBM Corporation

13.2.     Microsoft Corporation

13.3.     Honeywell International Inc.

13.4.     Rockwell Automation Inc.

13.5.     Intel Corporation

13.6.     C3.ai, Inc.

13.7.     Adobe Inc.

13.8.     Cisco Systems Inc.

13.9.     Equinor ASA

13.10.  ABB Ltd.

13.11.  Siemens USA

14.  Strategic Recommendations

15.  About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com
  • Figure 1: North America IoT in Oil & Gas Market Size, By Value (USD Billion), 2017-2027F

    Figure 2: North America IoT in Oil & Gas Market Share, By Industry Stream, By Value, 2017-2027F

    Figure 3: North America IoT in Oil & Gas Market Share, By Solution, By Value, 2017-2027F

    Figure 4: North America IoT in Oil & Gas Market Share, By Application, By Value, 2017-2027F

    Figure 5: North America IoT in Oil & Gas Market Share, By Country, By Value, 2017-2027F

    Figure 6: North America IoT in Oil & Gas Market Share, By Company, By Value, 2021

    Figure 7: North America IoT in Oil & Gas Market Map, By Industry Stream, Market Size (USD Billion) & Growth Rate (%), 2021

    Figure 8: North America IoT in Oil & Gas Market Map, By Solution, Market Size (USD Billion) & Growth Rate (%), 2021

    Figure 9: North America IoT in Oil & Gas Market Map, By Application, Market Size (USD Billion) & Growth Rate (%), 2021

    Figure 10: North America IoT in Oil & Gas Market Map, By Country, Market Size (USD Billion) & Growth Rate (%), 2021

    Figure 11: United States IoT in Oil & Gas Market Size, By Value (USD Billion), 2017-2027F

    Figure 12: United States IoT in Oil & Gas Market Share, By Industry Stream, By Value, 2017-2027F

    Figure 13: United States IoT in Oil & Gas Market Share, By Solution, By Value, 2017-2027F

    Figure 14: United States IoT in Oil & Gas Market Share, By Application, By Value, 2017-2027F

    Figure 15: Canada IoT in Oil & Gas Market Size, By Value (USD Billion), 2017-2027F

    Figure 16: Canada IoT in Oil & Gas Market Share, By Industry Stream, By Value, 2017-2027F

    Figure 17: Canada IoT in Oil & Gas Market Share, By Solution, By Value, 2017-2027F

    Figure 18: Canada IoT in Oil & Gas Market Share, By Application, By Value, 2017-2027F

    Figure 19: Mexico IoT in Oil & Gas Market Size, By Value (USD Billion), 2017-2027F

    Figure 20: Mexico IoT in Oil & Gas Market Share, By Industry Stream, By Value, 2017-2027F

    Figure 21: Mexico IoT in Oil & Gas Market Share, By Solution, By Value, 2017-2027F

    Figure 22: Mexico IoT in Oil & Gas Market Share, By Application, By Value, 2017-2027F