Market Research Report
North America IoT in Oil & Gas Market, By Industry Stream, By Solution, By Application, Competition, Forecast & Opportunities, 2025
|Published by||TechSci Research||Product code||949967|
|Published||Content info||82 Pages
Delivery time: Inquiry
|North America IoT in Oil & Gas Market, By Industry Stream, By Solution, By Application, Competition, Forecast & Opportunities, 2025|
|Published: July 1, 2020||Content info: 82 Pages||
North America IoT in Oil & Gas Market, By Industry Stream (Upstream, Downstream, Midstream), By Solution (Sensor system, Communication Networks, Data Management, Others), By Application (Fleet & Asset Management, Preventive Maintenance, Pipeline Monitoring, Security Monitoring, Others), Competition, Forecast & Opportunities, 2025 .
North America IoT in oil & gas market is forecast to grow at a CAGR of around 12% during 2021-2025. IoT adoption in oil & gas allows in improving safety and while increasing profits at the same time. IoT will allow the industry to digitize, optimize, and automate processes that were previously disconnected, which would save time, money, besides increasing safety. Fluctuations in the oil prices and the digitization boom in the oil & gas industry are anticipated to drive North America IoT in oil & gas market over the coming years. Additionally, widespread implementation of the cloud-based software systems is further forecast to fuel the market on account of reduced security risks and increasing production capabilities.
North America IoT in oil & gas market is segmented based on industry stream, solution, application, company, and country. Based on application, the market can be segmented into fleet & asset management, preventive maintenance, pipeline monitoring, security monitoring and others. The preventive maintenance segment is expected to witness significant growth during the forecast period since by utilizing IoT and creating a maintenance strategy, oil & gas companies can track deteriorated parts and equipment with higher possibility of diagnosing a problem remotely through preventive maintenance.
Major players operating in the North America IoT in oil & gas market include 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. Market players are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the region.
TechSci Research calculated the market size of North America IoT in oil & gas market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, vendors and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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:
Fleet & Asset Management
Company Profiles: Detailed analysis of the major companies present in North America IoT in oil & gas market.
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:
(Note: The companies list can be customized based on the client requirements.)