BIS Research - Emerging Technology Market Intelligence

Emerging Economies Offer Immense Opportunities for the IoT in Oil & Gas Market to Grow

Jan 7, 2019 2:07:43 AM / by BIS Research posted in Emerging Trends inIoT in Oil and Gas Market, Oil and Gas automation market, oil and gas industry future, oil and gas market intelligence, oil & gas market size, Oil and Gas market share, Oil and Gas market value, oil & gas market trends, IoT in Gas Market, IoT in Oil and Gas Market, IoT in Gas Industry, IOT in Oil and Gas, IoT in Oil and Gas Industry, IoT in Oil and Gas Market by Application, IoT in Oil and Gas Market by Industry Stream, IoT in Oil and Gas Market by Solutions, IOT in oil and gas Market Forecast, IOT in oil and gas market growth, IoT in Oil Industry, IoT in Oil Market, IoT Oil and Gas Market by Region, Market Research Report

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Over the last decade, the oil and gas industry has been facing a number of challenges, including decreasing oil prices, reducing cash flows, and the difficulty in adopting digital solutions for addressing the fluctuation of pricing and demand in the market. Further, the increasing demand for clean energy and sustainability is also affecting the growth of the market. The Internet of Things (IoT) technology offers solutions to the industry that can help overcome these challenges. One of the major requirements of oil and gas companies is the access to real time information across remote locations which is made possible with the use of IoT sensor data technology.

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Internet of Things (IoT) Brings Major Transformation in Oil and Gas Industry

Aug 23, 2017 7:06:43 AM / by BIS Research posted in Internet of Things, Waste Management & Envir Tech, IOTin fossil fuels, IoT, IOT applications in oil, IOT in Energy, IOT in Oil and Gas, IOT in Petrochemicals

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The current trend of low rate of demand of crude oil as compared to supply rate has resulted in a considerable decline in the price of crude oil since 2014. Since the lifting of global sanctions from Iran, the supply of crude oil has increased significantly. The demand for electric vehicles has increased over the last few years in lieu of the impending climate change, thus, the demand for crude oil has decreased drastically, especially in China, and the increased production of shale oil in the U.S. are collectively affecting the prices of crude oil, which is not expected to gain momentum in the coming years.

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