This Connected Oil And Gas market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Connected Oil And Gas market.
Connected technologies are the next wave of Internet technologies. The Internet of things (IoT) continues to spread across various applications in the oil & gas industry. Predictive maintenance, self-optimising production, and automated inventory management are the three top use cases driving the usage of connected technologies in the connected oil and gas market. In addition, global and regional oil and gas companies are focusing on connected technologies to increase customer satisfaction, improve quality, support new business models, and reduce costs. These are some of the key factors that are expected to drive the global connected oil and gas market in the coming years.
Furthermore, in the recent years, it has been observed that oil and gas companies are moving towards IoT-driven technologies for smart production, smart operations, smart inventory, and connected logistics & smart supply chain to boost revenues by increasing production, exploiting intelligent technologies, and the creation of new hybrid business models to transform their workforce and fuel innovation. These factors are also among the key driving forces of the global connected oil and gas market.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Connected Oil and Gas Market: Market Dynamics
Rise in the demand for IoT components for industrial purposes is one of the major driving forces of the global connected oil and gas market. Industrial IoT components have witnessed notable growth in the past few years. A global surge in the demand for next-generation innovations and technological advancements to improve business efficiency are contributing to the growth of the global connected oil and gas market.
Furthermore, the global growth of industrial automation components is also expected to drive the global connected oil and gas market in most of the developed and developing nations. In addition, the adoption and deployment of advanced technologies for industrial processes is expected to positively impact the growth of the global connected oil and gas market in the near future.
Lack of compatibility between the existing IT infrastructure and new IT infrastructure is a key factor that is likely to hamper the growth of the global connected oil and gas market during the forecast period. In addition, lack of investments in research and development in Latin America & Middle East & Africa (MEA) and financial uncertainties across the world are some of the major challenges faced by the connected oil and gas market.
Some of the prominent players in the global connected oil and gas market are: ABB Group, Rockwell Automation, GE Electric, Cisco Systems, Inc., Intel Corporation, Schneider Electric, Dassault Systmes, IBM Corporation, Microsoft Corporation, Oracle Corporation, Honeywell International Inc., Robert Bosch, and Siemens AG.
Based on geography, the global connected oil and gas market is segmented into North America, Western Europe, Eastern Europe, SEA and others in Asia Pacific, Latin America, China, Japan, and Middle East & Africa. Due to the rising adoption of connected devices throughout the U.S. and Canada, the North America connected oil and gas market is expected to become one of the prominent segments of the global connected oil and gas market. The region is expected to grow with a double-digit growth rate during the forecast period. In addition, due to the presence of various oil and gas companies in the Middle East & Africa region, the MEA connected oil and gas market is expected to create potential growth opportunities for the vendors in the connected oil and gas market. Furthermore, with the increasing penetration of connected technologies and the rising penetration of the Internet in most of the Asian countries, The Asia Pacific connected oil and gas market will become a key source of demand for connected oil and gas systems in the near future.
The connected oil and gas market report covers exhaustive analysis on:
- Global Connected Oil and Gas Market Segments
- Global Connected Oil and Gas Market Dynamics
- Historical Actual Market Size, 2013–2017
- Global Connected Oil and Gas Market Size & Forecast, 2018 to 2028
- Supply & Demand Value Chain for the Market
- Global Market Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Connected Oil and Gas Market Solutions Technology
- Connected Oil and Gas Value Chain of the Market
- Global Connected Oil and Gas Market Drivers and Restraints
Regional analysis of the global connected oil and gas market includes:
- North America Market
- Latin America Market
- Rest of Latin America
- Western Europe Market
- Rest of Western Europe
- Eastern Europe Market
- SEA & Others of APAC Market
- Australia and New Zealand (A&NZ)
- Rest of SEA & Others of APAC
- Japan Market
- China Market
- Middle East and Africa Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The connected oil and gas market report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The connected oil and gas market report also maps the qualitative impact of various market factors on market segments and geographies.
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Connected Oil and Gas Market: Segmentation
The connected oil and gas market has been classified based on component and company type.
Segmentation of the connected oil and gas market on the basis of component:
- Industrial Robotics
- Distributed Control System
- Condition Monitoring
- Smart Meter
- Smart Beacon
- Yield Monitoring
- Electronic Shelf Label
- Outage Management System
- Distribution Management System
Segmentation of the connected oil and gas market on the basis of company type:
Connected Oil and Gas Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance
Frequently Asked Questions
What research methodology is used to develop the Connected Oil And Gas Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Connected Oil And Gas Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Connected Oil And Gas Market report?
In addition to up-to-date market figures and customized of the Connected Oil And Gas Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.