IoT
in Oil and Gas Market
IoT in Oil and Gas Market Scope: Industry Analysis, Market Size, Growth, Trends Till 2031
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IoT in Oil and Gas Market Size and Growth
The IoT in the Oil and Gas market is witnessing robust growth, driven by the need for enhanced operational efficiency and safety. As of 2023, the market size is projected to reach approximately $33 billion. Increasing adoption of automation and advanced data analytics is shaping market dynamics positively.
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Companies Covered
(Covid 19 Impact Covered)
◍ Cisco Systems
◍ C3
◍ IBM
◍ Intel
◍ Microsoft
◍ ABB
◍ Siemens
◍ Schneider Electric
◍ Schlumberger
◍ General Electric
◍ Honeywell
◍ Telit
◍ Rockwell Automation
The IoT in Oil and Gas market features major players like Cisco, IBM, and Schlumberger, enhancing operations through real-time data analytics, asset monitoring, and predictive maintenance. These companies drive growth by improving efficiency and safety. Notable sales revenue: Cisco ($51B), IBM ($57B), and Honeywell ($34B).
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Market Segmentation
By Application
◍ Fleet and Asset Management
◍ Pipeline Monitoring
◍ Preventive Maintenance ◍ Security Management
◍ Others
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By Product
Sensing
Communication
Cloud Computing
Data Management
Market Growth
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$ 44.41 Billion
