North America IoT in oil & gas market is forecast to grow at a CAGR of around 12% during 2021-2025
NEW YORK, July 21, 2020 /PRNewswire/ -- 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
Read the full report: https://www.reportlinker.com/p05933030/?utm_source=PRN
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:
• To analyze and forecast the market size of North America IoT in oil & gas market.
• To classify and forecast North America IoT in oil & gas market based on industry stream, solution, application, company and country distribution.
• To identify drivers and challenges for North America IoT in oil & gas market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in North America IoT in oil & gas market.
• To conduct pricing analysis for North America IoT in oil & gas market.
• To identify and analyze the profile of leading players operating in North America IoT in oil & gas market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the region.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, distribution channels and presence of all major players across the region.
The analyst 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. The analyst 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 the analyst.
Key Target Audience:
• IoT in oil & gas service providers, vendors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to IoT in oil & gas
• Market research and consulting firms
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.
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:
• Market, By Industry Stream:
o Upstream
o Downstream
o Midstream
• Market, By Solution:
o Sensor System
o Communication Networks
o Data Management
o Others
• Market, By Application:
o Fleet & Asset Management
o Preventive Maintenance
o Pipeline Monitoring
o Security Monitoring
o Others
• Market, By Country:
o United States
o Canada
o 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, we 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).
Read the full report: https://www.reportlinker.com/p05933030/?utm_source=PRN
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