Data sensors have long been at the heart of this initiative. Industrial Internet of Things (IIoT) sensing technology is widely deployed by energy companies to provide real-time, accurate information at every stage of production.
Capable of monitoring a range of parameters, from temperature to the pressure of foreign substances, and fluid viscosity to seismic activity, IIoT sensors are integral to increasing the transparency and integrity of oil and gas operations.
The data gathered by IIoT sensors is then transmitted back to a centralised system, where it’s collated into different data domains, analysed by advanced AI/ML algorithms, and turned into actionable insights.
This steady and accurate flow of information ultimately empowers operators to make informed decisions that will benefit the bottom line. As more IoT devices are developed and improved, it’s crucial for oil and gas companies to capitalise on their capabilities.
Key fact: By 2023, the market for IoT devices in oil and gas will be worth almost $40 billion
Benefits
Improves visibility
Collects accurate information
Extends asset lifetime
Learn more insights by browsing our resource centre and learn more about digital trends shaping operator responses to the coming hydrocarbon boom and energy transition in the Innovation Forecast in Energy.
