The oil and gas industry is experiencing a surge in the adoption of IoT devices, according to a new report from Berg Insight.
The Berg Insight report predicts that the installed base of wireless devices with cellular, satellite, or low-power long-range (LPWA) connectivity in the industry will grow at a compound annual growth rate (CAGR) of 19 .3%, increasing from 7.8 million units at the end of 2023 to 18.8 million connected devices by 2028.
The main application driving this growth is the remote monitoring of assets such as industrial equipment, tanks and pipeline infrastructure in the midstream and downstream sectors. The expected growth in cellular device shipments is attributed to a higher adoption rate of sensor applications based on LTE-M and NB-IoT technologies and the continued preference for cellular communications in the remote tank monitoring segment.
Berg Insight analysts believe that non-3GPP LPWA technologies such as LoRa can also achieve a significant position in this market, as many remote monitoring applications have limited bandwidth requirements.
Partnerships between industrial automation providers and technology companies continue to be a trend in the oil and gas industry, expanding to include oil and gas operators and software companies.
Global automation providers such as ABB, Emerson, Hitachi, Honeywell, Rockwell Automation, Schneider Electric, Siemens and Yokogawa can provide end-to-end solutions thanks to their extensive partner ecosystems.
The choice of preferred network topology and communication standards depends on the application area, as each activity in the oil and gas value chain has its own specific connectivity needs.
Many vendors recognize the industry’s diverse needs by integrating different wireless capabilities into single-box solutions. Connectivity providers such as Advantech, Cisco, HMS Networks, Moxa, MultiTech and Robustel offer modular routers and gateways where different wireless interfaces can be added to the device.
“Oil and gas companies are increasingly relying on data from IIoT devices to make more informed decisions,” said Veronika Barta, IoT analyst at Berg Insight.
As operators move toward more remote and autonomous operations, the need to collect larger volumes of data increases, requiring edge processing capabilities to derive meaning from the data.
“Deployments of wireless IIoT devices with edge computing will be key to optimizing assets and improving oil and gas operations,” concludes Barta.
Source: Atrevida
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