TechSci Press Release

Growing trend for smart industry is driving the growth in North America IoT in Oil & Gas Market in the forecast period, 2023-2027. According to TechSci Research report,  “ North America IoT in Oil and Gas Market  - By Country, Competition Forecast & Opportunities, 2027 ” , the North America IoT in oil and gas market is projected to show impressive growth in the next five years due to increasing demand for internet-based services in the oil & gas industry. Higher usage of the internet of things for the functioning of equipment, tools, devices, and storing recorded data on cloud-based services are further driving the growth of the North America IoT in oil & gas market in the upcoming five years. Increasing demand for smart devices and smart equipment that are operated through internet services are also supporting the North America IoT in oil & gas market’s growth in the next five years. Also, increasing demand for sensor-based tank monitoring, and decreasing ...

North America IoT in Oil & Gas Market was valued at USD7.30 billion in 2021 and is anticipated to project a robust growth in the forecast period with a CAGR of 12.16% owing to growing trend for smart industry, vehicle tracking and route control in real time in North America’s oil & gas market. In the oil and gas business, the Internet of Things (IoT) is a network of physical things that are connected to the Internet. The Internet of Things (IoT) aids in the monitoring of the pipeline system and its components, such as pipes, pumps, and filters. Without IoT, firms must rely on human resources to do basic checks and maintenance on a regular basis. Several advantages of using IoT in the oil and gas industry are efficient management of employees, pipeline monitoring, risk mitigation, reduction in drilling operation's carbon footprint, etc. North America IoT in Oil & Gas Market is further classified on the basis of Industry Steam, including Upstream, Downstream, Midstream. ...