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Oil and gas sector witnesses’ rapid expansion in IoT devices


Oil gas sector rapid expansion IoT devices

According to a recent report from Berg Insight, the oil and gas industry is seeing a significant increase in the use of IoT devices.

A report by Berg Insight predicts that the number of wireless devices with cellular, satellite, or low-power wide-area (LPWA) connectivity will grow from 7.8 million units in 2023 to 18.8 million units in the same year. The expected compound annual growth rate (CAGR) for this industry is 19.3%.

The main reason for this expansion is to monitor assets remotely, such as industrial machinery, storage tanks, and pipeline infrastructure in the midstream and downstream domains. Adoption of LTE-M and NB-IoT technologies for sensors and the preference for cellular connections in remote tank monitoring are driving the increase in shipments of cellular devices.

According to Berg Insight analysts, non-3GPP LPWA technologies like LoRa can be successful in the remote monitoring market due to their low bandwidth needs.

In the oil and gas sector, partnerships between automation suppliers and technology firms are still common and are now extending to software companies and industry operators. Global automation vendors such as ABB, Emerson, Hitachi, Honeywell, Rockwell Automation, Schneider Electric, Siemens, and Yokogawa can offer complete solutions thanks to their extensive partner networks.

The unique connectivity requirements of each activity in the oil and gas value chain determine the best network structure and communications protocols.

Numerous providers include various wireless functionalities into single-box solutions in recognition of the industry's heterogeneous needs. Modular routers and gateways are available from connectivity providers like Advantech, Cisco, HMS Networks, Moxa, MultiTech, and Robustel. These devices allow for the addition of several wireless interfaces to the device.

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