Top Trends That Can Empower Your Business In Digital Transformation Market In The Oil And Gas.




The global digital transformation market in the oil and gas industry is expected to grow at a CAGR of 16.45% during the forecast period. Based on technology, the digital transformation market has been segmented into IoT, E&P Software, Big Data, Cloud Computing, AI, AR/VR, and Data Monetization. 

As per the latest market research report published by Technavio, the global digital transformation market in the oil and gas industry will grow by USD 33.89 billion during 2019-2023, and the market’s growth momentum will decelerate during the forecast period. Get the free sample report below for the detailed information.

Download the free sample report @ http://bit.ly/33xNsoY

The increasing need for transparency in operations and tighter controls on production and distribution are driving oil and gas operators to adopt wireless IoT technology to re-imagine the production and distribution chain. The implementation of IoT is projected to transform the oil and gas industry at a rapid pace. The deployment of IoT solutions in the digital transformation market could eliminate unplanned well outages, increase crude output by 10% over a period of two years. 

In the upstream segment, IoT is used to reduce non-productive time. In the midstream segment, IoT helps organizations in connecting pipeline networks as well as in monitoring and identifying leaks and emissions, and emergency shutdown systems efficiently. The deployment of IoT solutions across the value chain aid the oil and gas industry, in the form of downstream sensors to surface control valves with real-time data analysis. 

Hence, the IoT segment in the digital transformation market in the oil and gas industry is expected to witness steady growth during the forecast period. To know the complete and in-depth analysis and forecast of this market get the complete report by clicking the link below.

Get the Complete Report @ http://bit.ly/2qgAoFY

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