16 Stats about IoT in Oil and Gas
Over the past decade, the speed of innovation has accelerated. From sensors to wireless connectivity to data analytics, IoT has infiltrated nearly every industry. The oil and gas industry is no exception, embracing digitization at a faster rate, and as a result seeing dramatic improvements in efficiency and safety that will further transform the industry.
Prior to digitization, oil and gas drilling and completions operators had predominately low-tech methods for monitoring and managing their processes. Visual inspections and manual estimations created large margins for error and also put the safety of personnel and the environment at risk.
Now operators have analytics and sensors at their disposal that not only offer the ability to automate costly, error-prone tasks but also offer operators the ability to capture vast amounts of rich data to inform operations and vastly improve their bottom line.
The infographic below highlights 16 important facts you should know about IoT in oil and gas.