Digitalization Becoming Increasingly Crucial for the Oil and Gas Industry | GlobalData Plc

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LONDON, June 14, 2022 (GLOBE NEWSWIRE) — Digitalization in oil and gas involves the adoption of digital technologies such as artificial intelligence (AI), big data, cloud computing, cybersecurity, the Internet of things (IoT), and robotics. These technologies can deliver actionable insights to extend the life of an existing oil and gas asset, which has become a major issue in many developed countries. Managing aging infrastructure could help companies reduce their capital and operating expenditures for a given asset. Minimizing equipment downtime, while enhancing operational performance will be key to increasing revenues. There is also a growing emphasis among oil and gas producers on digitalizing workflows to enhance operational visibility for improved decision making.

The Digitalization in Oil and Gas – Thematic Research report offered by GlobalData Plc provides a comprehensive review of the expanding role of digitalization across industrial applications, with a special focus on the oil and gas industry.

Market Dynamics Enabling Digitalization in the Oil & Gas Industry

The liquefied natural gas (LNG) sector is expected to witness significant growth in this decade as the preferences of energy-importing countries shifts due to the ongoing geopolitical conflict between Russia and Ukraine. Europe is expected to switch from its Russian gas supply to LNG imports from the US, Qatar, and other sellers. Also, the energy demand of the fast-growing emerging Asian markets, such as China and India, is expected to maintain an upward trend in this decade. This is expected to boost the digitalization efforts in the midstream sector and employing these technologies can ensure LNG terminals have an increased uptime.

Key Industry Trends Impacting the Digitalization Theme

  • Digitalization
  • Supporting decarbonization efforts
  • Securing critical data
  • Evolving supply chains
  • Health, safety, and environment (HS&E)

Key Technology Trends Impacting the Digitalization Theme

  • Predictive maintenance
  • Asset management
  • Wearable tech
  • Digital twins
  • Robotics
  • 3D printing

For more insights on digitalization market trends in the oil and gas industry, download a free report sample

Oil & Gas Value Chains

  • Upstream Sector
  • Midstream Sector
  • Downstream Sector

The upstream sector includes segments such as exploration, drilling, completion, and production. The key assets in the sector include producing as well as discovered fields and the fields may be found onshore as well as offshore.

For more insights on value chains in the oil & gas industry, download a free report sample

Leading Oil & Gas Companies Associated with the Digitalization Theme

  • ADNOC
  • BP
  • Chevron
  • Eni
  • ExxonMobil
  • Equinor
  • Repsol
  • Shell
  • Sinopec
  • Saudi Aramco
  • TotalEnergies

In the last five years, ADNOC has made significant investments in digital technologies. It has adopted technologies such as AI, big data, blockchain, and predictive analytics to create more agile operations.

Leading Technology Companies Associated with the Digitalization Theme

  • Alphabet
  • Amazon
  • Cisco
  • Cloudera
  • DJI
  • IBM
  • Intel
  • Meta
  • Microsoft
  • Nvidia
  • Oracle
  • PrecisionHawk
  • RealWear
  • Salesforce
  • SAP
  • Teradyne

For more insights on leading companies associated with the digitalization theme, download a free report sample

Digitalization Market Overview in the Oil & Gas Industry

Key Industry Trends Digitalization, Supporting Decarbonization Efforts, Securing Critical Data, Evolving Supply Chains, and Health, Safety, and Environment (HS&E)
Key Technology Trends Predictive Maintenance, Asset Management, Wearable Tech, Digital Twins, Robotics, and 3D Printing
Value Chains Upstream, Midstream, and Downstream
Leading Oil & Gas Companies ADNOC, BP, Chevron, Eni, ExxonMobil, Equinor, Repsol, Shell, Sinopec, Saudi Aramco, and TotalEnergies
Leading Technology Companies Alphabet, Amazon, Cisco, Cloudera, DJI, IBM, Intel, Meta, Microsoft, Nvidia, Oracle, PrecisionHawk, RealWear, Salesforce, SAP, and Teradyne

Digitalization Market in the Oil & Gas Industry Report Scope

  • This report highlights the growing role of digital technologies in the oil and gas industry.
  • It identifies the most prominent digital technologies adopted by the oil and gas industry.
  • It analyses the impact of digitalization on the oil and gas value chain.
  • The report provides an overview of the competitive positions held by oil and gas companies, equipment and services companies, and technology vendors in the digitalization theme.
  • It also provides digitalization case studies in the oil and gas industry.

Reasons to Buy

  • Identifies and evaluates the prominent digital technologies adopted across the oil and gas value chain.
  • Impact analysis of digitalization in the oil and gas industry.
  • Overview of case studies highlighting the adoption of digital technologies in the oil and gas industry.
  • Identify and benchmark key oil and gas companies using digital technologies in their operation.
  • Identify and benchmark key digital technology providers; and equipment and services companies, offering digital technologies and services to the oil and gas industry.

FAQs

What are the key industry trends impacting the digitalization theme in the oil and gas industry?

The key industry trends impacting the digitalization theme in the oil and gas industry are digitalization, supporting decarbonization efforts, securing critical data, evolving supply chains, and health, safety, and environment (HS&E).

What are the key technology trends impacting the digitalization theme in the oil and gas industry?

The key technology trends impacting the digitalization theme in the oil and gas industry are predictive maintenance, asset management, wearable tech, digital twins, robotics, and 3D printing.

What are the different value chains in the oil and gas industry?

The oil and gas value chain is broadly categorized into upstream, midstream, and downstream sectors.

Which are the leading oil & gas companies associated with the digitalization theme?

The leading oil & gas companies associated with the digitalization theme are ADNOC, BP, Chevron, Eni, ExxonMobil, Equinor, Repsol, Shell, Sinopec, Saudi Aramco, and TotalEnergies.

Which are the leading technology companies associated with the digitalization theme?

The leading technology companies associated with the digitalization theme are Alphabet, Amazon, Cisco, Cloudera, DJI, IBM, Intel, Meta, Microsoft, Nvidia, Oracle, PrecisionHawk, RealWear, Salesforce, SAP, and Teradyne.

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