oil-&-gas-iot-core-analytics-service-revenues-to-grow-to-us$712-million-in-2026

Oil & Gas IoT Core Analytics Service Revenues to Grow to US$712 Million in 2026

 

The Oil & Gas (O&G) IoT Analytics market garners heavy investment, yet it is deeply challenged by complex system integrations, siloed data, and  Supervisory Control and Data Acquisition (SCADA) management systems. In-house analytics is no longer a sustainable and cost-effective IoT option, and oil & gas firms have widely recognized the expertise of IoT cloud Platform-as-a-Service (PaaS)/SaaS vendors. According to global tech market advisory firm ABI Research, spending on big data and analytics in the oil and gas industry totaled US$156 million in 2020, an annual increase of 36.8% from 2018. Over the next 6 years, the oil & gas IoT core analytics service revenue will grow to US$712.7 million.

“Instead of developing analytics capabilities in-house, more and more enterprises are turning to supplier advanced analytics and Artificial Intelligence (AI) PaaS/SaaS offerings enabled through extensive cross-industry collaborations.  Partnership examples include Total Oil and Google Cloud, BP and Azure, and Seeq and Saudi Aramco. Simultaneously, the leading IoT vendors are continually competing for the top O&G contracts by offering an end-to-end solution and expanding their marketplace portfolios toward the edge,” explains Kateryna Dubrova, Research Analyst at ABI Research.

Azure and Amazon Web Services (AWS) are positioned as leading end-to-end solutions with basic public cloud toolkits. While Seeq, Foghorn, Falkonry, Manna, and Uptake, provide more advanced, specialized oil & gas analytics solutions. DataRobot, Noodle.ai, and Dataiku provide IoT ML integration services, with powerful AI engines and low-to-no-code solutions. Simultaneously, Nokia, C3.ai, Teradata, KX, and GE are positioning themselves firmly as offering system integration and overall digital transformation services for the oil & gas sector.

The diversification of the investment portfolios toward green energy and emission monitoring technologies is among the top trends in the oil and gas analytics market. The O&G enterprises and vendors are focusing  their efforts on the “green” market, driving the demand for “green” analytics use cases and applications. “Advanced analytics for upstream and downstream oil and gas operations is more or less solidified, so monitoring carbon emissions, lowering carbon footprints, and related green energy activities, are expected to become popular for advanced analytics monetization,” says Dubrova.

O&G enterprises are showcasing rapid adoption of the cloud and cloud-native analytics applications as components of their digital transformation model. “Cloud-based applications are available through subscription-based plans up to fully-managed services.. In such cases, there are considerable cost savings on infrastructure, including improving efficiencies and lowering the production costs,” Dubrova concludes.

These findings are from ABI Research’s IoT Analytics Services for Oil and Gas Markets application analysis report. This report is part of the company’s M2M, IoT & IoE research service, which includes research, data, and analyst insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific technology.

retina-ai-health,-inc.-welcomes-nwamaka-imasogie-as-chief-product-officer

RETINA-AI Health, Inc. Welcomes Nwamaka Imasogie as Chief Product Officer

 

Nwamaka Imasogie has joined RETINA-AI Health, Inc. as Chief Product Officer. She joins from Microsoft’s Healthcare AI and Research team where she was Principal Software Engineer. Nwamaka has a passion for healthcare and is driven to build technology that will save lives. Furthermore, she is a technology entrepreneur who has founded and sold two Tech startups. Prior to joining Microsoft, she was Co-Founder and Chief Technology Officer at GitLinks, a Tech Startup that provided and verified cybersecurity, regulatory compliance, and validation of open source software. She built the technology stack and led the company as CTO to its acquisition by the multi-billion dollar enterprise software firm, Infor. Before GitLinks, Nwamaka was an Engineering manager at Chevron.

Nwamaka obtained her first computer at the age 5 and has a passion for creating and stewarding products from conception to shipping. Her hands-on programming experience includes the following platforms and technologies: MLOps, Databricks, PyTorch, DevOps (AWS, GCP, Azure), Python, Javascript, Frontend, UI/UX, Continuous Integration, kubernetes, Docker, amongst others. She has published in Machine learning/Artificial Intelligence/Natural language Processing.

Nwamaka obtained a Master’s degree in Computer Science from Cornell University, and a Bsc. in Electrical Engineering from the University of Houston. She is the inventor on two technology U.S. patents.

Dr. Stephen G. Odaibo, RETINA-AI Health, Inc.’s CEO and Founder had the following to say: “We are thrilled that Nwamaka is joining us as Chief Product Officer. She has vast experience in software product development, regulatory compliance, and healthcare tech — including her most recent role as Principal Software Engineer on the Microsoft Healthcare AI team. We are assembling an exceptionally talented and multidisciplinary leadership team and are especially delighted that Nwamaka has chosen to join us in building RETINA-AI Health, Inc.”

ABOUT RETINA-AI Health, Inc:
RETINA-AI Health, Inc. is a privately-held Delaware C-Corp founded in 2017 and headquartered in Houston Texas. The company is focused on building artificial intelligence to transform healthcare and improve the outcomes of prevalent chronic diseases such as diabetes. More broadly, the company develops and deploys retina-based AI for detection of systemic chronic diseases at scale. RETINA-AI Health, Inc. has a strong unwavering commitment to adhere to the highest standards of quality, while continuously leading the world in healthcare AI innovation.