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.

abb-information-systems-selects-google-cloud-to-expand-its-cloud-footprint

ABB Information Systems Selects Google Cloud to Expand its Cloud Footprint

 

Google Cloud today announced it has been selected by ABB to further expand the cloud footprint of its Information System (IS) services. The Swiss-headquartered global technology leader has chosen Google Cloud as part of the organization’s ‘Rationalizing IT Operations’ (code named: Program RIO) initiative, which seeks to further increase the scalability and resilience of its infrastructure services to all ABB businesses.

Google Cloud will collaborate with ABB’s hosting services team to layout an optimized cloud migration that is tailored to meet the IS needs of ABB businesses. This will be rolled out in a structured way and in-line with ABB’s new operating model. The migration signals ABB’s increased focus on cloud adoption, and optimizing its data centers’ capacity.

Google Cloud’s data science, artificial intelligence (AI) and machine learning (ML) capabilities will be leveraged to simplify and improve the IS quality assurance via automation and consolidation of identified services housed in ABB’s strategic data centers and remote sites, with a cloud-first approach.

“ABB is a global technology leader that has been a Fortune 500 company for many years,” said Dominik Wee, Managing Director Global Manufacturing and Industrial at Google Cloud. “We’re thrilled about the opportunity for Google Cloud to help ABB in its journey toward powering its information systems services in the cloud, as the company heads towards a more digitized future.”

”We are excited to be working together with Google Cloud to improve the competitiveness of ABB’s Information Systems services, and the flexibility we offer our internal business customers,” said Daniele Lisetto, Head of IS Strategy Office and Sponsor of RIO Program at ABB.

“Our choice to include Google Cloud further strengthens our strategic vision and stimulates innovation as we expand the Information Systems’ cloud footprint,” said Prabhu Chakravarthy, Group IS Program Leader at ABB.