M2M Applications to Prosper in Oil and Gas Industry: Report
FREMONT, CA: Machine to machine (M2M) communication is gaining ground, and with array of connectivity options available, potential of M2M is reaching new heights paving way for industrial automation. Oil and Gas industry has also witnessed modernization of technology. Berg Insight, an M2M/IoT market research firm, has published 3rd edition of ‘M2M Applications in the Oil and Gas Industry’ forecasting the growth of M2M applications.
Given the work environment of Oil and Gas industry where remote and inaccessible facilities are connected only through a wireless communications for data transfer, wireless technologies such as private radio, cellular and satellite communications play a vital role in providing connectivity at reasonable cost delivering high performance.
Supervisory Control and Data Acquisition (SCADA) systems are centralized systems that utilize telemetry to monitor and control remote facilities. SCADA, telemetry and M2M solutions can be found in applications such as drill and well monitoring, fiscal metering and pipeline monitoring.
The latest report estimates the shipments of oil and gas M2M devices featuring cellular and satellite communication capabilities to touch 0.30Mn in 2019 at a CAGR of 21 percent. The installed base of oil and gas M2M devices is forecasted to grow at a CAGR of 20.1 percent clocking 1.25Mn units by 2019. The report expects pipeline monitoring and tank monitoring to be the top M2M applications in oil and gas industry and on-shore well field equipment monitoring to be the most common wireless application in the segment.