$2 Billion Digital Oilfield Wireless Sensor Network Market in 2018, Says ON World
San Diego, California (PRWEB) October 30, 2014 -- Wireless sensor networking (WSN) is one of the key digital oilfield technologies that are transforming the oil and gas industry, according to global technology research firm ON World.
“Wireless sensors have become instrumental for oil and gas producers by speeding up the time it takes to automate a well and providing continuous monitoring solutions that wouldn’t exist otherwise,” says Mareca Hatler, ON World’s research director.
ON World’s survey of 220 leading industrial automation professionals in Q4 2014 found that half are targeting the oil and gas industry and a majority are deploying or planning WSN solutions. In addition, the survey found growing interest in Internet of Things areas such as cloud computing, IP addressable sensors and wearables.
For the past decade that ON World has been surveying the oil and gas industry, new drilling techniques, wireless technologies including WSN and cloud infrastructure has transformed North America from a heavily dependent importer to the largest global producer. In this same time frame, WSN has been securely and reliably deployed in large numbers from offshore platforms to arctic oilfields. ON World’s research shows a potential cost reduction of up to 80% using wireless sensor network automation systems combined with cloud connected production optimization solutions.
More than three quarters of the oil and gas respondents have WSN deployments. Four in 10 of the vendors and end users have deployed WSNs with at least 100 nodes compared with 20% in our previous survey. Nine percent (9%) have deployed networks with at least 1,000 nodes compared with 4% in 2012.
Wireless sensor networking and the Internet of Things are viewed as some of the most important strategic investment areas. Most of the oil and gas respondents believe personal monitors are likely to be used at their organization with 28% likely to use smart watches and 11% smart glasses.
By 2018, millions of WSN devices will be deployed worldwide for well automation, pipeline operation and exploration of new and existing oilfields, representing a $2 billion market at this time. As the largest oil and gas producing region, North America is the largest WSN market. However, other regions such as Russia, the Middle East and Latin America will grow faster over the next five years.
Based on 250+ phone interviews and surveys, ON World’s recently published Digital Oilfield Wireless Sensor Networks covers the global market for wireless sensor network equipment and associated services for upstream and midstream oil and gas applications.
The report synopsis and free executive summary is available from: http://onworld.com/oilandgas
About ON World:
ON World provides global business intelligence on smart technology markets. Our market research and information services are sold to Fortune 1000 companies, startups and investors worldwide. http://www.onworld.com
Contact:
Mary Purvis
p: 858-259-2397
e: [email protected]
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Mary Purvis, ON World, http://www.onworld.com, +1 (858) 259-2397, [email protected]
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