IoT is the Solution to Challenges in Oil and Gas With the new reality of low-priced oil, organizations need to maximize productivity and efficiency and reduce downtime by improving operational insights.
Oil and Gas Opportunity
By 2020, Research and Markets predict that $45B will be spent by the Oil and Gas industry on IT and IoT technology. McKinsey Global Institute believes 40% of the value will be enabled by system interoperability.
Industrial IoT Solutions for Oil and Gas
With the ThingWorx Industrial IoT platform, IoT solutions can be quickly developed and deployed that address:
- Communications management of upstream, midstream and downstream assets, facilities and enterprise systems
- Unified mash-ups of all field assets, no matter how disparate the underlying legacy systems—both centrally and in the field
- Predictive analytics to know when assets will require maintenance, operational modifications or replacement
- Augmented Reality (AR) applications for enhanced situational awareness, machine and process status, detailed work instructions using step-by-step 3D models and “over the shoulder” coaching by remote domain experts
- Full and detailed reporting to meet the needs of safety, environmental and regulatory requirements
"Layering the ThingWorx platform over PI System Data Infrastructure extends the value that our customers can realize from the PI System. The powerful capabilities, market reach, and Industrial IoT leadership position of PTC make it an ideal partner for OSIsoft in the Industrial IoT landscape."
ThingWorx Supports Oil and Gas Initiatives
IoT Solutions for Oil and Gas
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