The Oil & Gas industry is experiencing a digital transformation, which will drive significant changes within the next five years.
What does digitization mean to the industry? It affects the entire value chain – from field devices and controls to software application and services.
In fact, companies that embrace big data, the Internet of Things, and advanced analytics can expect to see the biggest gains from this transformation, which:
- Addresses key customer concerns
- Opens a $35 billion market
- Breaks business silos
- Leverages integrated operation management
- Occurs at every level
- Improves three key application areas
According to an Accenture/Microsoft survey, 44% of oil & gas leaders expect to invest in technology over the next three to five years – and 18% plan to make significant investments. Survey respondents agreed that remote management and “as a service” models will grow in importance, and new digital technologies will create business value.
Through innovation at every level, the Schneider Electric™ EcoStruxure™ platform delivers to oil & gas companies the connected products and enterprise-level solutions they need for smarter operation, increased safety and optimized production in the new digital world.