Meeting the energy needs of tomorrow
The energy industry is in an unprecedented state of transformation. Ever-increasing pressure from governments, consumers and activists to reduce non-renewable energy consumption and humanity’s impact on the environment is putting revenues, profits and margins under severe strain. With renewable energy uptake accelerating and innovations like electric vehicles gaining mainstream attention, traditional oil and gas businesses face an uncertain future.
The sector undoubtedly has a great deal to gain by harnessing smart technologies such as IIoT, which promises to help it increase outputs and profitability. However, our research suggests that while pockets of the industry – chiefly the distribution end of the market – are progressing well towards IIoT, the majority of respondents are closer to the start of their journey.