Upstream, midstream, and downstream IoT provides value to the resource supply chain.
· Global IoT in Oil and Gas Market to Reach $30.57 Billion by 2026.
The extraction industries are used to working in harsh environments, and IoT devices are being built to handle these situations. Oil and Gas have some of the most diverse applications of IoT devices, from sensors at the bottom of the ocean, to devices monitoring pipelines in the middle of a desert. These IoT devices are built to be robust and survivable.
A global study by Deloitte and the MIT Sloan Management Review has stated that the Oil and Gas sector one of the least “digitally mature”.
Currently Oil and Gas are using IoT for uninterrupted production, asset maintenance, location intelligence, and supply chain planning. IoT sensors can be used during the extraction process all the way to delivery downstream as efficiencies are gathered through the entire production process. The hope is that industry will continue to mature in the IoT space, drive ROI.
While Oil and Gas assets are generally remote, they are not immune to cyber threats.
These types of attacks will continue to be a problem for the industry in the coming years, and malware and ransomware are not going away. Isolating of key infrastructure will not protect the industry in the interconnected world. Security will have to parallel the growth of IoT in the sector or more companies will become statistics.
In an industry with such a wide array of IoT devices, having visibility and the security to protect them will become an even greater issue for the industry in the future. NOVAM will protect against firmware and software changes on IoT devices, by automatically monitoring and mitigating malware and ransomware.
For more information visit https://www.novam.ai. For partnership opportunities, please send us an email at [email protected]
Follow NOVAM on Twitter and Facebook and follow the official NOVAM Telegram Group.