The oil production in the U.S is expected to rise from 8.7 M Barrels per day in 2017 to 10.3 M Barrels per day by 2024 ~ Energy Information Administration
“U.S., Russia, China & India IoT in Liquid Production Market - Industry Analysis & Opportunity Evaluation 2016-2024”
Rising development of smart infrastructure in developing and developed nations such as U.S., Russia, China and India and others is the key factor behind the positive growth of internet of things (IoT) in liquid production market. Additionally, smart cities, municipalities are looking for ways to become more efficient by the use of IoT since IoT solutions provide several options to save money, improve productivity and serve their constituents with better services.
The positive growth of end use industries and advancements in IoT components are creating a favorable environment for the growth of U.S. IoT in liquid production market. The U.S. IoT in liquid production market reached USD 5,159.0 Million in 2016 and is expected to reach noteworthy revenue by the end of 2024, expanding at a CAGR of 16.3% over the forecast period i.e. 2017-2024. Moreover, Russia is predicted to expand at a CAGR of 14.8% over the forecast period. In addition to that, China IoT in liquid production market is expected to reach noteworthy revenue by the end of 2024 as compared to USD 3,754.8 Million in 2016. Further, India IoT in liquid production market is expected to achieve absolute $ opportunity of USD 2,315.8 Million between 2017 and 2024.
Innovation in Technology & Digitalization to Diversify R&D IoT Projects
The positive growth of end use industries and readiness to adopt IoT in liquid production to increase efficiency and optimization are likely to be the dynamic factors behind the growth of the IoT in liquid production market in future. Further, adoption of IoT in Oil & Gas industries has allowed them to act strongly and quickly in real-time as safety and regulatory issues arise.
The growing investment by industries in advance production technologies is providing growth opportunities to the IoT in liquid production market. For instance, the Hewlett-Packard, an American multinational information technology company, introduced its internet of things (IoT) platform for managing a wide array of connected devices.
Further, falling prices of IoT sensors, continuous enhancements and development of user friendly application enabled IoT platforms along with real-time monitoring among others are expected to favor the growth of IoT in liquid production market in U.S., Russia, India and China.
Giant Players’ Expertise to Minimize the Barriers faced by U.S., Russia, India and China IoT in liquid production market
According to Research Nester, complexity and high cost related to the development of internet of things (IoT) platform combined with growing rate of cyber-crimes and rising security concerns are expected to limit the growth of the IoT in liquid production market over the forecast period.
The report titled “U.S., Russia, China & India IoT in Liquid Production Market - Industry Analysis & Opportunity Evaluation 2016-2024” delivers detailed overview of the U.S., Russia, China & India IoT in liquid production market in terms of market segmentation by application, by component, by software & platform and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the U.S., Russia, China & India IoT in liquid production market which includes company profiling of IBM Corporation, Accenture PLC, Amazon.com, Cisco Systems Inc., Hewlett-Packard, Intel Corporation, Alcatel-Lucent, Google LLC and Atmel Corporation.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the U.S., Russia, China & India IoT in liquid production market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.