Technavio provided a report with supporting market research in January last year in order to shed light on the global situation of enterprise pipeline management solutions (EPMS). The organization is a global technology advisory and research company that has over 500 specialized analysts. Their research resources consist of over 10,000 reports covering nearly 800 technologies over a wide network of 50 countries.
That being said, if there is any trend in any industry regarding technology, the team at Technavio will surely know. In their report, they signified what the most important and emerging market trends in pipeline optimization looked like from 2012 to 2017.
Their definition of emerging trends were factors that had the potential to impact the oil and gas market and significantly contribute to its growth. Let’s have a look at what they found with regard to trends in pipeline optimization.
Emerging Market Trends in Pipeline Optimization
Among the key factors that result in the growth of pipeline management solutions is the increased preference for transportation through pipelines. This transportation of oil and gas via pipelines is referred to as midstream operations. These operations are conducted via pipelines, railroads, trucking, and shipping.
Now that we know what the most preferred midstream operation is, let’s have a look at what the emerging market trends in pipeline optimization are.
1. The Emergence of IIoT
The IIoT or the Industrial Internet of Things is the next generation of oil and gas operation technologies and has superior advantages for connectivity during production. This technology had been commercialized all the way back in 2016 and its digitalization can still be seen expanding all over the globe. Now the IIoT has started using components that have the ability to identify and transmit conditional data.
2. Qualitative Data Acquisition with the Help of Big Data Analytics
The petroleum industry has experienced some major advances but the application of big data analytics was arguably what brought about a renaissance. Oil and gas companies can now be seen combining massive and complex data types that are obtained by geologists. This information is then used to favor the company’s drilling applications.
Its application in pipelines, however, has a lot to do with operating and controlling the parameters of instrumentation. This includes readings from devices, pressures, flow rates, and even temperatures.
3. The Growing Penetration of LNG Trade
LNG has been known to provide oil and gas companies with flexibility in the transportation of natural gases via sea routes. Back in 2015, the trade of LNG was found to be somewhere around 244.8 MT. Now, however, this trade has seen a 71.7 percent increase while exports can be seen going to countries like Russia, Australia, Qatar, and so many more.
To have a look at this report, you can click here.
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.