Is The Oil And Gas Industry Really Diminishing?

The oil and gas industry is growing at a compound annual rate of 7.5%. The oil and gas industry has seen some low points in recent times, considering the fact that the whole world is looking forward to green and clean energy. The industry really needed a helping hand to grow through a phase like this. Digital technology advancements have made a statement of importance to every single aspect. The oil and gas industry is no exception. IoT (internet of things) and new disruptive technologies are being put to use for a better understanding of the structure. The total oil and gas automation market was valued at $17.7 billion in 2020, which is growing at a compound annual growth rate of 7.5%. The market's projected value is to be $24.63 billion. Some of the operational techniques are already in use. The oil and gas industry has the perfect opportunity to make a transition and use #iot, #robotics, and #ai in order to be sustainable and less labor-intensive. While maintaining the environmental regulations and agreements, the changes are really promising and could yield positive results in the coming years.?

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