Smart asset monitoring provides systematic and coordinated activities through which the oil and gas sector can simplify equipment management. Also, asset health condition becomes a primary concern in the O&G business to promote quality production. If not, it increases the operational and maintenance costs that could hamper the overall productivity. Integrating IoT technology with the oil and gas business offers smart equipment management that helps reduce risks of abrupt breakdowns. The advanced sensor devices monitor the assets in real-time and send the information on the cloud platform for further processing. It uses relevant information and provides actionable insights related to the assetâ€™s health condition and performance.
Hence, we can say that IoT asset monitoring matters the most for the oil and gas industry as it increases machine efficiency and provides insights to make better decisions. Here is the infographic that states the importance of using the smart asset monitoring concept in the O&G sector.