The processes in the Oil & Gas industry, both critical and non-critical, need to be monitored with utmost accuracy. Maintaining the assets and collecting the data from various machines, sensors, etc. requires a full-proof mechanism to preserve the integrity of the data. This is can be achieved by using Industrial Internet of Things (IIoT) powered devices for efficient management of processes in the oil terminals.
“The ideal factories which are "industry 4.0" powered have machines enabled with wireless connectivity and sensors, networked to the smart devices, capable of monitoring, collecting, storing the data over the cloud and making smart decisions with minimal human intervention.”
While a bunch of industry leaders has biased opinions about the impact of Industry 4.0 on their business or identifying the optimum ways to adopt it, several others are setting up smart machines and gearing up for a secure future for improving their business.
The global fuel reserves will soon become extinct in next 50 years. The exhaustive use of this non-renewable resource has raised an alarm for effective usage of available fuel. With the advent of IoT, application of GPS fuel monitoring system has boosted the functionality of vehicle tracking systems providing the users with information about the location co-ordinates, speed of the vehicle, and various other parameters related to fuel monitoring.
The ability to process real-time data analytics for condition monitoring of equipment or assets & anticipating or eliminating the probability of the asset breakdown is termed as Predictive Maintenance.
By 2023, the global projections state that close to 83% of the manufacturing units will be incorporating predictive maintenance for shop floor activities. Additionally, predictive maintenance is one of the value propositions of Industrial IoT technology which is catalyzing industrial automation across geographies.