Every sector in the gas and oil industry is adopting IoT across the value chain: upstream, midstream, or downstream, extracting fuels from the ground and transporting them to the refinery till the end-user is a critical task. There are too many points to monitor along with the way from drilling equipment, pipelines, transportation, and logistics. It’s found that the upstream industry (initial discovery and extraction of oil) loses billions of dollars every year due to non-productive time on breakdowns and maintenance.
Properly monitoring and managing levels inside these tanks can help owners and asset managers increase productivity and profitability. Growing demand for IoT-based tank-level monitoring systems is the key factor driving the market. The market size is expected to grow from $0.75B in 2020 to $1B by 2025 growing at a CAGR of 6.9%. 
Syrma’s Oil Tank Level Monitoring IoT Solution
The levels of oil and fuel in storage tanks must be continuously monitored because of strict safety and environmental requirements. Overfilling or product discharge on deck and into the sea could have adverse effects on humans and the environment. These tank monitors are battery-powered and capable of wirelessly transmitting information from anywhere they are deployed and give us the information in real-time and keep the user alerted on the necessary actions to be taken. Syrma’s IoT solution is capable of monitoring oil tanks in real-time across multiple sites.
Data the New Oil:
Technology disruptions and accessible data have forced oil and gas companies to begin the digital transformation. With millions of connected devices on the field, a mountain of data is collected by the oil and gas companies. Utility companies alone can process up to 1.1B data points per day and large refineries generate 1TB of raw data every day. It’s challenging for companies to receive their sensitive data from equipment operating remotely with limited connectivity or high bandwidth and then transmit that data to a central location. This creates a new opportunity for more edge computing devices into their process to analyze critical data as it’s collected and apply insights for improving efficiency, accuracy and reducing risk.
Future of IoT in Oil & Gas:
According to research, it is estimated that the IoT potential could reach $5.5T to $12.6T By 2030, and out of that it is expected that the oil and mining industry will leverage close to $930B in the next 10 years. Rising safety and regulations on the extraction sites in remote locations, increasing price of equipment maintenance demand faster adoption of IoT devices in the oil and gas industry. These IoT devices enable key features like remote monitoring, asset tracking, and predictive maintenance to the industry and help improve its operational efficiency, and paves way for business growth. 
Backed by 40 Years of Expertise
We contribute our 40 years of design and manufacturing expertise spanning multiple diverse markets. We look forward to discussing how we can deliver world-class products for OEMs across the globe. We understand our home Indian market, familiar with its vast regulatory and selling environments. We foster growth opportunities within India through our strong technology incubation ecosystem. We also assist global OEMs in entering the Indian market by leveraging the local supply chain and favorable operating environments for cost reductions.
Our flagship Chennai location opened in 2006 and lies within a Special Economic Zone (SEZ) for electronics manufacturing, offering economic incentives for imports and exports. This primary facility is within 90 minutes of the Chennai seaport and 20 minutes to the international airport. Additional road and rail connectivity links to the rest of India and beyond and infrastructure advantages with faster import and export clearances. We also have labor force flexibility, both technical and manual, to scale to demand rapidly.
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