Installation of IoT in Pipelines Can Reduce Oil Thefts Tremendously, Says Technavio

September 26, 2017

LONDON–(BUSINESS WIRE)–#Automation–Technavio’s latest market research report on the global
IoT market in pipeline management provides an analysis of the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The global IoT market in pipeline management is expected to grow at a
CAGR of more than 12%, during the forecast period. The demand for
natural gas, industrial water, and petrochemicals are expected to drive
the IoT market in pipeline management.

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The top three emerging market trends driving the global IoT
market in pipeline management according to Technavio research
analysts are:

Increasing oil thefts
Growth of deepwater pipelines
Drones for pipeline monitoring

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Increasing oil thefts

Oil exploration, storage, and transportation is the main job for the oil
production and transportation companies. To store and transport crude
oil safely is a tough task for oil companies as oil theft always makes
them suffer a huge economic loss with constantly rising oil price.
According to investigations, there are two common scenarios depending on
the way in which crude oil is transported. The first scenario is
stealing of crude oil from oil tank trucks, while the other is theft of
crude oil by drilling a hole into the pipeline.

“The installation of IoT in pipelines can reduce oil thefts to a
large extent. IoT technology can detect rupture in the pipelines and
instantly monitor the cause of such ruptures. This can reduce the loss
of revenue to a great extent and help in controlling the overflow of oil
from the pipelines by alerting the concerned personnel to oversee the
faults,” says Sushmit Chakraborty, a lead analyst at Technavio for automation
research.

Growth of deepwater pipelines

The prime function of pipelines is the transportation of natural gas
from the extraction source to markets. Any alteration to the dynamics of
the natural gas, transported by pipelines, is of utmost importance to
the industry. The natural gas pipeline market is witnessing some major
developments with advancements in technology. One of the most noteworthy
trends is the rise in deep-water operations.

Pipelines that function in deep-water are exposed to various problematic
situations. Corrosion of pipelines under water is a major problem. These
corrosions can often develop into a rupture or a leak that in turn can
result in oil or natural gas to pollute the water and disrupt the
natural habitat of marine animals. The involvement of IoT in pipeline
management can improve the design of pipelines to withstand under-water
corrosion and ensure the continuous maintenance of pipelines.

Drones for pipeline monitoring

The end-user industries are using drones to monitor their pipelines.
These drones are used for reporting a leakage, blockage, and uneven
distribution in pipelines. The use of drones has turned out to be
effective for the end-user industries, but these drones are susceptible
to errors by manual operators and are also incapable of covering a
larger area.

IoT technology not only helps in monitoring pipelines but also aids in
other processes such as pipeline design, route selection, and
distribution and maintenance of pipelines and related equipment. The IoT
technology requires a huge investment and is preferred by end-users only
when they have enough funds to invest.

“The vast amount of data generated by drones in pipeline inspection
and monitoring needs to be optimally recorded, stored, and analyzed for
future reference. This is where IoT solutions enable the assimilation of
vast chunks of process data under a single platform. Robotics and IoT
solutions are expected to shape the future of pipeline management during
the forecast period,” says Sushmit.

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