Digital Twins in Oil and Gas – Thematic Intelligence

Digital Twins in Oil and Gas Thematic Report Overview

Digital twins are digital representations of physical assets, systems, people, or processes. They help detect, prevent, predict, and optimize the physical environment using artificial intelligence (AI), real-time analytics, visualization, and simulation tools. Digital twins are rapidly becoming a mainstay in oil and gas operations as companies strive to optimize asset performance and minimize unplanned outages. This aims to make oil and gas operations relatively safer while lowering the carbon footprint and improving profitability.

The ‘Digital Twins in Oil and Gas’ thematic intelligence report gives you an in-depth insight into the digital twins’ theme and the ways it will impact the oil and gas industry. It further entails a deep-dive analysis of the industry, including key market trends that will shape the oil and gas industry over the coming years. The report gives an insight into the market players and the competitive landscape within the theme.

Digital Twins in Oil and Gas – Key Trends

The main trends that will shape the digital twins theme over the next 12 to 24 months are classified into technology, macroeconomic, regulatory, and industry trends.

• Technology trends: The key technology trends impacting the digital twins theme are artificial intelligence (AI), digital partnerships, interoperability, internet of things (IoT), knowledge graphs (KGs), and metaverse.
• Macroeconomic trends: Creating national digital twins and using digital twins to develop effective climate change mitigation strategies are the key macroeconomic trends that will drive the digital twins market.
• Regulatory trends: Cyber regulation for digital twins is the predominant regulatory trend impacting the digital twins theme.
• Industry trends: Predictive maintenance, ESG, worker training and safety, cost-optimization, and facilitating autonomous operations are part of the industry trends impacting the theme.

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Digital Twins - Value Chain Analysis

The digital twins’ value chain is made up of six layers which are the physical, connectivity, data, platform, delivery, and services layer.

Physical layer: The physical layer value chain can be further segmented into connected things, cameras and lenses, sensors and microcontrollers, and microprocessors. IoT is the backbone for digital twins that connect the physical and virtual worlds. Digital twins use data collected from IoT sensors to create a digital representation of a physical object, person, or process. Sensors also help monitor the physical model’s condition and behavior in real-time using bidirectional communication. They gather real-time performance and working condition data and send it to virtual models, which help identify potential problems that may arise and support quick responses.

Digital Twins Value Chain Analysis

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Digital Twins in Oil and Gas – Competitive Landscape

Leading technology players

A few leading technology players making their mark within the digital twins theme are:

• ABB
• Aize
• Amazon

Leading  oil and gas players

A few leading oil and gas players who are using digital twins within their facilities are:

• ADNOC
• BP
• Eni

 Key Companies Deploying Digital Twins

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Integrated Oil and Gas Companies Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation

metrics.

• The risk screen ranks companies within a particular sector based on overall investment risk.

Integrated Oil and Gas Companies Sector Scorecard – Thematic Screen

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Scope

• This report evaluates the use of digital twins technology in the oil and gas industry.
• It provides an overview of the competitive positions held by oil and gas companies, and technology vendors in the digital twins theme.
• The report establishes a digital twins value chain and identifies key technology players across this value chain.
• It analyzes the market size of digital twins technology and presents growth forecasts till 2030.
• It also evaluates the market signals in terms of deals, patents, and company filings related to digital twins technology.

Reasons to Buy

• Identify recent technology, macroeconomic, regulatory, and industry trends in the digital twins theme.
• Identify potential opportunities for oil and gas industry players in the digital twins theme.
• Provides use case scenarios for digital twins technology in the oil and gas industry.
• Identify and benchmark key oil and gas companies and their role in the digital twins’
• Identify and benchmark key technology companies in the digital twins’ value chain.