Internet of Things and Data Analytics Handbook

31 IoT REVOLUTION IN OIL AND GAS INDUSTRY

SATYAM PRIYADARSHY

HALLIBURTON Landmark, Houston, TX, USA

31.1 INTRODUCTION

Internet of Things (IoTs) is a popular term in the context of the emerging technology revolution that has created a highly connected world. IoT can be viewed as a concept that promises to connect everything, everyone, and everywhere forever. One of the most promising applications of this ubiquitous connectivity will be Augmented reality—the new way of looking at the connected world. Any application that leverages ubiquitous connectivity will be a use case of IoT irrespective of the industry.

As the Internet was gaining popularity and usage in connecting people, another revolution in terms of radio frequency identification (RFID) was also gaining momentum for tracking and monitoring of business assets and inventory. In that context, the first use of the term Internet of Things was proposed by Kevin Ashton in reference of optimizing supply chain [1, 2], but “The Internet of Things” as a concept was first coined and used by MIT Auto‐ID Center and linked to RFID and electronic product code (EPC). In brief, IoT refers to the complex network of software, physical, and virtual entities which are embedded or implemented in devices that have software elements to performing activities that are predetermined or by leveraging computing paradigm. Here devices include sensors, smartphones, tablets, computers, electronic products, RFID tags, wearables, and many others. These ...