Technology has impacted industries in multiple ways, bringing innovation and creating significant value for society. Technology’s impact may be either radical, incremental, disruptive or architectural. James Watt’s steam engine heralded the 1st Industrial Revolution, while computers led the most recent. The primary objective of this study is to critically evaluate the gaps in Internet of Things (IoT) adoption within India's petro-retail sector, particularly in terms of meeting customer service expectations. This research is of significant importance as it provides a comprehensive review of existing literature, case studies, and published research across various sectors, including retail, telecommunications, manufacturing, supply chain management, and oil & gas. Technological advancements have significantly influenced both consumers and industries and just as the internet revolutionized human interactions, IoT is poised to transform machine interactions. The integration of connectivity with everyday objects has redefined our interactions with these devices.
Industries such as healthcare, manufacturing, and
telecommunications have already experienced substantial changes from IoT
implementations. However, IoT adoption varies significantly by sector in the
oil and gas industry. The upstream sector, which focuses on exploration and
drilling, has embraced IoT extensively, while the midstream sector, handling
transport and storage, has applied IoT in more selective areas. In downstream
operations, particularly refining and retail, IoT adoption remains limited.
Although IoT solutions are generally employed for cost optimisation and
operational management, their impact on the petro-retail sector has yet to be
fully realised.
The study concluded that given the increasing influence of
technology on consumer lifestyles, IoT could significantly elevate customer
experiences in petro-retail, maximising both service quality and revenue. As
IoT becomes integral to future society, its influence on the service industry,
including petro-retail, is expected to be substantial. Therefore, an analysis
of the current adaptation gaps in petro-retail IoT adoption will provide
valuable insights for academics and industry managers in oil and gas,
facilitating further research, study, and practical implementation.
Author (s) Details
Santanu Purohit
School of Business, University of Petroleum & Energy Studies, Dehradun,
India.
Sujoita Purohit
Mohanlal Sukhadia University, Udaipur, Rajasthan, India.
Arvind Kumar Jain
School of Business, University of Petroleum & Energy Studies, Dehradun,
India.
Please see the book here:- https://doi.org/10.9734/bpi/srnta/v10/3555
No comments:
Post a Comment