Detechtion recognized as a Sample Vendor in the Gartner ®   Hype Cycle™  for Oil and Gas, 2024  Report

This year, Detechtion was fortunate to be included as a Sample Vendor in not one, but two technology categories – IoT in Oil and Gas and Asset Performance Management.

What is the Gartner Hype Cycle?

According to Gartner research methodology, the Hype Cycle is broken into five phases of a technology’s life cycle:

• Innovation Trigger: A potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist and commercial viability is unproven.
• Peak of Inflated Expectations: Early publicity produces a number of success stories — often accompanied by scores of failures. Some companies take action; many do not.
• Trough of Disillusionment: Interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.
• Slope of Enlightenment: More instances of how the technology can benefit the enterprise start to crystallize and become more widely understood. Second- and third-generation products appear from technology providers. More enterprises fund pilots; conservative companies remain cautious.
• Plateau of Productivity: Mainstream adoption starts to take off. Criteria for assessing provider viability are more clearly defined. The technology's broad market applicability and relevance are clearly paying off.

With that in mind, let’s look at this year’s Hype Cycle for Oil and Gas and see where Detechtion is recognized .

As Gartner states in the report, “Our 2024 Hype Cycle is well-balanced, with important innovations positioned at all stages. Strategically significant technologies, such as intelligent industrial assets, composite AI, and cyber-physical systems, have recently emerged. In total, just over 19% of the technologies in the Hype Cycle are rising from the rigger and 22% are at the peak."

"Familiar technologies, such as computer vision, edge computing, generative AI and real-time remote operations, continue making difficult but steady progress, with 22% of the technologies working through the trough and 27% on the slope toward maturity. Despite facing unique technical and nontechnical challenges (such as competing internal priorities), each technology is making progress toward mainstream maturity/adoption.”

Within the Hype Cycle, Detechtion is recognize as a sample vendor within two segments of the report. Below is a summary of those two technologies.

IoT in Oil and Gas: Ascending the Slope of Enlightenment

Internet of Things (IoT) has been steadily maturing as a technology for many years, and it’s no surprise that the maturity is entering the early mainstream market, as more and more vendors and consumers continue to produce and adopt these as part of their overall ecosystem. For the Oil and Gas Space, Gartner states that “IoT is transforming the entire value chain, affecting seismic data capture, asset operations, modeling/analytics, workflow automation, renewables, services and retail/wholesale marketing and trading.”

The strength of Detechtion’s solution lies in the ability to leverage IoT as part of the Operation Technology (OT) side of a producer’s investment. With devices like our Enbase Hub that is help operators monitor and control remote compression fleets, create more visibility into potential risks, and leverage data to help optimize for sustainable production, Detechtion’s IoT capabilities make for a worthy inclusion as a sample vendor to look at.

Asset Performance Management: Entering the Early Mainstream Market

Asset Performance Management (APM) has long been a key component of an organization’s technology ecosystem, and sits further ahead on the Hype Cycle curve as it begins to enter the plateau of productivity. Within the report , Gartner states that “Organizations invest in APM tools and technologies to reduce unplanned outages and repair work, improve asset availability and safety, minimize maintenance costs, and reduce the risk of failure for critical assets.”

Detechtion's solutions help producers in the industry to do all of the above, while maintaining a comprehensive view of their fleet's utilization by leveraging physics-based modelling and visualization. As a result of this comprehensive view, our clients are able to reduce unplanned downtime, increase production, prevent failures, and reduce costs associated with unplanned maintenance.

Want to see Detechtion for yourself?  Schedule a Demo with our team!

DISCLAIMER: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.