Gases are used in almost every industry from food and beverage to mining, to healthcare, and beyond. Hence, it’s no wonder that the global industrial gas market is expected to be worth $161.8 billion by 2030, with a compound annual growth rate of 6.16%.
In view of all the markets that rely on industrial gases, the importance of a steady supply of high-quality gas cannot be overstated.
At the same time, the growing need to figure out environment-friendly solutions as well as follow the latest safety guidelines has led to several innovations in the gas sector. Let’s take a look at what we can expect in the coming years.
Artificial Intelligence and Machine Learning
Artificial intelligence (AI) and machine learning (ML) technologies have permeated almost all industries, including the gas market. They have both been used to put together a variety of insights on how to improve the decision-making process.
For example, the adoption of AI and ML can help detect potential failures, monitor safety parameters, keep track of leaks in storage, and assess damage more accurately.
Internet of Things (IoT)
IoT technology can optimize all equipment in the gas delivery and storage process. Smart sensors can, for instance, improve gas monitoring systems by offering real-time data collection. It can also contribute to advanced cylinder management, allowing companies to keep track of all assets across plants, branches, and customer sites.
Companies like nexAir are already leveraging their KnowHow by offering advanced cylinder management as well as using unique identification numbers and barcodes to help organize gas cylinders. In the near future, IoT technologies will help these processes Forge Forward.
Big Data and Analytics
Companies require a steady stream of high-quality gases. To deal with this massive demand, they must often rely on bulk supply systems. Big data and analytics technologies can be added into the mix to offer organizations additional insight and performance data. Meanwhile, engineers will have access to more visualization tools while organizations can keep a closer eye on their inventory.
Blockchain technology is known for offering an additional layer of security by decentralizing processes. In industrial settings, smart contracts can improve gas-related documentation while distributed ledgers can be used to keep track of contractors, employees, and supplier information.
Blockchain technology has already made inroads in various industries like retail and finance. It stands to offer similar benefits in gas operations.
Forge Forward With nexAir
Most industries across the world are embracing these advancements in technology, so it won’t be long before the gas industry follows. nexAir, one of the leading suppliers of gases across the Southeast, will remain at the forefront of new advancements in the industry.
Since the 1940s, we’ve offered high-quality gases to clients across industries, from aerospace to food and beverage to manufacturing. But at our core, we believe nexAir is more than just a supplier. We think companies cannot truly succeed without the right KnowHow, which is why we share our expertise and offer unmatched customer service.
Join us and together we can innovate, adapt, and Forge Forward into the future.
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