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IDC FutureScape: Worldwide Oil and Gas 2018 Predictions

Published by IDC Product code 345075
Published Content info 19 Pages
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IDC FutureScape: Worldwide Oil and Gas 2018 Predictions
Published: October 31, 2017 Content info: 19 Pages
Description

This IDC Energy Insights study presents the IDC Energy Insights analyst team's outlook for 2018, and the 24-months-and-beyond planning horizon, through the lens of the 10 predictions that make up, in IDC Energy Insights' view, the framework for IT and line-of-business decision makers' and influencers' planning and execution of technology-related initiatives in the year ahead."Lower oil and gas prices have not only have forced oil and gas companies to reduce costs but are also a catalyst. Oil and gas companies are optimizing processes, while setting aside innovation funding to digitally transform their business. Among the focus areas are: moving to cloud, applying mobility applications, integrated platforms for big data and analytics, advanced analytics and cognitive and other important initiatives such as Cybersecurity, and asset performance management (APM)," said Chris Niven, research director of Oil and Gas, IDC Energy Insights. "Our research shows that oil and gas companies are rapidly adopting new and innovative solutions that help automate all activities and bring a holistic view of operations with greater insight and control to become more resilient, agile, and adaptable to change."

Table of Contents
Product Code: US43142417

IDC FutureScape Figure

Executive Summary

IDC FutureScape Predictions

  • Summary of External Drivers
  • Predictions: Impact on Technology Buyers
    • Prediction 1: By the End of 2018, 15% of Oil and Gas Companies Will Have Developed Solutions Leading to the Rollout of Collaborative Development Capabilities Based on Open Source Software and Systems Hardware
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 2: By 2019, to Overcome Upstream Production Data Silos, 75% of All Operators Will Be Able to Apply Analytics to Track Hydrocarbon Production to the Well Level for Accurate Accounting
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 3: By 2020, 25% of Large Oil and Gas Companies Will Have Implemented a Platform to Develop, Analyze, Model, and Simulate Best Practices in a Cognitive-Based Continuous Learning Environment
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 4: In Line with an Increased Focus on EHS Regulations and Performance, 25% of All Operators Will Have Deployed Comprehensive OMS Software Applications by 2019 to Connect All EHS Information and Thus Monitor, Flag, and Audit Potential Risks and Performance Issues
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 5: By 2018, 25% of All Large and Major Operators Will Have Invested in APM to Monitor, Analyze, and React to Real-Time Operational Performance for Predictively Resolving Asset Issues Before They Impact a Process
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 6: By 2019, 25% of Oil and Gas Companies Will Have Moved Critical Applications to the Cloud, Thus Improving Security, Efficiency, Performance, Governance, and Cost
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 7: By 2018, 75% of All Oil and Gas Companies Will Have at Least One Digital Transformation Initiative in Full Operation Deploying Cloud, Big Data and Analytics, Process Automation, or IoT for the Organization to Advance Their IT Ecosystem
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 8: By 2020, to Rapidly Diagnose and Help Solve Oilfield-Related Problems, 25% of Large Oil and Gas Operators Will Have Equipped Technology-Focused Talent with Cognitive Assistants and AR-Enabled Devices
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 9: By 2020, Supported by Stable Oil Prices, 75% of Oil and Gas Companies Will Have Increased Outsourcing with Their Preferred IT Partners
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 10: By 2020, 25% of Global Oil and Gas Companies Will Have Developed Digital Transformation Strategies Specifically to Address the Disruption of Hydrocarbon Supply and Demand by Unconventional Extraction, New Asian Refineries, and Potential Transport Problems
      • Associated Drivers
      • IT Impact
      • Guidance

Advice for Technology Buyers

  • Top Areas of Focus for Your Company to Consider

External Drivers: Detail

  • Pace of Change - Technology Capabilities Enable Sustainable Change at the Speed of Digital Business
  • Human Versus Machine - The Impact of AI and Automation
  • Global Volatility - Political, Social, and Economic Disturbance
  • Sense, Compute, Actuate - The New Data-Centric Paradigm
  • Platform Disruption - Unleashing Digital Innovation's Power for Scale
  • Cyberthreats - Theft, Ransom, and Cyberattack on the Rise
  • Innovation Impasse - Legacy Systems Constraining Transformation

Learn More

  • Related Research
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