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IDC FutureScape: Worldwide Oil and Gas 2019 Predictions

Published by IDC Product code 345075
Published Content info 13 Pages
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IDC FutureScape: Worldwide Oil and Gas 2019 Predictions
Published: December 17, 2018 Content info: 13 Pages
Description

This IDC study provides the outlook of IDC Energy Insights' analyst team for the worldwide oil and gas industry for 2019, as well as the planning horizon for the next five years."Oil and gas companies have finally stopped waiting for the market to recover. They have begun down the path of building adaptable organizations based on digital capabilities, enhanced talent strategies, and market scalability. This realization is driving a rapid push to digital transformation," said Kevin Prouty, group vice president, IDC Energy Insights.

Table of Contents
Product Code: US44509818

IDC FutureScape Figure

Executive Summary

IDC FutureScape Predictions

  • Summary of External Drivers
  • Predictions: Impact on Technology Buyers
    • Prediction 1: By 2019, 70% of Upstream Oil and Gas Organizations Will Have Deployed a Cloud-Based Platform to Support Applications Such As Land Management and Hydrocarbon Accounting
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 2: By 2024, Over Half of Exploration Companies Will Have Developed a Unified Digital Twin Capability That Spans Geographies and the Entire Organization
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 3: Over 50% of Downstream Operations Will Deploy IoT in Isolated Functional Silos Until 2021, When IoT Platforms Will Be Deployed to Unify Data Governance and Workstreams
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 4: Corrosion Management Will Become the Primary Asset Performance Management Application for Nonrotating Equipment, with Over 50% of Oil and Gas Companies Deploying This Capability by 2020
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 5: By 2020, 100% of Oil and Gas Companies Will Have Invested More in Cloud-Deployed Applications Than in Supporting or Acquiring On-Premises Applications
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 6: By 2023, 100% of the Supermajors and Midstream Companies Globally Will Have Invested in Renewables and Started Deploying Charging Infrastructure to Retailers to Offset Declining Fossil Fuel Revenues
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 7: By 2023, 75% of New Assets Will Be Deployed with Some Self-Diagnosing and Self-Healing Capabilities
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 8: By 2021, Over 40% of Data Generated in Oil and Gas Production Plants and in the Field Will Be Collected and Orchestrated on IoT Edge Devices, with Data Historians as the Core Repositories
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 9: By 2019, 40% of Oil and Gas Companies Will Have Deployed Some Form of Virtual Muster Strategy to Improve Personnel Emergency Tracking
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 10: By 2024, 60% of Production Asset Maintenance Decisions Will Be Made by AI Operators, Without Human Intervention
      • Associated Drivers
      • IT Impact
      • Guidance

Advice for Technology Buyers

External Drivers: Detail

  • The Race to Innovate: Speed of Change, Delivery, and Operations Separates Thrivers and Survivors
  • Platforms, Platforms, Platforms: Industry Competes for Innovation at Scale
  • Sense, Compute, Actuate: Turning Data into Value
  • New Nature of Risk: Innovation Requires New Thinking in Security and Risk Management
  • Emerging Autonomy: Learning to Live with AI
  • Legacy Inertia: Retrofit the Old into the DX World
  • Reimagining the Material World: Revolutionized Processes Expand Technology Reach

Learn More

  • Related Research
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