Market Research Logo

IDC FutureScape: Worldwide Oil and Gas 2019 Predictions

IDC FutureScape: Worldwide Oil and Gas 2019 Predictions

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.

Please Note: Extended description available upon request.


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

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report