IDC FutureScape: Worldwide Oil and Gas 2023 Predictions

IDC FutureScape Figure

• Figure: IDC FutureScape: Worldwide Oil and Gas 2023 Top 10 Predictions

Executive Summary

IDC FutureScape Predictions

• Summary of External Drivers

• Predictions: Impact on Technology Buyers

• Prediction 1: By 2024, 50% of Midstream and Downstream Players Will Have Deployed AI/ML Technologies to Automate Data Analytics Life Cycle, Freeing Up Data Resources and Operationalizing Data-Driven Decision Making

• Associated Drivers

• IT Impact

• Guidance

• Prediction 2: By 2026, 40% of Oil and Gas Operators and Processing Companies Will Utilize Simulation Technologies to Estimate and Reduce Emissions on the Enterprise Level

• Associated Drivers

• IT Impact

• Guidance

• Prediction 3: By 2024, Driven by Environmental Goals, 60% of Oil Majors Will Embrace Multisource Innovation for Sustainability-Focused Solutions, with Digital Platforms Supporting Data and IP Sharing

• Associated Drivers

• IT Impact

• Guidance

• Prediction 4: By 2027, 40% of Integrated O&G and Independent Midstream Firms Will Have Scaled Up CCSaaS Business Model, Creating a New Revenue Stream While Enabling Other Hard-to-Abate Sectors to Decarbonize

• Associated Drivers

• IT Impact

• Guidance

• Prediction 5: By 2027, 60% of O&G Majors Will Use Private 5G or Satellite with Edge Compute, Enabling Remote Operations and Real-Time Video Surveillance and Analytics to Improve Site Security and Safety Management

• Associated Drivers

• IT Impact

• Guidance

• Prediction 6: By 2024, 50% of O&G Firms Will Use Drones with Infrared Detection Technology and SaaS-Based Analytics Capabilities to Optimize Maintenance, Inspection, and Leak Detection with Real-Time Data Insights

• Associated Drivers

• IT Impact

• Guidance

• Prediction 7: By 2026, 40% of Onshore Exploration and Production Companies Will Bridge Field Labor Shortages with Automation Through Robotics, Edge Computing, and Connectivity

• Associated Drivers

• IT Impact

• Guidance

• Prediction 8: By 2025, 60% of Companies with Heavy Infrastructure and Processing Assets Will Invest in Cyberprotection and Counteraction Techniques into Business Systems and Processes to Prevent Spillover Attacks

• Associated Drivers

• IT Impact

• Guidance

• Prediction 9: By 2025, 50% of Upstream and Downstream Companies Will Reskill or Employ Staff to Build Internal Digital Engineering Teams to Facilitate and Accelerate DX Programs, Improving Operational Visibility

• Associated Drivers

• IT Impact

• Guidance

• Prediction 10: By 2025, 85% of Upstream Companies, Driven by Cost Pressures, Will Be Compelled to Streamline Back-Office Operations Using RPA and Outsourcing and Will Adopt Public Cloud to Increase Profitability

• Associated Drivers

• IT Impact

• Guidance

Advice for Technology Buyers

External Drivers: Detail

• Digital Business — Stepping Stone to the Future Enterprise

• Meaningful Intelligence — Differentiated Decision Power

• Storms of Disruption — Accelerating, Interconnected Uncertainty

• Ecosystem-Based Innovation — Driving Enterprise Value

• Work Mode Upheaval — New Models and Leadership

• Geopolitical Reality — Sovereignty in the Digital World

• Mainstream ESG — Sustainability Is Measured and Mandatory

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• Related Research