ICT Investment Trends in the Energy Sector: Digital transformation and disruption will impact ICT investment strategies
"ICT Investment Trends in the Energy Sector", presents the findings from a survey of 143 energy companies regarding their Information & Communications Technology (ICT) investment trends. The survey investigates how energy companies currently allocate their ICT budgets across the core areas of enterprise ICT expenditure: hardware, software, IT services, communications, and consulting.
The report illustrates the core technologies that energy companies are investing in, including business intelligence, enterprise applications, IoT, and cloud computing. The survey also highlights the approach to purchasing technology adopted by energy companies. Through GlobalDatas survey, the report aims to provide a better insight to ICT vendors and service providers when pitching their solutions to energy companies.
The energy sector (oil and gas companies) has been the biggest sector in terms of dollar value and it currently contributes a significant amount towards the national GDP of any country. However, plummeting oil prices and mounting climatic concerns have pushed the sector to look for advanced technological solutions in order to achieve sustainable growth.
Meanwhile, technologies such as Internet of Things (IoT) and cloud computing are finding pervasive adoption among energy companies who are increasingly deploying these disruptive forces of transformation to attain a competitive advantage in the sector. Therefore, ICT vendors offering products and services in these domains clearly have good growth opportunities in this market.
In particular, it provides an in-depth analysis of the following -
- How ICT budgets are set to change in 2017 in terms of their overall size
- Allocation across the core elements of IT spend, including hardware, software, services, communications, and consulting
- Distribution of ICT money in areas such as the networks, applications, service desk, and data centers
- Which ICT functions energy companies are interested in outsourcing
- Energy companies investment priorities based on their budget allocations across core technology categories such as business intelligence, enterprise applications, IoT, and cloud computing
- Factors that are influencing energy companies investments in each technology category
- How energy companies IT budgets are currently allocated across various segments within a technology category
- Energy companies distribution of their ICT budget across various segments within a technology category
- Vendor satisfaction ratings for various core and advanced technology categories
- Insight into energy companies preferred buying approaches
- Business and IT objectives that energy companies are looking to achieve through their IT investment strategies
- Factors that are influencing energy companies decisions to select an ICT provider
- Approximately 61% of respondents are planning to increase their total ICT budget in 2017, by leveraging technology advancements to improve business functions and reduce cost to subdue the impact of the ongoing decline in oil prices that is expected to have long-term effects on the industry.
- The survey finds that energy companies are planning to allocate 35% and 34% of their cloud computing budget to software as a service (SaaS) and infrastructure as a service (IaaS) in 2017 respectively.
- For 55% of enterprises in the energy sector, the decision to purchase cloud solutions is taken solely by the IT department with the dedicated aim of achieving process transformation in their existing business operations.
Reasons to buy
- Understand how the energy companies ICT landscape is set to change in 2017 to prioritize your target market
- Comprehend how ICT money are being allocated by energy companies in specific geographies and size bands to improve your market penetration
- Make effective business decisions by recognizing the opportunities within each of the core areas of ICT spend (hardware, software, IT services, telecommunications, and consulting)
- Realign your sales initiatives by understanding the current strategic objectives of energy companies
- Enhance your market segmentation with the included, detailed breakdown of opportunities within selected technology categories (business intelligence, enterprise applications, IoT, and cloud computing)
- Prioritize your focus areas by understanding which factors are influencing energy companies decisions when selecting an ICT provider
- Understand the changes in customers priorities and identify the business objectives that energy companies are looking to achieve through their ICT investment strategies.
Key implications for ICT vendors
ICT budget changes
ICT budget allocation by core technology area
Hardware budget breakdown
Software budget breakdown
Third party IT services expenditure
Cloud computing budget
ICT budget allocation by function
Outsourced IT functions
ICT investment priorities and vendor satisfaction
Internet of Things (IoT)
Business objectives influencing IT investment strategy
ICT provider selection
Key decision makers for purchasing technology
Sector specific trends
IT expenditure plans for specific technology areas
Technology areas receiving the largest investment
A Predictive Emission Monitoring System (PEMS) is an advanced software-based system used to monitor and predict the level of emissions from industrial processes. PEMS involves the use of automated sensors,View Report
The US-China trade war, supply chain disruptions caused by COVID-19 and geopolitics, and the rise of emerging technologies have played key roles in affecting the global ICT industry since 2020.View Report
Enterprise ICT Investment Trends in Pharmaceuticals Sector, 2021 UpdateAccording to GlobalDatas Information & Communication Technology (ICT) decision makers survey, the largest share of enterprise ICT budget in the pharmaceuticals sectorView Report
Enterprise ICT Investment Trends in Medical Devices Sector, 2021 UpdateAccording to GlobalDatas Information & Communication Technology (ICT) decision makers survey, the largest share of enterprise ICT budget in the medicalView Report
Fill The Form For Sample Request