5 key takeaways from Gartner's digitalization trends for the oil and gas industry
The oil and gas industry is at a crossroads. As the energy demand grows, companies are under increasing pressure to find new and innovative ways to meet this demand while also reducing their environmental impact. Digitalization is emerging as a key driver of change in the industry, and companies that embrace digital transformation will be best positioned to succeed in the years to come.
According to the world-renowned research and advisory company Gartner, oil and gas companies continue to contend with several disruptive forces, such as rising climate concerns, accelerating energy transition, and competitive pressure from more digitally savvy peers.
“Consequently, companies in all oil and gas domains are expanding their use of digital technologies to create a broad spectrum of new business capabilities to create and maintain competitive performance,” writes Gartner analysts Rich McAvey and Simon Cushing in Gartner’s latest research on the oil and gas industry.
Five key takeaways for the oil and gas industry - according to Gartner
In Gartner’s latest research on the oil and gas industry, “Top Digital Trends Shaping the Oil and Gas Industry in 2023”, Gartner highlights several key trends and takeaways shaping the industry's digital landscape.
The five key takeaways that CEOs, CIOs, CDOs, and other C-levels in oil and gas companies should be aware of are:
- Responding to decarbonization: Environmental concerns are driving a shift in focus for digital innovation. Digital solutions are needed to optimize operations and assets for lower emissions.
- Extracting more value from digital investments: As digital strategies mature, companies are looking for ways to get a higher return on their investment. This involves workflow automation, data-driven decision-making, and collaboration with partners.
- Strengthening digital foundations: IT must be transformed to become more agile and efficient so technology better supports evolving business priorities.
- Intelligent operations: Leading companies are embracing digital technologies to create "intelligent assets" that can optimize performance, support autonomous operations, and manage risk.
- Cloud-to-edge integration: Oil and gas companies are increasingly adopting cloud and edge computing solutions to improve data accessibility, integration, and latency across the organization. These solutions should be tightly integrated.
In the report, Gartner points out four significant digital trends the oil and gas industry should be especially aware of:
- The cloud. The cloud is transforming the way oil and gas companies operate. By moving data and applications to the cloud, companies can improve scalability, agility, and security.
- Artificial intelligence (AI) and machine learning (ML). AI and ML are being used to improve operational efficiency, optimize production, and predict equipment failures.
- The internet of things (IoT). IoT enables oil and gas companies to collect real-time data from their assets, which can improve decision-making.
- Digital twins. Digital twins are virtual replicas of physical assets that can be used to simulate and optimize performance.
Read the blog article Deloitte Insights: 5 key trends affecting the oil and gas industry in 2024 >
Cegal Cetegra: The cloud platform for the energy industry
At Cegal, we recognize Gartner’s trends and takeaways. We aim to be a stellar and global leader in technology for the whole energy sector. To reach our goal, we hire the best technicians and people with extensive industry knowledge and competence, such as geoscientists and geologists. That's why we can create the market-leading technology platform for the whole energy industry, Cegal Cetegra.
Cegal Cetegra is a vendor-neutral cloud platform for the oil and gas industry. Cegal Cetegra provides a one-stop shop for all your data and applications, allowing you to leverage the power of the cloud, AI, ML, IoT, and digital twins to transform your business and gain a competitive advantage.
Cegal Cetegra offers several benefits for oil and gas companies, including:
- Improved efficiency and productivity: Cegal Cetegra can help you streamline your operations and improve productivity by automating tasks and integrating your data and applications.
- Reduced costs: Cegal Cetegra can help you reduce your IT costs by eliminating the need for on-premises infrastructure.
- Enhanced decision-making: Cegal Cetegra provides the data and insights you need to make better decisions about your business.
- Increased agility: Cegal Cetegra allows you to quickly and easily scale your IT infrastructure to meet your business's changing needs.
- Improved safety and compliance: Cegal Cetegra can help you improve safety and compliance by providing a secure platform for your data and applications.
Cegal Cetegra is a powerful and versatile cloud platform that can help oil and gas companies of all sizes achieve their digital transformation goals. With Cetegra, you can:
- Seamlessly integrate your legacy systems and applications with the cloud
- Automate tasks and workflows
- Gain real-time insights from your data
- Develop and deploy AI and ML applications
- Create digital twins of your assets
Gartner writes in the report: “Market volatility, geopolitical forces, and the energy transition make the next few years risky and uncertain for oil and gas companies.” At Cegal we are confident that Cetegra is the key to unlocking the power of digitalization in the oil and gas industry and reducing risk and uncertainty for the future.
For over 40 years, the analyst company Gartner has provided insights and expert guidance to enterprises worldwide. Gartner is a world-renowned research and advisory company that helps businesses make smarter technology decisions. They analyze trends, provide insights, and offer tools to guide companies, especially in the technology and IT area, but they also cover areas like finance and marketing.
Learn more about Cegal Cetegra >
Blog article photo: AI-generated.
