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 GlobalData’s survey, the report aims to provide a better insight to ICT vendors and service providers when pitching their solutions to energy companies.

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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 indepth 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
Scope

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 longterm 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.
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Table of content

Key findings
Key implications for ICT vendors
Executive summary
Survey demographics
ICT budget changes
ICT budget allocation by core technology area
Hardware budget breakdown
Software budget breakdown
Third party IT services expenditure
Communications expenditure
Cloud computing budget
ICT budget allocation by function
Outsourced IT functions
ICT investment priorities and vendor satisfaction
Business intelligence
Enterprise applications
Internet of Things IoT
Cloud Computing
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
Business challenges
Appendix

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