ISG to Assess Providers of Oil and Gas Industry Services

Rhea-AI Summary

Information Services Group (ISG) announced a research study focusing on digital innovation and operational efficiency in the oil and gas industry. The study, set to be published in December, will be part of the ISG Provider Lens™ reports and will cover North America and Europe.

The evaluation will include enterprise asset management, next-gen IT/OT services, data management, cloud computing, and energy transition services. The study aims to help oil and gas companies navigate the increasing demand for IoT, data analytics, AI, and support decarbonization strategies driven by regulations like the U.S. Inflation Reduction Act and Europe's Net-Zero Industry Act.

ISG has distributed surveys to 37 providers, and the findings will help enterprise buyers assess vendors and improve their operational processes. The research considers the impact of geopolitical events, such as the Russia-Ukraine war, on global energy trade patterns.

The study will produce four quadrants representing key service areas based on ISG's client interactions, helping businesses optimize operations, ensure compliance, and drive energy efficiency.

Positive

• ISG launched a comprehensive study to evaluate digital solutions in the oil and gas industry.
• The study will include reports covering North America and Europe, aiding regional market evaluations.
• Focus areas include enterprise asset management, next-gen IT/OT services, data management, cloud computing, and energy transition.
• Support for decarbonization strategies and compliance with regulations like the U.S. Inflation Reduction Act and European Net-Zero Industry Act.
• Increasing demand for IoT, data analytics, and AI expected to optimize production processes and improve safety.

Negative

• Geopolitical events like the Russia-Ukraine war are altering global energy trade patterns, presenting challenges.

Upcoming ISG Provider Lens™ study will evaluate services and solutions providers helping oil and gas companies achieve digital innovation and operational efficiency

STAMFORD, Conn.--(BUSINESS WIRE)-- Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining services and solutions providers helping oil and gas companies digitally transform to improve operational efficiency and prepare for future energy needs.

The study results will be published in a comprehensive series of ISG Provider Lens™ reports, called Oil and Gas Industry — Services and Solutions, scheduled to be released in December. Two regional reports – one covering the North America market and the other Europe – will evaluate services including enterprise asset management, next-gen information technology and operational technology (IT/OT) services, data management and cloud computing, and energy transition services.

Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

Technological advancements continue to play a transformative role in the oil and gas industry. Increasing demand for IoT, data analytics and AI, especially generative AI (GenAI), is expected in the next two years. These technologies are poised to optimize production processes, improve equipment maintenance through predictive analytics and enable remote monitoring for increased safety and efficiency.

Oil and gas companies are also seeking technology solutions to support decarbonization strategies and energy transition. Governments are enacting stricter regulations to combat climate change, with policies such as the U.S. Inflation Reduction Act and the proposed European Net-Zero Industry Act driving companies to reduce emissions. Such regulations necessitate a shift in capital allocation, with investments flowing toward clean and green processes such as carbon capture and storage, hydrogen production and renewable energy integration.

In addition, geopolitical events are altering global energy trade patterns. The impact of factors such as the Russia–Ukraine war on energy security and potential realignments in trade routes still remain a challenge for the industry.

“The oil and gas industry is facing a highly complex environment,” said Iain Fisher, director of ISG Provider Lens Research. “While fossil fuels remain a significant energy source, the winds of change are undeniable. Geopolitical tensions, the ongoing push for energy security and the relentless march toward a low-carbon future are all shaping the industry landscape.”

For the study, ISG has distributed surveys to 37 providers of oil and gas industry services and solutions. Working in collaboration with ISG’s global advisors, the research team will produce four quadrants representing the services and solutions the typical oil and gas company is buying based on ISG’s experience working with its clients. The four quadrants are:

• Enterprise Asset Management, evaluating services and solutions providers that help oil and gas companies optimize the performance and utilization of assets throughout their lifecycle, increase production uptime and reduce operational costs.

• Next-Gen IT/OT Services, covering service providers that help clients in the oil and gas industry increase efficiency, ensure compliance and minimize overall costs, with offerings including infrastructure services, application development and maintenance (ADM), IoT-based solutions, cybersecurity, remote monitoring, digital twins and more.

• Data Management and Cloud Computing, covering providers of cloud data and process management, storage, application and master data management services to the oil and gas industry, enabling centralization of data and processes and transition from legacy systems.

• Energy Transition Services, evaluating providers offering services helping oil and gas companies achieve net-zero carbon transition targets, implement energy efficiency initiatives, and drive new business models for the evolving energy ecosystem.

Geographically focused reports from the study will cover the global oil and gas technology market and examine products and services available in North America and Europe. ISG analysts Harish B (North America) and Mohd Aves Malik (Europe) will serve as authors of the reports.

A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as oil and gas service and solution providers can contact ISG and ask to be included in the study.

All 2024 ISG Provider Lens™ evaluations feature expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240703568204/en/

Press Contacts:



Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com



Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What is the focus of ISG's upcoming research study?

ISG's study will assess digital innovation and operational efficiency solutions for the oil and gas industry.

When will ISG's new reports on oil and gas industry services be released?

The ISG Provider Lens™ reports focused on the oil and gas industry will be released in December.

Which regions will be covered in ISG's oil and gas industry reports?

The reports will cover the North America and Europe markets.

What services will ISG evaluate in their study on oil and gas industry solutions?

ISG will evaluate enterprise asset management, next-gen IT/OT services, data management, cloud computing, and energy transition services.

How will ISG's study help oil and gas companies?

The study will help companies optimize operations, ensure compliance, improve vendor relationships, and support energy transition initiatives.

What impacts are geopolitical events having on the oil and gas industry according to ISG?

Geopolitical events, such as the Russia-Ukraine war, are impacting global energy trade patterns and posing challenges to the industry.