STAMFORD, Conn.--(BUSINESS WIRE)--Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining service providers that are meeting the changing needs of oil and gas companies in the digital age.
The study results will be published in a comprehensive ISG Provider Lens™ report, called Oil and Gas Industry — Services and Solutions, scheduled to be released in January 2023. The report will cover companies offering services – including asset management, capital projects management, cloud computing and energy transition services – that help oil and gas companies innovate and improve their operations.
Oil and gas company 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.
The oil and gas industry is going through major changes, including rising demand, declining inventory and significant disruptions, such as the one resulting from the Ukraine crisis. While these forces are currently driving prices up, companies face growing challenges around price volatility, worker safety, remote asset monitoring and data access. At the same time, the industry is beginning to focus on making the transition to low-carbon resources.
“The changes hitting the oil and gas sector right now are making efficient operations and digital innovation more important than ever,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Companies need new capabilities like cloud computing, AI, automation and operational security, and service providers are making this possible.”
ISG has distributed surveys to more than 100 oil and gas services and solution providers. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and solutions the typical oil and gas enterprise is buying, based on ISG’s experience working with its clients. The five quadrants are:
- Enterprise Asset Management, evaluating providers of EAM services and solutions that help oil and gas companies increase asset performance, extend the useful life of assets and reduce operational costs.
- Next-Gen IT/OT Services, assessing providers of IT managed services to the oil and gas industry, including application development and maintenance, cybersecurity and IoT-based solutions, that support the convergence of IT and OT and help clients operate efficiently and comply with regulations.
- Capital Projects Management (CPM), covering providers that offer oil and gas CPM services that allow clients to design and carry out complex, capital-intensive projects on time and within budget.
- Data Management and Cloud Computing, evaluating providers of data handling and cloud services for oil and gas companies, enabling the transition from legacy systems and the centralization of data and processes in the cloud.
- Energy Transition Services, assessing providers that offer a range of energy transition services that allow oil and gas companies to meet their net-zero carbon transition targets and develop new business models.
Geographically focused reports from the study will cover the global oil and gas technology market and examine products and services available in North America, the U.K. and the Nordics. ISG analysts Swadhin Pradhan, Harish B, Mohd Aves Malik and Hemant Kumar Chandak will serve as authors of the reports.
All 2022 ISG Provider Lens™ evaluations now feature new and 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, 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.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 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 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 more than 1,300 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.