target audience: TECH BUYER Publication date: Jun 2024 - Document type: IDC MarketScape - Doc Document number: # US51004223
IDC MarketScape: Worldwide Consulting and Digital Services Providers for the Downstream Oil and Gas Industry 2024 Vendor Assessment
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Abstract
This IDC MarketScape evaluates leading consulting and digital services providers by qualitatively and quantitatively assessing their capabilities and strategies regarding their offerings for downstream O&G business. From a worldwide perspective, it aims to support O&G organizations in choosing their partners in their downstream business transformational journeys. It provides context for O&G companies evaluating vendors in the downstream domain, examines vendors' comparative success in the marketplace, and looks at how vendor offerings are evolving. The evaluation is based on a comprehensive and rigorous framework that assesses vendors relative to the criteria and highlights the most influential factors for success in this market, both in the short and long term.
"With the downstream business evolving — including sustainable refineries and the lube market, fuel customers' expectations, and future of gas stations — the digital business strategy is gaining more traction. Major downstream players are leveraging advanced technologies and sustainability-focused innovations to enhance operational efficiency and ensure environmental compliance. This approach helps maintain competitiveness and resilience amid regulatory pressures and market demands," said Gaurav Verma, research director, IDC Energy Insights. "Oil and gas companies recognize the need to revise their downstream business models and are seeking the right consulting and digital service partners for developing an effective digital-powered sustainable business road map that could secure their leadership positions in an ever-changing energy landscape."