To comply with government regulations and protect intellectual property, several oil and gas companies are developing their IT infrastructure to control, monitor, and secure their critical information. Various IT companies such as CSC and IBM offer security solutions to the oil and gas sector so that these sectors can focus on their major administrative functions and primary business functions. The key security solutions include security risk management, data and network protection, and secure communication systems. The growing provision of security solutions in the oil and gas sector will, in turn, increase the deployment of IT solutions in this industry over the next few years.
One of the latest trends in this market is the establishment of a digital oil field framework. The digital oil field basically comprises technology-centric solutions that help oil and gas enterprises to leverage limited resources. Vendors are integrating digital oil field framework with project management methodologies to connect oil fields to office workspaces and to align the field with people, processes, and technology. The growing need to boost production and asset performance will compel the oil and gas companies to adopt digital oil field solutions in the coming years.
Segmentation by category and analysis of the IT spending market in the oil and gas industry
- Hardware
- Software
- IT services
