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TECH BUYER Aug 2019 - IDC PlanScape - Doc # AP45334619

IDC PlanScape: Digital Transformation for Connected Assets

By: Emilie DittonAVP, Energy Insights and Manufacturing Insights, Kevin ProutyGroup Vice President, Energy and Manufacturing Insights

Abstract

This IDC PlanScape presents a framework that enables companies across asset-intensive industries, such as manufacturing, mining, oil and gas, and utilities, to develop or improve their own road map for the implementation of digitally transformed asset operations. For each of these industries, IDC's digital transformation (DX) taxonomy sets out connected assets as one of the four strategic priorities. The connected asset strategic priority relates to how companies within industrial asset-intensive industries must transform their asset operations for greater insight, efficiency, and management of asset performance.

"The asset operations of industrial organisations across manufacturing, mining, oil and gas, and utilities form the bedrock of the operation. Asset and maintenance costs also represent the largest capital and operating costs for most organisations by some margin. The ability to run a connected asset operation that allows for effective management of asset performance is a critical part of DX in the industrial sector. IDC's research shows that only 50% of assets are connected on average, and many companies will have far lower rates. Moving along the road map of connectivity, instrumentation, analytics, and intelligence is critical to the overall end state of realising agility and resiliency for asset-intensive organisations," states Emilie Ditton, associate VP, IDC Energy Insights.


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