This IDC MarketScape evaluates APM providers by qualitatively and quantitatively assessing their capabilities and strategies regarding their offerings across all value chain segments of the oil and gas (O&G) industry. With the worldwide perspective, it aims to support O&G organizations in choosing their partners in their asset-centric transformational journeys. It provides context for O&G companies evaluating vendors in this area, 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.
"Oil and gas operators recognize that asset performance is critical to positive economics in the current environment, and they have made significant investments in APM solutions to capture that value," said Andrew Meyers, research director, IDC Energy Insights.
"At this unprecedented time, asset-centric solutions such as APM and digital twin have been grabbing the attention of O&G companies for maximizing remote assets' performance with minimum human intervention. Partner selection is crucial as not all O&G firms can create value out of their operational asset management initiatives. To avoid the common pitfalls, be mindful of the essential success factors of APM solutions such as third-party integration capabilities, rich failure mode library, and industry expertise," said Gaurav Verma, research manager, IDC Energy Insights.
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