Industrial and oil & gas markets investing in hybrid cloud to reduce IT costs
Companies that automate migration and day-to-day management plus standardize connectivity will gain a crucial edge, finds Frost & Sullivan
SANTA CLARA, Calif. — COVID-19 has left no business untouched and impacted more than 75% of the world’s manufacturing output. The oil and gas (O&G) industry is no exception and has undergone a tectonic and likely enduring change since the start of the pandemic. One of the outcomes of this altered business environment is the surge in the adoption of cloud technology.
Frost & Sullivan’s latest thought leadership paper, Seven Business Imperatives for Industrial Companies to Prepare for the New Normal, discusses the impact of the COVID-19 pandemic on industrial companies and the manufacturing process worldwide. It presents the insights of industry leaders and the lessons they are learning about the strategies an organization can leverage as a new normal unfolds.
“Cloud-based technology is empowering cross-functional and geographically dispersed teams to work more collaboratively and reduce time-to-decisions through unlimited scalability,” explained Chirag Rathi, Consulting Director | Industrial, Frost & Sullivan, in a prepared statement. “The O&G industry can harness a DevOps platform and develop an automation roadmap to streamline processes and reduce lift-and-shift challenges. It can also leverage the flexibility of hybrid clouds to reduce overall IT costs by investing in the right open-source technologies.”
The key imperatives for cloud adoption for the O&G industry in a post-COVID environment include: