Energy Company Investments in Digital Transformation Continue

Digital transformation (DX) remains a high priority for energy companies. Worldwide DX spending is forecast to reach nearly $3.9 trillion in 2027 with a five-year compound annual growth rate (CAGR) of 16.1%, according to the International Data Corp. The largest use case – Innovate, Scale, and Operate – includes supply chain management, engineering, design and research, operations, and manufacturing plant floor operations. The second largest use case – Back-Office Support and Infrastructure – features accounting/finance/billing, human resources, legal, security and risk, and enterprise Information Technology.