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Transformation
With energy demand set to surge 30 percent by 2040 , organizations are under pressure to ensure their existing business model transformations are on schedule to meet demand , and stay ahead of the competition .
Recent IFS research found the majority of energy , utilities and resources ( EUR ) companies have fallen behind schedule when finishing their transformations - currently , only 17 percent of energy companies have completed their digital transformation journeys . Thankfully , organizations recognize more must be done - now , 57 percent of oil , gas and utility companies that have digital transformation projects are looking for a composable platform to support the entire journey . For over 60 percent of energy organizations in North America , it ’ s now important to move from scheduled to predictive asset maintenance to improve asset maintenance and monitoring .
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