Digital transformation for large capital projects in energy can unleash profitability and safety
Explore how digital transformation for large capital projects in energy can unleash profitability and safety. In this whitepaper, IDC, a leading, global, independent research and analyst firm, answers the question “Could digital transformation be a way to increase revenues and margins for companies involved in large capital projects, while also improving project and worker safety?”
To answer this question, IDC developed a digital maturity model for large capital projects in the energy sector and uses it to assess both EPCs and Owner-Operators. The analysis is based on interviews and data from firms in both the oil/gas and the power industries. The study shows:
- 77% of companies involved in large capital projects (EPCs and asset owners) are about to start their digital transformation journey.
- Higher digital maturity translates into better performance.
- Worker safety shows the same positive trend.