This IDC Perspective discusses the immediate and long-term challenges the COVID-19 pandemic is creating in the energy industry and examines this issue from the viewpoint of both the utilities and the oil and gas (O&G) sectors. The coronavirus is wreaking havoc across many industries and creating economic pressures on businesses around the globe. The document looks at how this virus is impacting the economics, business processes, and technology investments in both utilities and oil and gas sectors, both in the short term and the long term.
According to Andrew Meyers and John Villali, research directors for IDC Energy Insights, "Automation investments will be key particularly on the operation side of the house and should be taken into consideration. The efficient operations of assets such power plants and oil refineries will reduce costs significantly in the long run and also ensure that field technicians are armed with mobile workforce management tools and applications to provide workers the greatest safety and the ability to work quickly and efficiently while in the field."