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Geopolitical tensions, fluctuating energy demands, environmental concerns and the increase in renewable energy sources have posed multiple challenges for the traditional fossil fuel sector. Despite the shift toward sustainable energy sources, investments are ongoing, especially in the upstream segment, to meet the expected peak oil and gas demand in the 2030s. North America records the highest investments, accounting for more than one-third of the global investments. Despite price volatility and environmental nd production concerns, the region’s shale oil and gas production has transformed it into a major energy exporter.

Banks are undergoing digital transformation to improve efficiency, meet evolving customer demands, and create resilient systems to become market-relevant and gain a competitive edge.

Global enterprises fear a possible economic slowdown but are also curious about the possibilities of the latest generative AI technology. These fears and enthusiasms impact the approach to workplace technology investment decisions for large organizations and SMBs. The workplace technology landscape has multiple areas that impact the employee experience and the organization’s outlook. This report dives deep into two important areas: front-end technologies that are employee facing and are the entry point for digital workplace and back-end technologies that IT administrators leverage to ensure uninterrupted, secured and cost-effective management of IT estate that delivers the workplace to employees. Both areas focus on employee experience enhancement in two different aspects and have  different sets of technologies that interest a large organization versus an SMB.

Since 2020, the use of digital workplace services by U.S. state and local governments and educational (SLED) agencies has seen significant changes and advancements. This shift, in large part, is due to pandemic-driven impacts in work environments, widespread staff retirements and shortages, and most recently, the availability of substantial funds from the U.S. federal government to upgrade IT and increase the operational efficiency and effectiveness of associated projects.

When we analyzed the future of the work and workplace technology services and solutions market in 2022, we remarked that enterprise workplace leaders are at the center stage of the transformation. 2023 has experienced two significant developments so far. First, there is a growing concern about a possible economic slowdown. Second, there have been substantial developments in artificial intelligence technology. These developments, combined with the trends we observed last year, namely growing acceptance of hybrid working and increasing focus on sustainability and a tech-savvy workforce, are largely influencing enterprise workplace technology buying decisions.

Asset management is an important area of focus in asset-intensive industries, such as oil and gas, metals and mining, industrial machinery, and power and utilities. The need to increase the life span of equipment, plants, machinery and other assets is driving the adoption of asset management tools and software. Implementing EAM software helps utilities and companies from other assetintensive industries improve efficiency, lower emissions and reduce costs, with maximum uptime and reliability. 

There is a strong and growing market for managed services BPO, with contact center agreements contributing heavily to this growth. In the last three years, the demand for resilient and advanced digital customer experience (CX) increased, leading to a surge in investments activities in this space.

The growth of CX services has been phenomenal in the last couple of years, which reflects its growing importance among enterprises and their drive to ensure the best and most seamless experience for customers, with the intent of winning and retaining them. Enterprises are leaning on managed services partners to help them drive and transform their CX functions.

In today’s consumer markets, retail and consumer packaged goods (CPG) companies are becoming alike in their operations and aspirations due to changing consumer behavior, technological advancements and market dynamics. Notably, CPG companies are adopting a direct-to-consumer (D2C) sales approach to widen their customer reach through own-brand stores and online channels. Some major CPG brands aim to achieve more than half of sales through D2C channels. Even the companies that do not pursue D2C sales are improving their customer relationships through loyalty programs, highly personalized marketing and offers redeemable at stores.

Virtualization led by hyperscalers has accelerated among business and technology stakeholders globally. Heavy business reliance on virtualized environments for various workloads, including missioncritical applications, has made virtualization mainstream in the  current IT market. Infrastructure modernization through virtualization has enabled enterprise clients to accrue the benefits of scalable network and storage capacity. In the pursuit of digital transformation, enterprises worldwide expedite the end-to-end digitalization of their business processes. Google Cloud, one of the leading hyperscalers, facilitates enterprises to gain a competitive edge through agility, flexibility and elastic scalability, translating into an elevated end-user experience. Service providers build their unique capabilities and functionality on GCP, which is leading the digital transformation space with the advanced technology required for redesigning and refining its relationships with product vendors, global system integrators (GSIs) and enterprise clients. The partner ecosystem comprises entities that establish a symbiotic relationship with listed products and offerings on GCP. Google and its partners rely on each other’s inherent expertise and technology prowess. While Google incorporates advanced partner services into its platforms, GSIs leverage the vast reach and innumerable benefits offered by Google to cater to enterprises’ client needs. By utilizing their extensive industry expertise, consulting partners ensure value generation to an enterprise through joint capabilities.

North American power and utilities industry may not drive global headlines but faces considerable headwinds such as increasing clean energy adoption (decarbonization), ensuring grid and service reliability and resiliency, improving infrastructure security, and optimizing costs.

The year 2022 saw multidimensional challenges, which helped revolutionize the U.S. cybersecurity market from different perspectives. In that year, the U.S. witnessed more than 1,800 reported breaches, which was slightly lower than in 2021, which saw 1,862 incidents. However, the sophistication of the attacks was significantly higher in 2022, with more than 422 million individuals impacted compared with 298 million in 2021. The decline in breaches was partially due to federal laws that issued rulings to report only during actual damage  and not for a potential one. While most large firms issued a breach notice, the notices had little to no information on the extent and impact of the attacks. Industry sources cite that the average time to identify a breach is about 207 days, which is almost half a year; the impact of the breaches is either unknown or not investigated further.