Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry

Digitalization projects are actively underway in the energy industry, such as the power industry and oil and gas industry. However, there has been no in-depth and quantitative analysis of the relationships between the participants, industry, and technology of digital projects. Therefore, this study...

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Autores principales:	Park Chankook, Kim Minkyu
Formato:	article
Lenguaje:	EN
Publicado:	Sciendo 2021
Materias:	digital technology choice digitalization projects energy digitalization oil and gas industry power industry Renewable energy sources TJ807-830
Acceso en línea:	https://doaj.org/article/45edabb6b50e4612ac40438f6c15853c
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spelling	oai:doaj.org-article:45edabb6b50e4612ac40438f6c15853c2021-12-05T14:11:10ZCharacteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry2255-883710.2478/rtuect-2021-0026https://doaj.org/article/45edabb6b50e4612ac40438f6c15853c2021-01-01T00:00:00Zhttps://doi.org/10.2478/rtuect-2021-0026https://doaj.org/toc/2255-8837Digitalization projects are actively underway in the energy industry, such as the power industry and oil and gas industry. However, there has been no in-depth and quantitative analysis of the relationships between the participants, industry, and technology of digital projects. Therefore, this study focused on which technologies are invested according to key characteristics such as the types of participants and industries driving digitalization projects. This study also examined whether there are differences in technology choices depending on the degree of clean energy exposure. Based on statistics from Bloomberg New Energy Finance (BNEF), a total of 711 projects were analysed using multinomial logistic regression (MNLR). As a result, the proportion of Analytics software was generally higher in the whole industry, and the energy industry was more likely to invest in Analytics software than in other industries. Comparing the power, oil and gas sectors, there was a high probability of investment in Internet of Things (IoT) in the power sector and Automation in the oil and gas sector. In the type of cooperation between energy companies and industrial companies, the probability of investing in Analytics software was significantly higher. In the case of cooperation between energy companies and information and communications technology (ICT) companies, in the oil and gas sector, Analytics software and Cloud/Data accounted for a large proportion. This study provides insight into the effect of characteristics of energy digitalization projects on the technology choice.Park ChankookKim MinkyuSciendoarticledigital technology choicedigitalization projectsenergy digitalizationoil and gas industrypower industryRenewable energy sourcesTJ807-830ENEnvironmental and Climate Technologies, Vol 25, Iss 1, Pp 356-366 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	digital technology choice digitalization projects energy digitalization oil and gas industry power industry Renewable energy sources TJ807-830
spellingShingle	digital technology choice digitalization projects energy digitalization oil and gas industry power industry Renewable energy sources TJ807-830 Park Chankook Kim Minkyu Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry
description	Digitalization projects are actively underway in the energy industry, such as the power industry and oil and gas industry. However, there has been no in-depth and quantitative analysis of the relationships between the participants, industry, and technology of digital projects. Therefore, this study focused on which technologies are invested according to key characteristics such as the types of participants and industries driving digitalization projects. This study also examined whether there are differences in technology choices depending on the degree of clean energy exposure. Based on statistics from Bloomberg New Energy Finance (BNEF), a total of 711 projects were analysed using multinomial logistic regression (MNLR). As a result, the proportion of Analytics software was generally higher in the whole industry, and the energy industry was more likely to invest in Analytics software than in other industries. Comparing the power, oil and gas sectors, there was a high probability of investment in Internet of Things (IoT) in the power sector and Automation in the oil and gas sector. In the type of cooperation between energy companies and industrial companies, the probability of investing in Analytics software was significantly higher. In the case of cooperation between energy companies and information and communications technology (ICT) companies, in the oil and gas sector, Analytics software and Cloud/Data accounted for a large proportion. This study provides insight into the effect of characteristics of energy digitalization projects on the technology choice.
format	article
author	Park Chankook Kim Minkyu
author_facet	Park Chankook Kim Minkyu
author_sort	Park Chankook
title	Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry
title_short	Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry
title_full	Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry
title_fullStr	Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry
title_full_unstemmed	Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry
title_sort	characteristics influencing digital technology choice in digitalization projects of energy industry
publisher	Sciendo
publishDate	2021
url	https://doaj.org/article/45edabb6b50e4612ac40438f6c15853c
work_keys_str_mv	AT parkchankook characteristicsinfluencingdigitaltechnologychoiceindigitalizationprojectsofenergyindustry AT kimminkyu characteristicsinfluencingdigitaltechnologychoiceindigitalizationprojectsofenergyindustry
_version_	1718371295192678400

Characteristics Influencing Digital Technology Choice in Digitalization Projects of Energy Industry

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