Explore the value chain IoT creates for the utilities & smart metering industry. Other important aspects like market share, growth rate and production trends of each product over the analysis period are elaborated. As CIO, you have an opportunity to lead in transforming your organization into a digital utility. However, digital disrupters are changing customer needs and behaviors. Energy and utilities companies are being driven to new operating and business models with enterprise digital competency as the foundation. Digital Trends helps readers keep tabs on the fast-paced world of tech with all the latest news, fun product reviews, insightful editorials, and one-of-a-kind sneak peeks. The industry has made enough progress in 2019 to enable the mass adoption of digital transformation projects in 2020 for small and big utilities. The global digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022, to reach a market size of USD 244.31 Billion by 2022. From the power plant to the customer and even beyond, we have the expertise to help you get ahead in a world of energy change. It was great to see the event adapt quickly in response to COVID and leverage technology to make it happen. Power and Utilities. There are signs that the global water sector is changing as it begins to embrace a digital transformation. 2018 Top Digital Trends for Power and Utilities Digital Twins Unlock True Digitalization A digital twin is a software construct that bridges physical systems and the digital world. Download to learn more about digital transformation and innovation. Utilities are under pressure to decarbonize and decentralize; digital technologies can provide the energy industry with the tools to respond to these shifts. Thanks for the opportunity to participate in Digital Utilities 2020. Because of generational transitions, aging grids, highly distributed workforces and technological advances, interest and investments in digital innovation are becoming high priority. It is the digitized version of a physical asset, accumulating data over time about the structure of the asset, its operation, and the environment in which it operates. Even in the best situations, with executives who fully support the digital-transformation agenda, it can take years for an entire utility—with thousands of employees, a vast asset base, and extensive regulatory requirements—to embrace the methods of digital-native businesses. Digital has transformed utilities and the industry as we knew it. The IWA Digital Water Programme aims to act as a catalyst for innovation, knowledge and best practices around digitalisation for the water sector, provide a platform to share experiences and promote leadership in transitioning to digital water solutions, and consolidate lessons to guide the natural evolution from the ‘business as usual’ to achieving a digital water utility. The global digital utility market can be segmented based on deployment, technology, network, industry, and geography. A digital twin is an advanced duplicate that models a real-life object or process without replacing. This discussion provides listeners an insight into the challenges, opportunities and key digital transformation considerations for companies in the utilities … Digital Power Utility Market analysis offers latest trends, growth factors, top players, value/supply chain, investment opportunities etc. Trends. Bluefield’s Reese Tisdale provides perspective on what he considers the most innovative, impactful water industry trends in the year ahead. CIOs in the utilities sector must modify their organizations to explore innovative provisioning business models. Many utilities are setting up internal digital foundries, which act as hubs or accelerators of digital projects. Publish date: Date icon December 17, 2020. One utility executive Let's do this. Pivotal details regarding the revenue and volume estimates of every product type are showcased. This transformation for utilities is a migration from a data-rich environment to more of a knowledge-rich environment. Now, energy-as-a-service providers are pivoting away from digital for the sake of innovation to digital for the sake of business. Featured - 4 items. In this article, we assess how industry trends are bringing decarbonization and decentralization to the fore, and how advances in technology are providing the electricity industry with the digital tools to respond to these changes. Digital twin technology ranks among the top strategic trends, and has been adopted by an ever widening range of industries since its original development by NASA. This is based on the following three trends in 2020: Internet of Things (IoT) at Scale: Leading utilities will start transforming ambitious digital pilot projects into full scale deployment initiatives. Online technologies bring about rapid and diverse changes in the way utilities monitor compliance. Dublin, July 30, 2019 -- The "Digital Transformation Trends in Energy & Utilities" report has been added to ResearchAndMarkets.com's offering.This report. In terms of deployment, the digital utility market can be classified into on premise, hybrid, and cloud. According to Gartner, digital is the top priority for utility CIOs in 2019. Technology-driven innovation changes how energy is sourced, delivered and consumed. As digital change accelerates, you need help seeing around corners, avoiding … Furthermore, Gartner shares that the rapid growth of digital ambitions are changing how oil and gas organizations operate. As executives design the digital strategy of their utilities organizations, they are also reconfiguring the operating model, the organizational design and business processes to support a digital company. If you’re working in or with Australia’s Utility industry, this is a not-to-be-missed event. IoT trends in the utilities industry Smart meters offer a gateway to smarter grids, greener energy production and better customer relations. Evolve the operating model to support a digital utility. Digital foundry. Digital technology and renewable energy generation are transforming the power and utilities sector. Published on February 22, 2019 February 22, 2019 • 63 Likes • 3 Comments This information would help the new market entrants and emerging players to understand the overall structure of the market and get information on the various products and services available in the market. This e-book outlines four trends that energy and utility companies must address in the future, highlights five areas of investment, and shows how the IBM and SAP digital partnership can help organizations become high-performing digital companies of the future. Digital Trends in Utilities. Both socioeconomic pressures and technology innovations are driving the utilities industry towards the digital world. Global Digital Utility Market Size, Industry Trends, Share and Forecast 2019-2025 11-24-2020 09:59 AM CET | Business, Economy, Finances, Banking & Insurance Press release from: ORION MARKET RESEARCH (1) Technology Trends in the Utilities Industry. There is a laser focus on applying digital technologies to address the future of work, customer engagement, intelligence, operations, and leadership. whether utilities ought to go digital. The report classifies the product terrain of the Digital Utility market into Hardware; Integrated Solutions. Water Utility Management; Top Water Trends to Watch in 2020. The report divides the global Digital Transformation Trends in Energy & Utilities market into some key segments based on attributes, features, applications, and types. Digital twin technology. Tech trends for utilities in 2020: digital transformation will not be driven by technology By Michael O’Donnell, SAP | 12.28.19 Disruptions and adaptations have become the new normal for utilities companies over the last few years, but challenges reached a fever pitch in 2019: shifting regulations; evolving customer demands; digital pressures; cyber security. The idea of digital water can seem daunting at first; however, once you have a better understanding of the challenges and opportunities, you can start to plan with confidence. A new report from Gartner, Inc. identifies the top-10 technology trends affecting the global energy and utility markets in 2013, as the industry faces significant challenges from ongoing environmental sensitivity, changing policymaker attitudes and consumer expectations. Delivering the Renewable Enterprise: Industry trends – Energy & Utilities. As the U.S. power and utilities industry continues to transform, more flexible regulatory initiatives may bring new opportunities. Digital Trends helps readers keep tabs on the fast-paced world of tech with all the latest news, fun product reviews, insightful editorials, and one-of-a-kind sneak peeks. It is clear that across the energy value chain, the focus on digital is presenting new opportunities and challenges. The three digital, on-the-go technology trends that utilities should consider in their digital strategies are: E-Mobility and EV Infrastructure; Asset Management; Solar and Energy Storage; While we’re in this energy and digital transition, it is important to prioritize your customers. Download the digital power utility market report (2018-2023) now. Digital Trends may earn a commission when you buy through links on our site. A foundry is a dedicated function with dedicated resources incorporating the skill sets required to carry concepts from ideation through implementation. Gartner research primer can help energy and utilities organizations’ CIOs and their stakeholders to transit from traditional to digital enterprises with new operating and business models. As all aspects of the global energy system become more digital, we are already seeing better outcomes for electricity producers, end consumers, the economy, and the environment. 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