Electricity, Gas and Water Utilities companies operate in an increasingly competitive and regulated market. The rise of renewable energy and customers moving off the grid is driving a need to improve operations to better manage costs. Companies need a solution to help balance supply and demand, gain greater insight into customer usage patterns and deliver more personalized products and services.
Utilities are investing in new technologies to help deploy assets on-time and on-budget as well as to extend their uptime to offset rising prices.
The strong demand for information insights is causing an artificial intelligence boom, with the market for AI across Energy and Utilities expected to reach $4.5B by 2026.
The ongoing economic impacts of the pandemic are driving a focus on supply chain optimization with electronic data interchange (EDI) and IIoT.
Cloud adoption continues to accelerate, with 74% of Utilities planning to spend more on cloud technologies in the next three to five years.
The industry continues to adopt content management systems that integrate with core applications, such as ERP and EAM, to boost collaboration across asset lifecycles.
Remote worker enablement remains vital to ensure staff closest to Utility assets have fast access to accurate information, maximizing asset uptime from anywhere.