Industry analysts predict following top trends for worldwide utilities in terms of their likely impact across companies and the time it will take for the predictions to reach mainstream. How in particular SAP might be influenced by these trends? For discussions or additional insights and analysis please get in touch with Stefan Schmitt - CMI ENR Lead Analyst ste.schmitt@sap.com
Top trends in utilities 2016 and beyond:
- New revenue: By 2018, 20% of energy consumers will purchase new energy-related products and services from utilities and their affiliates, opening up new revenue streams
- Digital transformation: By 2018, 70% of utilities will have launched major digital transformation initiatives that address at least one of these three areas: omni-experience, operating model, or information
- Access to talent: In 2016, 70% of utilities will need to externally source talent from the ecosystem to make use of advanced analytics, cognitive systems, cloud, and cybersecurity
- Cybersecurity: By 2019, 75% of utilities will have deployed a comprehensive risk-based cybersecurity strategy, representing a maturation from a compliance focus to security focus
- Customer experience (CX) and billing solutions: By 2017, to compete in redesigned markets and support new business models, 45% of utilities will invest in a new customer experience solution and 20% in a new billing system
- Digital grid: In 2019, 50% of utilities will spend 5% or more of their capex on operational technologies and the Internet of Things (IoT) to optimize distributed energy resources, field services, and asset operations
- Asset management: By 2019, 75% of utilities will rely on managed services and industry cloud to predict asset failures or recommend solutions, but they will retain control of asset optimization
