The utilities field service management sector is undergoing a digital transformation, and advanced technologies such as IoT, AI, and machine learning are playing active roles in enhancing asset management, predictive maintenance, and overall operational efficiency.
One significant trend is the move toward a platform approach to operational technology (OT), allowing for the integration of various large applications, including enterprise asset management and advanced distribution management systems. This integration provides a holistic view of operations and necessitates a more comprehensive cybersecurity strategy that encompasses both IT and OT systems. Utilities companies are also focusing on overcoming data silos and fostering a culture adept at managing cybersecurity and data. There’s a growing need for expertise in these areas, along with the involvement of third-party vendors with specialized knowledge.
Another trend is the increasing reliance on edge computing, which processes and acts upon data closer to where assets are located in the field. This is particularly beneficial for customer engagement, as utilities can better understand and manage how energy is consumed and possibly sold back by customers using smart meters and renewable energy technologies. Edge computing also supports the operational side by enhancing the monitoring and management of remote renewable energy resources, such as wind farms and solar arrays.
Driven by these advancements, the global utilities field services management market is expected to cross the mark of $12.2 billion by 2033, growing at a sturdy CAGR of 11.4 percent from 2023- 2033.
In this edition of Utilities Tech Outlook, we bring in utilities field service management solutions providers emerging as potent tools, promising to revolutionize how utilities operate and keep the lights on. The magazine further features Ultimate Tool & Safety along with insights from Joseph Romano, principal, surveying and mapping, Langan Engineering, Antonio Lisboa, head of SAP global competence center, EDP; and Justin Tait, director of responsible sourcing, Enviva [NYSE: EVA]. They render their opinions on how these solutions can ensure a more resilient, efficient, and sustainable energy future for all.
We hope these valuable insights from industry leaders featured in this edition will assist you in making informed decisions for your businesses.
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