Smart Energy, Smart Grid, Smart Meter open up new challenges for the industry
The continuous growth of the economy and population over the past 30 years has doubled global energy consumption and, in the near future, renewable sources will take on an increasingly important role to cover global energy needs. In order to adapt such dynamics, the players of the Energy & Utilities sector are aiming to diversify and innovate their businesses, converging towards a unique way of conceiving energy needs, which will be no longer divided into distinct areas (gas, electricity, oil, etc.). Which are the developments for the Energy & Utilities market? What are the challenges for global players?
Industry evolutions stem from several global drivers
- Digital Transformation, which redesigns traditional processes and business models through "enabling" digital technologies
- Technology-based Trust, which will allow Customers to operate on safe IT ecosystems that do not involve a central authority, thus reducing possible frictions between ecosystem participants
- Renewable energy and energy efficiency, the energy of the future will be stored locally. In this process, the final consumer will adopt a new identity, as both energy "producer" and "re-seller"
- Power to the Digital Player, as we live a "democratization" of technology, where digital players open up tools and information, previously available for a few actors, for other stakeholders.