This report identifies key demand-side trends in the utilities industry that can help enterprises fine-tune their digital strategies. It also provides an overview of enterprise challenges in the utilities industry based on Avasant’s assessment.
Why read this Market Insights?
The utilities sector (electric, gas, and water), bolstered by legislative investments across the US and Europe, is poised to overhaul outdated systems and match other sectors in tech adoption. However, providing cost-effective energy/water and expedited customer services remains challenging. Despite these challenges in delivering affordable services quickly, utilities are diversifying energy sources and embracing digital upgrades for better efficiency. Investments in new tech aim to balance energy needs with climate realities. Moreover, sustainability is now critical, driven by regulations and expectations, with generative AI playing a key role in meeting compliance demands.
The Utilities Digital Services 2024 Market Insights™ aids enterprises in the utilities sector in identifying important market trends and challenges for any digital project they participate in.
Methodology
The industry insights presented in this report are based on the following: our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Defining utilities digital services scope
- Key drivers and enterprise response
- Avasant recognizes 19 top-tier providers supporting the utilities industry in digital transformation
Demand-side trends (Pages 8–14)
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- Utilities are riding on global investments to improve grid security and reliability, enhance asset utilization, and empower sustainable operations.
- Utilities across the globe are using AI, generative AI, and other digital technologies to enhance and personalize customer experience.
- Owing to the high adoption of home-based renewable energy generation, utilities are resorting to digital technologies to solve grid integration challenges
- Water utilities are constantly improving water management techniques using data analytics and AI in response to global regulations for water quality.
Key contacts (Page 15)
Read the Research Byte based on this report. Please refer to Avasant’s Utilities Digital Services 2024 RadarView ™ for detailed insights on the service providers and supply-side trends.