From rising customer expectations to rapidly changing regulatory norms, the utility industry is facing numerous challenges.

1. The utility sector is confronted with numerous obstacles, including rising customer expectations
and swiftly shifting regulatory norms. Utilities are now shifting their focus to digital transformation
in order to overcome these challenges. The utility providers' mindset and culture must change in
order to adapt to the digital utility concept and simplify their business procedures to meet
customer needs and regulatory requirements.
As per a report by Partnered Statistical surveying, the worldwide utility resource the executives
market was esteemed at $4.3 billion out of 2021 and is projected to reach $12.4 billion by 2031,
enlisting a CAGR of 11.3 percent during the gauge time frame.
The need for energy that is both effective and dependable, aging infrastructure, an increase in
distributed energy resources, and an increase in demand all contribute to this rapid expansion.
Simultaneously, the reception of computer based intelligence and IoT innovation for better
experiences sets out rewarding open doors for development in the area.
IoT and its trap of interconnected gadgets are opening additional opportunities in the utility
resource the executives space. The technology can be used by utility companies to automate
and streamline tedious, time-consuming processes like delegation, scheduling, and reporting.
IoT devices can also be used to cut down on the amount of time and money spent on routine
inspections.
This issue of Utilities Tech Outlook provides a bird's-eye view of the most recent developments
in the asset management field for utilities, as well as insights into how businesses are adapting
to these trends and adopting novel approaches to altering age-old procedures.
Experts in the field, such as the Director of Transmission Services at Dairyland Power
Cooperative and the Director of IT Strategy & Solution Development at JEA, have contributed
thought leadership articles to our collection.
We likewise brought a profound plunge into the market patterns to limit the rundown of
organizations conveying imaginative utility resource the board administrations and
arrangements. Companies like The Woodhouse Partnership Ltd. (TWPL) and Industrial
Defender, which are outfitted with robust technological capabilities, aid in the transformation of
businesses in response to a variety of disruptive technologies.
We hope that this issue of Utilities Tech Outlook's utilities asset management services and
solution providers helps you form the partnership your company needs to create a
technology-driven environment.
Share your thoughts with us!