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Power Distribution and Retail Digital Transformation Growth Opportunities

Power Distribution and Retail Digital Transformation Growth Opportunities

  • August 2021
  • 78 pages
  • ID: 6149546
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

Digitalization is the key enabler of decentralization and decarbonization, the other two D’s shaping the energy industry transformation.Cloud computing, Big Data, analytics, and the Internet of Things (IoT) are among technologies that enable the digital transformation of electric utilities and facilitate new ways of electricity production, storage, distribution, and consumption.

As the backbone that integrates renewable energy, enables higher electrification rates, and manages multidirectional flows of distributed energy resources (DERs) and loads, digital investment in power distribution grids and retail is necessary for the energy transition.Market shifts and the proliferation of technologies, including smart appliances, electric mobility, and distributed solar and storage, are shaping future distribution utilities into highly flexible and strong decarbonization advocates.

They are set to be key DER orchestrators and provide energy as a service bundled with related, value-added solutions tailored to users’ individual preferences.To achieve the vision, power distribution and retail utilities focus their digital investment and efforts on three main areas to: a) enhance customer service and engagement levels; b) improve operational reliability and efficiency; and c) integrate and manage smart home technologies, DERs, and electric vehicles to provide value-added energy-related connected businesses. Following this segmentation, this study provides regional forecasts and analyses of digital expenditure evolution in the next 10 years for Europe, North America, and Latin America. It also describes the main application areas, software, systems, and platforms used. The report presents the competitive landscape and trends and highlights growth opportunities regarding meter data usage, cloud computing, SaaS and XaaS business models, distributed cybersecurity, microservices, and distributed intelligence.
Author: Maria Benintende

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