Utilities
Increasing global electricity consumption is putting a strain on current grid infrastructure creating competition to improve the service.
Cambashi’s e-learning course and Industry Insights include more information about the Utilities industry, alongside high-level market intelligence from our market-leading datasets.
Utilities Industry Trends & Challenges
Utilities companies face a number of opportunities and threats to their businesses. The companies best placed to deal with a challenge will consider it as an opportunity, whilst those poorly prepared will face the challenge as a threat.
While the utilities industry is often thought of as slow moving when it comes to adopting new technologies and business models, there are still some prominent trends emerging in the industry that are increasing the speed of change:
- digitization
- mergers & acquisitions
- new business models
- new entrants
- onshoring
- renewables
Alongside these, the industry continues to respond to a set of persistent challenges:
- artificial intelligence and data centre load growth
- geopolitical tension
- grid connection and transmission bottlenecks
- increased competition
- matching supply & demand
- sustainability
- skilled worker shortage
For more in-depth information about the Utilities industry, check out our e-learning course and Industry Insights platform.
E-learning course & Insights Platform
E-learning course
- Self-paced e-learning
- CPE-approved
- Designed for customer-facing professionals
Objectives
- Identify the industry terminology
- Identify the relationships between typical companies in the industry supply chain and understand the structure of a typical business
- Pick out some of the major issues faced by utility companies in today’s industry
- Differentiate between the initiatives they take to respond to business issues
Cambashi Ltd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE sponsors through its website: http://www.nasbaregistry.org
Industry Insights Platform
- Tactical industry intelligence updated in real-time by industry experts.
- The latest trends & challenges, business drivers, products & services, and technology.
- Key players and consumer perspective
- Industry terminology and metrics
- Deeper knowledge across a variety of industry subjects
Access Cambashi’s Industry Insights Demonstration
Utilities Industry Related Professions
Analyzing the workforce in the utilities industry reveals a complex landscape. Managers and supervisors lead strategic planning and resource allocation, particularly prominent in developed regions like North America and Western Europe. Professionals, such as engineers, are integral to infrastructure design and optimization, with higher concentrations found in technologically advanced regions. Semi-professionals, such as field technicians, play essential roles across both developed and developing regions, ensuring day-to-day operations run smoothly. AEC & MFG Workers, comprising laborers and maintenance staff, are prevalent in regions experiencing rapid infrastructure growth, like parts of Asia.
Regional differences further shape the utilities workforce. North America prioritizes advanced technology adoption, reflected in its high proportion of professionals and managers. In Western Europe, emphasis on sustainability drives the presence of professionals in renewable energy and environmental management. Asia showcases a diverse mix, with significant roles for semi-professionals – particularly in South Asia, and AEC Workers in infrastructure expansion. Understanding these dynamics is crucial for the VP of HR in utilities companies to effectively manage their workforce amidst evolving industry demands and regional nuances.
Software Market in the Utilities Industry
For utility businesses to continue innovating they must embrace digital transformation and create new technologies. The operational models of utility organizations are changing to deliver value at speed by incorporating new technologies.
Technology outside the IT function continues to grow and has an opportunity to adapt and scale new ways of working with disruptive technologies. Examples of technologies that are changing the way utility industries operate are:
- data analytics
- energy storage
- hydrogen
- Internet of Things (IoT)
- renewable energy advances
- smart meters
- water reuse technologies
Here we can see the relative sizes of the Computer-Aided Technologies (Mechanical CAD, Mechanical CAE), PLM, BIM, and GIS software sectors in the global utilities market. The total is worth approximately $US2.5 billion annually. Note how BIM and GIS are the largest segments, given utility assets and infrastructure networks are widely dispersed geographically, seeing data on a map can help operational decisions, fault diagnosis, and strategic planning.
Design/Engineering/Manufacturing Software Market Share – Utilities Industry
Blog
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