target audience: TECH SUPPLIER Publication date: Nov 2024 - Document type: IDC Survey - Doc Document number: # US52737724
2024 Future of Industry Ecosystems Global Survey: Key Findings — Utilities Industry
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Abstract
This IDC Survey uncovers the business models, strategy, IT investments, and leading use cases today and tomorrow for utility organizations working closely with their ecosystem partners to support the rapidly evolving energy industry.
In August and September 2024, we fielded our third-annual global survey to 1,264 executives across 5 regions and 11 countries. The goal was to determine executive, business, and IT leader sentiment on industry ecosystems, maturity of current approach, and future plans for IT and use case investment. Respondents spanned multiple domains including CXO, business line leadership, and IT management. Industry coverage is across 10 industries: construction, energy, discrete and process manufacturing (and subindustries), healthcare, life sciences, financial services, media and entertainment, retail, and government.
Key findings from the survey include:
- Industry ecosystems drive innovation for utilities, critical to enable the transition to alternate forms of energy
- Data sharing and insights across the utility ecosystem must be in place to enable sustainable distributed energy resource management (DERM)
- Engagement with the end customer (whether the consumer or the prosumer) is a critical focus for utility providers
- Having a platform for agile operations in the utility sector enables more effective sensing and prediction of energy usage, and optimized energy distribution
- AI and GenAI are rising in usage, both experimentation and full-scale deployments
What is clear is that organizations in every industry are looking to open and expand their industry ecosystem as part of becoming a digital-first business. Shared data and insights, shared applications, and shared operations and expertise are enhanced with this approach — as not only a way to ensure flexibility and resiliency but also a way to grow revenue and profitability.