TECH BUYER Oct 2020 - IDC FutureScape - Doc # US45816020
IDC FutureScape: Worldwide Utilities 2021 Predictions
Around the world, 2020 was not an easy year for electricity, gas, and water companies. Declining energy consumption deriving from industrial and commercial slowdowns, deterioration of credit, commodities' price volatility, increasing competition, and lockdown in many countries impacted operations, not to mention an increase in extreme weather occurrences. Nevertheless, the industry has demonstrated good resilience and has not stopped its ongoing transformation journey. For the next five years, utilities will have to accelerate the reinvention of their core businesses while deploying new business models to get new revenue streams. In the next normal, hybrid working models, the shift from face-to-face to digital, and new business ecosystems will be the norm. Resilience is even more important in business and operating strategies. Leading utilities will not only adapt to shifting customer needs and market conditions, but also proactively shape the needs and the market to match their strengths, innovations, and business models.
This IDC FutureScape provides the outlook of IDC Energy Insights' analyst team for the worldwide utility industry for 2021, as well as the planning horizon for the next five years.
"Along the road to the next normal, utilities' executives will have to continue balancing resiliency and reinvention, keeping their hands in the present and eyes on the future," said Roberta Bigliani, group vice president, IDC Industry Insights. "This also implies a different approach to business and tech ecosystems to deliver one integrated experience to customers."
IDC Energy Insights: Asia/Pacific Utilities Digital Strategies , IDC Energy Insights: European Utility IT and Operational Technologies Strategies , IDC Energy Insights: North America Utilities Digital Transformation Strategies , IDC Energy Insights: Worldwide Utilities Connected Asset Strategies , IDC Energy Insights: Worldwide Utilities Customer Experience Strategies