IDC FutureScape Figure

Figure: IDC FutureScape: Worldwide Utilities 2022 Top 10 Predictions

Executive Summary

IDC FutureScape Predictions

Summary of External Drivers

Predictions: Impact on Technology Buyers

Prediction 1: By 2023, Stricter Environmental Regulation Will Have Pushed 30% of Water Utilities to Invest in IT-OT Integration and Operational Data Management, Avoiding Fines of up to 6% of Operating Profit

Associated Drivers

IT Impact

Guidance

Prediction 2: By 2024, 40% of Network Utilities Will Have Adopted a Data-Driven Approach to Climate Risk Assessment, Enabling More Efficient Capital Investment Decisions and Saving Billions in Weather-Related Cost

Associated Drivers

IT Impact

Guidance

Prediction 3: By 2022, 55% of Energy Suppliers Will Improve the Efficacy of Their Digital Channels by Investing in Live Chats (Mostly Human Agents but also Chatbots), Reducing Call Center Volumes by 20%

Associated Drivers

IT Impact

Guidance

Prediction 4: 80% of Energy Suppliers Will Deploy Digital Customer Engagement Solutions by 2026 to Cater to the Appetites of Millennials and Gen Z, Which Will be the Majority of Utilities' Customer Base

Associated Drivers

IT Impact

Guidance

Prediction 5: By 2024, 40% of Energy Suppliers Will Have Lifted the Core Business Logic From Billing to Customer Data and Experience Management, Becoming Three Times More Effective at Marketing New Products

Associated Drivers

IT Impact

Guidance

Prediction 6: By 2025, 10% of new Renewable Capacity Will be Hybridized With Storage and Hydrogen, up from Less Than 1% Today, Boosting Plant Profitability by 15% via Lower Curtailment and new Revenue Streams

Associated Drivers

IT Impact

Guidance

Prediction 7: By 2023, 60% of G2000 utilities Will Initiate Data Programs Aimed at Maximizing Value From end-of-life Industrial Plant and Enabling a new Circular Approach to Asset Life-Cycle Management

Associated Drivers

IT Impact

Guidance

Prediction 8: By 2024, 55% of Utilities Will Upgrade Their Infrastructure to Offer Smart Charging and Vehicle-to-Grid Services, Thus Reducing Operating Cost and Unlocking Business by up to 5% and 20%, Respectively

Associated Drivers

IT Impact

Guidance

Prediction 9: By 2026, the Electrification Boom Will Increase Utility Partnerships, From Municipalities to the Auto Market in Addition to new Technology Vendors, Expanding the Utility Sector Ecosystem by 30%

Associated Drivers

IT Impact

Guidance

Prediction 10: By 2025, 50% of utilities Will Have Upgraded Their Field Services Application and Deployed Emerging Technologies Such as Wearables and Augmented Reality, Improving First-Time fix Rates by 50%

Associated Drivers

IT Impact

Guidance

Advice for Technology Buyers

External Drivers: Detail

The Future Enterprise — Thriving in a Jungle of Agile Innovation

Embracing Digital First — New Strategies for Complexity and Ubiquity

The Velocity of Connectedness — The Future Is Data in Motion

Intelligence on Demand — Navigating the Torrent of Data

Digital Ecosystem — Thriving in a Multiplatform World

Environmental and Social Responsibility — A New Stakeholder-Driven Imperative

Workforce Outlook — Redefining Teams, Reinventing Models, and Rethinking Leadership

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