IDC FutureScape: Worldwide Utilities 2022 Predictions

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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• Related Research