Today utility industry is on the verge of digital transformation due to influx of advanced technologies. Being an asset intensive industry, utilities need to optimize asset performance, while judiciously overcoming the challenges in this dynamic energy world to offer maximum return on investment. The utility asset management is expected to reach USD 4.09 billion by 2022 with aging infrastructure being one of the main drivers of the trend in the industry.
This whitepaper outlines the current opportunity landscape of the utilities industry to transform their business models with smarter assets, real-time applications and automation to reduce human error, meet service expectations, improve safety compliance and increase return on equity.
Key takeaways from this whitepaper:
- Key business drivers to make assets smarter in this digital world
- Rise of next generation applications to manage smart assets
- How Industry 5.0 technologies takes digital performance to the next level
- Role of Innovapptive’s conversational operations solution in driving seamless collaboration among all stakeholders, thereby boosting efficiency and decision making