ISG to Publish Reports on Power and Utilities Industry

Source: 6/14/2024, Location: North America

Information Services Group (ISG), a leading global technology research and advisory firm, has launched a research study examining providers of services and software supporting electric utility companies adopting new technologies in response to growing demand for renewable energy and other widespread industry changes.

The study results will be published in a comprehensive series of ISG Provider Lens™ reports, called Power and Utilities Industry — Services and Solutions 2024, scheduled to be released in November. The geographically focused reports will cover industry-specialist providers offering services for business process management, grid modernization, asset management and customer experience.

At the same time, ISG Software Research (previously Ventana Research) will evaluate software providers serving the industry with grid management and enterprise asset management software. The study results will be published in the ISG Buyers Guide for Power and Utilities Software, also due out in November.

This is the first time that ISG Provider Lens Research and the former Ventana Research have combined their joint capabilities to examine both the services and software markets for a particular industry. ISG acquired Ventana Research, a leading technology research firm specializing in coverage of the $800 billion software industry, late last year.

Enterprise buyers will be able to use information from the reports to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

The global power and utilities industry continues to be impacted by steadily increasing demand for renewable energy and sustainability, government regulations, the development of smart cities, the rise of eMobility, geopolitical tensions and increasing fossil fuel prices.

The clean energy transition continues to be a major driver of industry change. Renewables, particularly solar and wind, are projected to surpass coal as the leading source of global electricity generation by early 2025. This shift is fueled by falling costs of renewable technologies, government incentives and increasing public pressure to combat climate change. The grid, however, is struggling to keep pace with the changing energy landscape.

Aging infrastructure, coupled with the integration of distributed energy resources like rooftop solar, presents reliability concerns. Modernization efforts are underway, but they require significant capital investment, which is further complicated by current high interest rates and inflation.

“The global power and utilities industry right now is in a state of flux. The path forward is fraught with challenges but also paved with opportunity,” said Iain Fisher, director, ISG Provider Lens Research. “The industry is turning to service providers to help transform distribution and storage systems, harness smart grid technologies and predictive analytics, transition to renewable energy and improve customer experience. Efficiency, security, innovation and asset management are top priorities.”

ISG has distributed surveys to approximately 50 service providers specializing in the industry. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and solutions the typical electric utility company is buying, based on ISG’s experience working with its clients. The five quadrants are:

Intelligent Business Process Management Services (iBPMS), evaluating providers of BPM services that use automation and analytics to improve management of business processes, including customer service, sourcing and procurement, human resources, finance and accounting, regulatory compliance and other functions.
Next-Gen IT Services, assessing companies that provide IT managed services, including application development and maintenance (ADM), infrastructure and cybersecurity services and systems integration, to the power and utilities industry.
Grid Modernization, covering providers of services, including grid modeling, distributed energy resources management systems (DERMS), advanced distribution management systems (ADMS), geographic information systems (GIS), volt-var optimization (VVO), supervisory control and data acquisition (SCADA) and advanced metering infrastructure (AMI) that help utilities make grids more resilient and responsive to demand.
Enterprise Asset Management (EAM), evaluating providers of services and solutions that allow electric utility companies to increase asset performance and life, including asset lifecycle management, remote monitoring, and application maintenance and support.
Customer Information Systems (CIS) and Customer Experience (CX), assessing companies offering meter-to-cash (M2C), customer service and business process solutions for power and utility CIS platforms, encompassing account management, order processing, billing, rate design and other functions.

Geographically focused reports will examine services and solutions available in North America, Europe and Asia Pacific (excluding China). ISG analysts Swadhin Pradhan (North America), Harish B (Europe) and Mohd Aves Malik (Asia Pacific) will serve as authors of the reports.

For the ISG Buyers Guide, ISG plans to evaluate 15 software providers that offer software platforms specific to the power and utilities industry in two quadrants:

Grid Management Software, covering providers of software solutions that enable the monitoring, control and optimization of the electrical grid, functioning as a control center. This software is essential for facilitating a reliable, efficient and secure electricity supply.
Enterprise Asset Management (EAM) Software, evaluating providers of software solutions that facilitate the management and maintenance of assets throughout their lifecycle, starting with capital planning and procurement, through installation, performance monitoring, maintenance, compliance and risk management, up to asset disposal.
A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed in the brochure can contact ISG and ask to be included in the study.

All 2024 ISG Provider Lens™ evaluations feature expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.

South Korea >>  7/18/2024 - Reduced approximately 267,000 tons of greenhouse gas last year with the transition to renewable energy
Focusing on securing a stable renewable en...

South Korea >>  7/18/2024 - ABS and the Korea Research Institute of Ships and Ocean Engineering (KRISO) are working together to advance commercial small modular reactor (SMR)-pow...

United Kingdom >>  7/18/2024 - Ofgem has published sector specific decision documents for our UK Electricity Transmission business relating to the RIIO-T3 regulatory period which wi...
United Kingdom >>  7/18/2024 - The core guidance document, and associated guidance documents and templates, are directed at electricity transmission, gas transmission and gas distri...

United Kingdom >>  7/18/2024 - RIIO (Revenues = Incentives + Innovation + Outputs) is our approach to ensuring that the monopoly companies that run our gas and electricity networks ...
United Kingdom >>  7/18/2024 - Audits of Renewables Obligation (RO), Renewable Electricity Guarantees of Origin (REGO) and Feed-in Tariffs (FIT) Generating Stations 2024/25

Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.