Digital Lifescapes

The most consequential infrastructure decision an electric utility executive will make this decade has nothing to do with poles, wires, or substations; it's a software decision. The global power grid is undergoing a transformation so fundamental to future economic growth. It's become a total re-imagining of energy generation and optimal delivery. From a predictable, one-way system built around centralized generation, to a dynamic, bidirectional network that must simultaneously balance millions of decentralized inputs, while bracing for the twin pressures of climate volatility and surging demand. For C-suite leaders across energy, technology, and finance, this shift is no longer a horizon event. It is the operational reality of today, and the strategic battleground of the next decade. Grid Intelligence Market Development According to the latest market study by ABI Research, the core Grid Management software market is projected to reach $77.2 billion by 2035. That figure is a pro...

We're in a new era of digital transformation. The rapid advancement of Artificial Intelligence (AI) is reshaping the IT data center. However, this progress comes with a significant challenge: the escalating energy demands. The cooling requirements for these digital powerhouses are skyrocketing, presenting a critical conundrum for the IT industry and global environmental sustainability efforts alike. As the AI computing power intensifies, these facilities generate more heat. This heat isn't just a byproduct; it's a threat to the performance, stability, and longevity of AI platforms. AI Data Center Market Development According to a recent study by ABI Research, the global data center market is set for explosive growth. The number of data centers worldwide is expected to more than double from 10,978 in 2023 to over 22,000 by 2030. In 2023, data center operators consumed 300 TWh of energy solely for cooling purposes. Even more alarming is the projection that this figure will tr...

In an era where wireless connectivity is pervasive, Satellite Internet of Things (IoT) can change industries, offering leaders unprecedented opportunities to drive efficiency and innovation. As industries across the globe seek to enhance operational efficiency and sustainability, satellite IoT emerges as a pivotal enabler. According to a worldwide study by ABI Research, the Satellite IoT market is forecast to reach $4 billion by 2030, with over 26 million connections anticipated. "Prominent satellite IoT providers such as Inmarsat, ORBCOMM, Globalstar, Myriota, and hiSky have been actively working together with their partners to expand their service offerings and enhance connectivity solutions," said Jake Saunders, vice president at ABI Research . Satellite IoT Market Development The satellite IoT market's expansion is largely fueled by its application across key verticals, including agriculture, energy and utilities, fisheries and aquaculture, and environmental monitorin...

The quest for digital transformation is bringing both enormous opportunities and challenges for industrial organizations. As more processes embrace connectivity through initiatives like Industry 4.0, they are also being exposed to growing cybersecurity threats. This is prompting executives and industrial stakeholders across manufacturing, energy, mining, utilities, and other business sectors to re-evaluate how they secure critical infrastructure operations.  According to the latest worldwide study by Juniper Research, the market for industrial endpoint cybersecurity solutions is poised for massive growth in the coming years. Endpoint Cybersecurity Market Development Endpoint security refers to the processes used to monitor, manage and secure the various connected devices like PLCs, HMIs, engineering workstations, and more found within industrial facilities. Juniper analysts forecast that 210 million industrial endpoints will be utilizing endpoint cybersecurity services by 2028. Thi...

As a senior executive, have you considered how the rapidly evolving blockchain and distributed ledger technologies could revolutionize your organization's operations and competitive standing in the Global Networked Economy? Across the globe, the enterprise demand for blockchain applications is on the rise, driven by the need for operational efficiencies, transparency, and security in business transactions. As organizations grapple with the challenges of digital transformation initiatives, blockchain technology offers a promising solution to streamline processes, reduce fraud, and enhance customer trust. Blockchain Market Development Despite the prior volatility and hype cycles associated with blockchain use cases, its potential to revolutionize industries from finance to supply chain cannot be understated. According to the latest worldwide market study by ABI Research , the blockchain and distributed ledger technology (DLT) market is expected to reach a value of $25 billion by 2027...

Wireless communication networking continues to evolve. More enterprise IT organizations are envisioning new applications that empower frontline and corporate employees to streamline mobile workflow. A public cellular network relies on shared infrastructure and resources which are utilized by numerous other subscribers. In contrast, private cellular networks are prevalent among businesses aiming to increase privacy, safety and control over a network used exclusively by their employees and guests. Private Wireless Network Market Development   According to the latest market study by Juniper Research , enterprise spend on private networks will near $10 billion globally by 2028 -- that's rising from $1 billion in 2023. Growing by 722 percent, the three vertical industries driving the market were identified as: Manufacturing (35 percent), Energy (20 percent), and Public Services (16 percent). The need for private networks that can support high device densities and operate over large geo...

The integration of emerging technologies into the hospitality industry is driving new growth opportunities and changing the way guests experience properties. Smart home technology is beginning to transform the global hospitality sector. According to the latest worldwide market study by ABI Research, the smart home and connected equipment market across smart hospitality and coworking spaces will see connected shipments rise from 6.8 million devices in 2023 to 19.7 million in 2027 -- that's a CAGR of 23.5 percent. "Service flexibility, cost savings, and meeting changing customer expectations is driving investment in connected technology," said Jonathan Collins, research director at ABI Research . Some dedicated offerings address just one segment of the market. But now, new offerings are increasingly being adopted that address the broader smart homes and smart building markets.  Smart Building Market Development Smart technology is revolutionizing the way hotels operate and ...

Global climate change policy initiatives have been an emerging topic for CEOs and their leadership teams, as they look to the future. Many organizations are preparing to play their part and help reduce carbon emissions. Eighty-seven percent of business leaders expect to increase their organization’s investment in sustainability over the next two years, according to the latest worldwide market study by Gartner. Customers are the stakeholder group creating pressure for these organizations to invest or act on sustainability issues -- selected by 80 percent of executives, followed by investors (60 percent) and regulators (55 percent). Sustainability Market Development "Sustainability enables businesses to cope with disruption," said Kristin Moyer, VP analyst at Gartner . "Economic uncertainty, geopolitical conflict and escalating materials and energy costs are forcing businesses to reexamine all forms of expenditure." According to Gartner, this focus on essentialism -- ...

The electric distribution industry continues to invest in digital transformation projects. Advanced Metering Infrastructure (AMI) technology is becoming a driver for connected electricity meters, which will reach an installed base of 1.3 billion by 2027. AMI growth is prompting utilities and energy suppliers to revisit their IT infrastructure security and device management operations, according to the latest worldwide market study by ABI Research. Energy Infrastructure Security Market Development Digitization of traditional electricity grids and the modernization of the aging energy infrastructure is among the top concerns for utility operators and governments worldwide. Security for last-mile energy consumption applications was frequently overlooked. "However, the introduction of AMI, smart metering, and grid digitization is steadily increasing spending for secure management services, assisting implementers to transition to IT (information technologies) and OT (operational techno...

Digital trust is the measure of confidence in an organization's ability to protect and secure the data and privacy of individuals. An increase in related government regulations has motivated CIOs and CTOs to explore technology combinations to secure data assets and thereby improve stakeholder trust. As an example, the majority of Internet of Things (IoT) technology adopters in the U.S. are also adopting blockchain technology and combining it with their IoT networks, according to the latest market study by Gartner. "The integration of IoT and blockchain networks is a sweet spot for digital transformation and innovation," said Avivah Litan, vice president at Gartner . "It is actually moving ahead at a much faster pace than expected, according to the survey." IoT and Blockchain Market Development Seventy-five percent of IoT technology adopters in the U.S. have already adopted blockchain or are planning to adopt it by the end of 2020. Among the blockchain ad...

The Internet of Things (IoT) has numerous applications within the energy and utility sector. As an example, smart meter penetration in North America is forecast to reach 81 percent by 2024. A smart meter is a new kind of gas and electricity meter that can digitally send meter readings to the energy supplier for more accurate consumption readings. Smart meters can also provide in-home displays that enable the consumer to better monitor and manage their energy usage. According to the latest worldwide market study by Berg Insight, the installed base of smart electricity meters in North America will grow at a compound annual growth rate of 8 percent between 2018 and 2024 to reach 142.8 million units at the end of the forecast period. Smart Meter Market Development Over the next five years, smart meter penetration among electricity customers in the U.S. and Canada is projected to increase from around 60 percent in 2018 to more than 80 percent by the end of 2024. "North Americ...

More CTOs are being tasked to assess the commercial applications of augmented and virtual reality technologies. These systems are increasingly being applied, due to their ability to provide immersive training environments, accurately simulate dangerous situations, and avoid costly travel and equipment-related expenses. In many cases, consumer electronics Virtual Reality (VR) headsets, controllers, and tracking systems can be used in commercial settings with few modifications. That being said, it's likely that ruggedized versions of these products will be introduced for these situations. Commercial VR Market Development According to the ABI assessment, industries with high-risk working environments -- such as energy, industrial and manufacturing or construction -- are currently the early adopters of enterprise VR training applications. Technician training in industries such as the energy sector can be perilous, mainly due to the nature of the job where technicians work on of...

Smart Cities are applying Internet of Things (IoT) based solutions. A smart city is an ecosystem that places emphasis on the use of digital technology to drive efficiency for existing social, economic and environmental processes, while developing new, data-driven processes. According to findings from the latest worldwide market study by Juniper Research, smart traffic management and smart parking initiatives will save 4.2 billion man-hours annually by 2021 -- that's equivalent to each city driver saving nearly an entire working day per year. Juniper analysts also found that while the smart city remains a relatively young concept, many metropolitan governments are beginning to recognize the need to improve in terms of competitiveness and quality of life. Moreover, increasing urban populations around the world are creating pressure on city resources, driving the need for new and efficient solutions. Smart City Transportation Juniper’s comprehensive study found that traffic ea...

The manufacture and distribution of energy is evolving, just like all the other sectors that adopt Industry 4.0 production methodologies. Across the globe more utility companies are seeking ways to reduce cost and increase efficiency in their infrastructure operations. The most progressive have applied smart technologies. In its latest study on smart metering, ABI Research estimates that smart meter deployments -- led by energy and water utilities -- will result in a global installed base of more than 1.1 billion smart meters within the next five years. Smart electricity meters will constitute the largest share, occupying more than 72 percent of the overall installed base of smart meters, but research suggests water meters are on track to witness the most overall growth. "The global smart meter market for electricity and gas is reaching a degree of maturity, as utilities in most regions are either in advanced stages of rollouts or have laid out plans for phased deployment,...

Just imagine, 6.4 billion 'connected things' will be in use worldwide in 2016 -- that's up 30 percent from 2015 -- and will reach 20.8 billion by 2020, according to the latest worldwide market study by Gartner, Inc. In 2016, 5.5 million new things will get connected to the public internet every day. Gartner now estimates that the Internet of Things (IoT) will support total services spending of $235 billion in 2016 -- that's up by 22 percent from 2015. Services are dominated by the professional category -- in which businesses contract with external providers to design, install and operate their IoT systems. However, connectivity services -- offered through telecom service providers -- and consumer services will grow at a faster pace. "IoT services are the real driver of value in IoT, and increasing attention is being focused on new services by end-user organisations and vendors," said Jim Tully, vice president and distinguished analyst at Gartner . Cons...

As national governments release their plans to decrease carbon dependency and adapt to the ongoing challenges of climate change, regional and local energy policies represent one of the most effective vehicles for achieving these new goals. Meanwhile, municipal leaders across the globe are assuming a more proactive role in the process of creating sustainable energy policies, by developing their own comprehensive energy efficiency and carbon reduction goals. According to the latest worldwide market study by Navigant Research, the result has been a number of ambitious energy projects supported by innovations in smart grid technology, demand management, alternative or renewable generation, and distributed energy resources. For cities and utilities, developing an effective cross-agency smart energy and smart city strategy enables the optimal use of energy resources and reduces redundant investments in infrastructure. According to the Navigant assessment, such a strategy also improve...

Although the fundamental ideas of applied automation in a residential setting were conceived long ago, progress to a technology-rich 'smart' home have remained somewhat elusive. Nonetheless, market development should improve as vendors utilize more effective product adoption strategies. By definition, a Smart Home is one that is designed to deliver or distribute a number of digital services within and outside the home environment, through a range of networked devices. According to the latest worldwide market study by Juniper Research, consumer spend on Smart Home services -- including entertainment, health, energy and home automation -- will reach $100 billion by 2020. That's well over twice the estimated spend for 2015, at $43 billion. Entertainment services, such as Netflix and Spotify, are playing a key role in boosting the Smart Home market size -- driven by a universal appeal, and the relatively low cost of these services. However, emerging Smart Home segments,...

The commercial building management systems (BMS) market has been the epitome of a steady market for several years. However, growing BMS connectivity and rising energy prices now mean that this is a market that is closely mirroring developments within other technology driven markets. The growing integrated building management systems market is now estimated to be worth $34 billion, according to the latest worldwide market study by ABI Research. More than eight million building management systems will be integrated with some form of Internet of Things (IoT) platform, software application or service offering by 2020. However, like many suppliers in established markets today, commercial building management system vendors face both opportunities and threats when navigating the emerging IoT ecosystem. The opportunity is IoT integration transforms the traditional BMS from an unconnected monolithic system to part of a wider and integrated sensing and control network. Support for ope...

Network connectivity and wireless communication technologies are essential for Machine-to-Machine (M2M) and the Internet of Things (IoT) solutions -- they provide the basic infrastructure for connected assets, such as sensor modules. Most vertical markets are dependent on innovation in device and communication technologies to lower long-term enablement costs -- to enhance services, and to offer new services. In particular, the generation and distribution of electrical power is a market that's already primed for change. A case in point: growth of the solar and wind energy industry will increasingly rely on IoT-based technologies and services, according to the latest global market study by ABI Research. They forecast that IoT connected wind and solar installations will grow at a CAGR of 21 percent between 2014 and 2020 -- with the total number of connections growing from the almost 2 million in 2014 to 6.3 million in 2020. "With the expected decline of government incent...

Most utility companies have a plan to utilize technologies that are key ingredients of the Internet of Things (IoT). As an example, the Smart Grid Sensor market will expand rapidly in the coming decade, with revenues growing nearly ten-fold, according to the latest worldwide market study by IHS. IHS forecasts that while the smart grid sensor market only accounted for less than 20 percent of total sensor sales revenues in 2014, they will account for 75 percent of the total sensor market in 2021. The smart grid sensor market is expected to reach the $100 million mark in 2017. To date, the market for smart grid sensors is centered mainly in North America, where there is a mixture of a few large installations and many smaller pilot projects. There's a pressing need to monitor the electric grid in real-time, and utilities are expected to gain greater value by installing smart grid sensors, which can potentially improve utility operations and performance. The United States marke...