Data Monetization in the Power and Utilities Industry, Forecast to 2030

Data Monetization in the Power and Utilities Industry, Forecast to 2030

Post 2020, the 5th Wave of Computing Caused by the Convergence of AI, Big Data, 5G and IoT will Enable Effective Monetization of Data

RELEASE DATE
19-Sep-2019
REGION
Global
Research Code: MEB6-01-00-00-00
SKU: EG02014-GL-MR_23587

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Description

In today’s data-driven economy, data is a strategic asset to any business, and organizations around the world are occupied with anomalous amounts of data. Frost & Sullivan expects that the volume of data created would reach 175 Zettabytes (ZB) by 2025. Driven by this explosive growth in data and technological advancements in Big Data and computing, many businesses have now realized the value that data would unlock and are currently exploring ways to monetize their available data. The global data monetization market is in its nascent stages as organizations are still figuring out how best to mine, manage and monetize the data they create. Strong growth is forecast across a number of industry verticals, as better monetization combined with greater data has an impact.

Data monetization (DM) is the process of generating revenue from the available data by transforming it into a meaningful coherent whole. The process of DM can be carried out in 2 ways: directly and indirectly. In direct monetization, data is sold in its raw form or in chunks, without any processing, while indirect monetization involves the processing of data to extract insights or create value-added services that can be used to support business decisions.

As mentioned earlier, monetization of data across different business verticals is still at its early stages and there are significant regulatory and reputational barriers to overcome. Organizations will need to build a deep understanding of privacy and regulatory compliance requirements for utilizing the data and need to choose the right path towards DM.

Like any other businesses, the global energy and utilities industry is in the midst of a transformation driven by 3D’s – Decentralization, Digitalization and Decarbonization. These 3 trends are disrupting the way in which electricity is generated, transmitted and consumed by end-users. As the energy and utilities industry continues to rapidly transform, massive amounts of data are continuously generated, and the area of DM is increasingly becoming a critical topic for the industry.

Other factors include regulatory compliance, data privacy, consumer protection, and security protocols.

This study provides insights into DM across the energy and utilities industry and its adoption across 3 main segments (power generation, demand side management and infrastructure and asset management) in the industry. The study includes the following:

• In the first part, it explores the concept of DM in general and the different business models and their adoption across different business
verticals with use case examples.
• In the second part, it offers insights into the current state of the global utilities and energy industry, the key consumers who would be interested
in the data from this market, and the 3 main segments within the industry.
• The last part includes insights into each of the segments, and use cases related to the monetization of data across each segment.

Key Issues Addressed

Currently, the key question for utilities and energy companies is, how to turn that data into money – how to monetize the data? To monetize data, it is imperative that utilities and energy companies address the following issues:

  • Understand the type of data they own and the potential value of their data
  • Pick the right business model based on their in-house capabilities. Will they just sell the raw data? Will they sell the insights or create value-added services from the data? Will they partner with a third party for analytics?

Table of Contents

Key Findings

Executive Summary

Executive Summary (continued)

Executive Summary (continued)

DM in the P&U Industry

Research Scope

Key Questions Addressed in the Study

Research Methodology

Digital Transformation

Data Bubble

What is DM?

Four Components of DM

Pathways to DM

Pathways to DM (continued)

DM Pyramid

Key Enablers of DM

Key Barriers for DM

Data Types Available for Monetization

DM Use Cases and Current Level of Adoption Across Business Verticals

Data Regulations and Protection Laws

DM Business Models

Direct DM Business Model

Direct DM Business Model—Examples

Indirect DM Business Model

Indirect DM Business Model—Examples

Global Power and Utilities Market

DM in the Power and Utilities Market

DM in the Power and Utilities Market (continued)

Key Monetizable Power and Utilities Market Data

Key Consumers of Power and Utilities Market Data

DM in the P&U Industry—Revenue Forecast

DM in the P&U Industry—Percent Revenue Forecast by Region

DM in the P&U Industry—Revenue Forecast by Region

DM in the P&U Industry—Growth by Region

DM in the P&U Industry—3 Main Segments for Monetization

DM in the P&U Industry—Percent Revenue Forecast by Segment

DM in the P&U Industry—Revenue Forecast by Segment

DM in the DSM Segment

DM in the IAM Segment

DM in the PG Segment

DM Examples in the P&U Industry—Use Case 1

DM Examples in the P&U Industry—Use Case 2

DM Examples in the P&U Industry—Use Case 3

DM Examples in the P&U Industry—Use Case 4

DM Examples in the P&U Industry—Use Case 5

DM Examples in the P&U Industry—Use Case 6

DM Examples in the P&U Industry—Use Case 7

Future Perspective—DM in the P&U Industry

Growth Opportunity 1—AI/ML

Growth Opportunity 2—Partnerships & Business Models

Strategic Imperatives—DM in the P&U Industry

3 Big Predictions

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
In today’s data-driven economy, data is a strategic asset to any business, and organizations around the world are occupied with anomalous amounts of data. Frost & Sullivan expects that the volume of data created would reach 175 Zettabytes (ZB) by 2025. Driven by this explosive growth in data and technological advancements in Big Data and computing, many businesses have now realized the value that data would unlock and are currently exploring ways to monetize their available data. The global data monetization market is in its nascent stages as organizations are still figuring out how best to mine, manage and monetize the data they create. Strong growth is forecast across a number of industry verticals, as better monetization combined with greater data has an impact. Data monetization (DM) is the process of generating revenue from the available data by transforming it into a meaningful coherent whole. The process of DM can be carried out in 2 ways: directly and indirectly. In direct monetization, data is sold in its raw form or in chunks, without any processing, while indirect monetization involves the processing of data to extract insights or create value-added services that can be used to support business decisions. As mentioned earlier, monetization of data across different business verticals is still at its early stages and there are significant regulatory and reputational barriers to overcome. Organizations will need to build a deep understanding of privacy and regulatory compliance requirements for utilizing the data and need to choose the right path towards DM. Like any other businesses, the global energy and utilities industry is in the midst of a transformation driven by 3D’s – Decentralization, Digitalization and Decarbonization. These 3 trends are disrupting the way in which electricity is generated, transmitted and consumed by end-users. As the energy and utilities industry continues to rapidly transform, massive amounts of data are continuously generated, and the area of DM is increasingly becoming a critical topic for the industry. Other factors include regulatory compliance, data privacy, consumer protection, and security protocols. This study provides insights into DM across the energy and utilities industry and its adoption across 3 main segments (power generation, demand side management and infrastructure and asset management) in the industry. The study includes the following: • In the first part, it explores the concept of DM in general and the different business models and their adoption across different business verticals with use case examples. • In the second part, it offers insights into the current state of the global utilities and energy industry, the key consumers who would be interested in the data from this market, and the 3 main segments within the industry. • The last part includes insights into each of the segments, and use cases related to the monetization of data across each segment.--BEGIN PROMO--

Key Issues Addressed

Currently, the key question for utilities and energy companies is, how to turn that data into money – how to monetize the data? To monetize data, it is imperative that utilities and energy companies address the following issues:

  • Understand the type of data they own and the potential value of their data
  • Pick the right business model based on their in-house capabilities. Will they just sell the raw data? Will they sell the insights or create value-added services from the data? Will they partner with a third party for analytics?
More Information
No Index No
Podcast No
Author Swagath Navin Manohar
Industries Energy
WIP Number MEB6-01-00-00-00
Is Prebook No
GPS Codes 9A33,9AFE-A4,9AFF-A4,9B00-A4,9851,9852,GETE