Utility 4.0—Impact of Industrial Internet of Things (IIoT) on the Global Power Industry, 2019

Utility 4.0—Impact of Industrial Internet of Things (IIoT) on the Global Power Industry, 2019

Strategies to Implement Digital Technology as a Part of the Overall Organizational Strategy are Made Possible by IIoT

RELEASE DATE
14-May-2019
REGION
Global
Research Code: MDF3-01-00-00-00
SKU: EG01971-GL-MR_23027

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Description

The Industrial Internet of Things, a critical facet of digital transformation that brings together different aspects of technology, is already leaving a lasting footprint on the power industry, and as new decade begins, the impact it could potentially have on the power industry could be a real game changer.

Bringing Different Aspects of Technologies Together to Achieve a Single Purpose:
IIoT brings together next-generation, state-of-the-art aspects of technologies, such as fourth-generation sensors, Big Data, and edge intelligence, to the table, and with it also comes the power to monitor and harness data to derive intelligence which can act as the difference in a potential win or lose situation. This intelligence gives rise to new digital capabilities, such as predictive analysis and maintenance, remote monitoring, and end-to-end automation of an asset in operation, thus transforming an existing asset into a digitally agile, robust, and reactive one.

Can IIoT Make a Difference To How Power is Generated and Transmitted?
Utilities with assets in power generation often face stiff technical and business challenges in operation. While the technical challenges are different between utilities that generate conventional power with those that generate renewable power, the common thing that both utilities would agree on is neither operates without overcoming these challenges. These could be operation and maintenance, procurement challenges based on load visibility, or perhaps cybersecurity challenges. This is where IIoT can make a real difference. For example, consider a coal plant operating at a capacity factor of 40%, facing operational and maintenance challenges. With IIoT, next-generation sensors are installed across the plant, monitoring each and every movement. A new control architecture and operating platform is designed and developed based on artificial intelligence and is installed. That same plant is now likely to witness at least 10% to 20% efficiency gains in operation. More so, plant operators can now predict any operational and maintenance issues beforehand. However, this does require investment in capital, but the Return on Investment (ROI) is definitely positive.

In the case of power transmission, utilities often face maintenance issues and technical challenges, such as line losses and operation of legacy assets. While, turning grids smarter through the smart grid initiative alleviates some challenges mentioned above, a case for implementing an end-to-end IIoT strategy definitely exists and offers immense possibilities. Moreover there is electricity retail.

What is Included in This Frost & Sullivan Research?
This research analyses the entire power industry value chain, starting from generation till end consumption, with regard to opportunities for implementing the IIoT concept. This is done by gathering expert opinion from market participants and decoding real-world case studies. This research also includes IIoT approach strategies for energy utilities. In addition, major market participants with IIoT capabilities have been shortlisted. These include Siemens, ABB, Schneider Electric, Emerson, Honeywell, Eaton, Intel, ABB, Texas Instruments, GE, Johnson Controls, Atmel, C3IoT, Microsoft, Google, SalesForce, Thingworx, Infosys, Capgemini, Enel DarkTrace and N-SIDE, among others.

Table of Contents

Research Key Findings

Potential Revenue Forecast for IIoT Market Participants in Power Generation

IIoT Fundamentals—Enhancing an Existing Process

IIoT Fundamentals—What Does IIoT Bring to the Table?

IIoT Fundamentals—Sensors Play a Critical Role to Begin With

IIoT Fundamentals—Data Science and Engineering

IIoT Fundamentals—Data Infrastructure Management

IIoT Fundamentals—Augmented and Virtual Reality

IIoT Fundamentals—Bringing Different Digital Technologies Together

Where Can the IIoT Concept be Applied in the Power Sector?

Research Scope

Key Questions This Research Will Answer

Current State of Ownership in Power Generation

Business Challenges Faced by Utilities in Power Generation

Technical Challenges Faced by Power Generation Utilities

How Can IIoT Help Tackle These Challenges?

Devising a Robust Performance Framework is Necessary

Example Case 1—Utilizing GE’s Asset Performance Management

Example Case 2—Utilizing IoT to Track and Improve Process Flow

Example Case 3—Using AI to Predict Cybersecurity Attacks

Example Case 4—Power Plant Digitalization

Can IIoT Help in Making T&D Grids Smarter?

Technical Losses—A Case for Making the Grid More Efficient

Why Does T&D Infrastructure Require Systematic Investment?

How Much is Going to be Invested Into Making the Grids Smart?

Frost & Sullivan’s Approach to Framing an IIoT Solution for T&D

Example IT Architecture—ABB’s ADMS Network Manager

Example Case 5—MIR Innovation and New York Power Authority (NYPA): T&D Inspection and Maintenance

How is the Electricity Retail Landscape Shifting?

Shifting Electricity Retail Landscape

Rise in the Number of Energy Entry Points in Retail Networks

What is the Role of Different Actors When it Comes to EoT*?

Example Case 6—IoT-enabled Charging Station: A Data Hub

How Many Smart Meters Will be There by 2025?

Smart Metering Forecast Discussion

Example Case 7—Customer Services Platform

How Can IIoT Improve Existing Grid Intelligence?

Example Case 8—Minimizing Power Distribution Losses Using ABB Network Manager

Example Case 9—Updating Existing Grid Management Solutions to Meet Future Needs

Potential Revenue Forecast for IIoT Market Participants in Power Generation

Potential Revenue Forecast Discussion for IIoT Market Participants in Power Generation

Industrial Internet of Things in the Power Sector Market Ecosystem

What Should be the IIoT Approach Strategy for Energy Utilities?

Participant Profile—Emerson Automation Solutions

Participant Profile—C3, Inc.

Participant Profile—Landis+Gyr

Participant Profile—N-SIDE

Participant Profile—DARKTRACE

Participant Profile—Teradata

Growth Opportunity 1—New Found Capabilities

Growth Opportunity 2—Partnerships/Mergers and Acquisitions

Strategic Imperatives for Success and Growth

Last Word

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
The Industrial Internet of Things, a critical facet of digital transformation that brings together different aspects of technology, is already leaving a lasting footprint on the power industry, and as new decade begins, the impact it could potentially have on the power industry could be a real game changer. Bringing Different Aspects of Technologies Together to Achieve a Single Purpose: IIoT brings together next-generation, state-of-the-art aspects of technologies, such as fourth-generation sensors, Big Data, and edge intelligence, to the table, and with it also comes the power to monitor and harness data to derive intelligence which can act as the difference in a potential win or lose situation. This intelligence gives rise to new digital capabilities, such as predictive analysis and maintenance, remote monitoring, and end-to-end automation of an asset in operation, thus transforming an existing asset into a digitally agile, robust, and reactive one. Can IIoT Make a Difference To How Power is Generated and Transmitted? Utilities with assets in power generation often face stiff technical and business challenges in operation. While the technical challenges are different between utilities that generate conventional power with those that generate renewable power, the common thing that both utilities would agree on is neither operates without overcoming these challenges. These could be operation and maintenance, procurement challenges based on load visibility, or perhaps cybersecurity challenges. This is where IIoT can make a real difference. For example, consider a coal plant operating at a capacity factor of 40%, facing operational and maintenance challenges. With IIoT, next-generation sensors are installed across the plant, monitoring each and every movement. A new control architecture and operating platform is designed and developed based on artificial intelligence and is installed. That same plant is now likely to witness at least 10% to 20% efficiency gains in operation. More so, plant operators can now predict any operational and maintenance issues beforehand. However, this does require investment in capital, but the Return on Investment (ROI) is definitely positive. In the case of power transmission, utilities often face maintenance issues and technical challenges, such as line losses and operation of legacy assets. While, turning grids smarter through the smart grid initiative alleviates some challenges mentioned above, a case for implementing an end-to-end IIoT strategy definitely exists and offers immense possibilities. Moreover there is electricity retail. What is Included in This Frost & Sullivan Research? This research analyses the entire power industry value chain, starting from generation till end consumption, with regard to opportunities for implementing the IIoT concept. This is done by gathering expert opinion from market participants and decoding real-world case studies. This research also includes IIoT approach strategies for energy utilities. In addition, major market participants with IIoT capabilities have been shortlisted. These include Siemens, ABB, Schneider Electric, Emerson, Honeywell, Eaton, Intel, ABB, Texas Instruments, GE, Johnson Controls, Atmel, C3IoT, Microsoft, Google, SalesForce, Thingworx, Infosys, Capgemini, Enel DarkTrace and N-SIDE, among others.
More Information
No Index No
Podcast No
Author Vasanth Krishnan
Industries Energy
WIP Number MDF3-01-00-00-00
Is Prebook No
GPS Codes 9B07-C1,9593,9420,9851,9852