According to a recent report by the market research firm Research and Markets, utility spending on Internet of Things (IoT) technology will reach nearly $12 billion by 2020, up from less than $5 billion in 2015. Another forecast by market research firm IDC predicts that 25% of the top 100 U.S. utilities will reduce their IT costs by migrating their IT infrastructure to the cloud.
While the pace of change is often overhyped, the truth is we are on an irreversible path towards a more customer-centric and flexible energy system – and it is one that will rely on existing and not-yet-developed technologies to reach its full potential.
In this playbook, we will discuss