In the intricate web of modern utilities, asset management emerges as a linchpin for success. From water and wastewater to energy and telecommunications, utilities are tasked with maintaining, upgrading, and optimizing their assets to ensure reliability, sustainability, and cost-effectiveness. Strategically overseeing the lifecycle of infrastructure assets, utilities can navigate challenges, seize opportunities, and deliver optimal service to communities.
The Utility Asset Management market, valued at USD 4.1 billion in 2022, is expected to witness substantial growth, projecting an increase from USD 4.50 billion in 2023 to USD 9.58 billion by 2032. This forecast indicates a notable compound annual growth rate (CAGR) of 9.90 percent during the period from 2023 to 2032. Driving this expansion are factors such as the continuous expansion of global business and residential infrastructure, coupled with escalating energy demands.
This edition of Utilities Tech Outlook presents a comprehensive overview of the latest developments in utility asset management, shedding light on evolving strategies, innovations, and trends shaping the global landscape.
This edition features insightful articles from industry leaders Cannon Lord, Manager of Data and Analytics, Summit Utilities, and Steven King, Chief Technology and Strategy Officer at Lumio. Drawing upon his extensive expertise and experience in the utilities industry, Cannon Lord delves into being at the forefront of the transformation for migration to Microsoft’s Azure environment from traditional SQL Server setups that ensures scalability, sustainability practices, and technological advancements within the utility sector.
Steven King provides valuable perspectives on clean power sources like solar energy, combined with smart technologies, enabling consumers to generate, store, and manage their energy sustainably and affordably.
We hope this edition of Top Utilities Asset Management Solutions Providers in 2024 helps you find the appropriate partner that may guide you to unlock the vast potential of utilities technology and innovations.
