Global Power Industry Report 2019: Utility 4.0 - Impact of Industrial Internet of Things (IIoT)

Friday, 31. May 2019 12:27

Dublin, May 31, 2019 (GLOBE NEWSWIRE) -- The "Utility 4.0 - Impact of Industrial Internet of Things (IIoT) on the Global Power Industry, 2019" report has been added to ResearchAndMarkets.com's offering.

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 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

  • ABB
  • Atmel
  • C3 Inc.
  • Capgemini
  • DARKTRACE
  • Eaton
  • Emerson
  • Enel DarkTrace
  • GE
  • Google
  • Honeywell
  • Infosys
  • Intel
  • Johnson Controls
  • Landis+Gyr
  • Microsoft
  • N-SIDE
  • SalesForce
  • Schneider Electric
  • Siemens
  • Teradata
  • Texas Instruments
  • Thingworx

Key Topics Covered:

1. Executive Summary
Research Key Findings
Potential Revenue Forecast for IIoT Market Participants in Power Generation

2. Industrial Internet of Things - An Introduction
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

3. Impact of Industrial Internet of Things on Power Generation
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

4. Impact of Industrial Internet of Things on Transmission and Distribution
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

5. Impact of Industrial Internet of Things in Power Retail
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

6. Industrial Internet of Things in the Power Sector - Market Analysis and Strategy
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?

7. IIoT in the Power Industry - Market Participant Profiles
Participant Profile - Emerson Automation Solutions
Participant Profile - C3, Inc.
Participant Profile - Landis+Gyr
Participant Profile - N-SIDE
Participant Profile - DARKTRACE
Participant Profile - Teradata

8. Growth Opportunities and Companies to Action
Growth Opportunity 1 - New Found Capabilities
Growth Opportunity 2 - Partnerships/Mergers and Acquisitions
Strategic Imperatives for Success and Growth

9. The Last Word

10. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/d8cdlx

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Related Topics: Internet of Things and M2M, Electricity 

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