target audience: TECH BUYER Publication date: Feb 2024 - Document type: Tech Buyer Survey Spotlight - Doc Document number: # US51866824
IDC Tech Buyer Survey Spotlight: Utilities Look to Industry Ecosystems for the Energy Transition
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Abstract
This IDC Tech Buyer Survey Spotlight focuses on the importance of ecosystems for the utilities industry and the top business outcomes expected. In IDC's 2023 Future of Industry Ecosystems Global Survey (n = 1,288) fielded to CXOs, business-line executives, and IT leaders across 10 industries, environmental sustainability remains a focus initiative among ecosystem partners. In no industry is this more acute than the energy sector, as the transition to renewable and distributed approaches for energy consumption accelerate.
Partnerships and even formal joint ventures will continue to be critical for utility organizations that are faced with multiple challenges: establishing platforms for distributed energy resource management (DERM), engaging more closely with consumers, and the rapid electrification of industries (e.g., electric vehicles, which are ~10% of all vehicle sales versus 2-3% just two years ago).
In IDC's Future of Industry Ecosystems practice, we focus on how partners work together across three key areas: shared data and insights, shared and codeveloped applications, and shared operations and expertise. Also important in our research is enabling blended physical and digital ways of delivering products and services to the end customer and collaborating with ecosystem partners (such as through digital twins and industrial metaverse). Each of these areas, in close concert with partners within and outside their industry, can contribute to improving the utility organization's ability to be agile and innovative during this dynamic time of disruption and opportunity.