Market Opportunities that Are Affecting Energy and Solar As We Know It

Posted by Author 3 months ago

Innovation has clearly taken over as different industries find new digital technologies that help and best suit them. These businesses are now at the intersection of transition from traditional to digital and is driving at a fast pace to reach and reap the benefits of what the other side of the road has to offer to their sales, manpower, and target reach.

For the Energy and Utilities (E&U) industry, shifting to automation—smarter infrastructure and leveraged digital technologies, analytics and Internet of Things (IoT)—has helped in expanding and creating more market opportunities. They have reached a new level of growth, market reach and—possibly—leads. In today's competitive landscape, what are those newly opened market opportunities that are affecting energy and solar businesses?

 

Market Opportunity #1: Spotlight on Grid Security

Every industry deserves to be protected. Just like how an antivirus works on devices, the rise of smart grids comes along the rise of vulnerability in security and cyber attacks. With this, E&U companies will have higher chances of partnering with third party companies who offer security countermeasures. Expect to have a thicker defence and higher level of security as there will be stronger monitoring involved. The industry will be much more careful to ensure the safety of the business and customers from potential cyber attacks.

 

Market Opportunity #2: Prosumers get a Piece of the Pie

As digital applications come into play, consumers who are able to choose or customise products to be in line with what they need will give a spotlight to the asset-light business model. Since these consumers have an idea about what they're purchasing, they can make informed choices regarding energy consumption, storage and production. And these informed choices of prosumers often lead to the contribution in the shared economy, meaning not only do companies get a piece of the pie but consumers as well.

 

Market Opportunity #3: Faster and Real-time Updates

Mobile devices also have a major contribution to the E&U industry since innovation has lead to faster and real-time updates. There are a lot of examples for this: making forms digital; using drones to scout the area; instant updates; and faster and efficient workforce to name a few.

Since forms are now in digital format, the E&U industry can see entered data in real-time, which can be customer data, performance data, and the like. Next is the power of drones and other related devices. This can provide real-time evaluation of scouted areas and a clearer view of areas being scouted, thus providing clearer and precise data. Meanwhile, instant updates have provided real-time activities and results while everyone is on the go; there is no need for people to stay in the office to know what's going on, thus making way for faster responses.

Lastly, digital technology has promoted faster and efficient performance of the workforce since it has provided tools that make tasks lighter. With this, employees can now focus more on tasks that are needed with more attention and expertise.

 

Market Opportunity #4: More Chances of Interacting

As energy gains the spotlight, companies in the E&U industry will need to find ways on how to have the advantage in the competition. This means that the sense of urgency being exuded makes businesses find ways on how to provide better customer experience than their competitors. E&U companies will now explore different platforms on how to interact with customers and make them satisfied with their experience.

As the E&U industry gets more attention from consumers since they are entering the limelight, a lot of marketing opportunities have opened for them. This will definitely help them grow and widen their reach. Moreover, their crossing of the intersection from traditional to digital has created an opening for employees who are looking for jobs.

For businesses in the E&U industry, it is best to find a reliable company that offers energy outsourcing services to help the business grow while saving on other expenses. With Global TeleForce, businesses in the industry can have an access to a pool of talented people to work with them while exploring the different marketing opportunities that digital technology has to offer. To know more, contact us at 1300 77 88 62 or email us at enquiry@globalteleforce.com.

Image Credit: WNS