Upcoming reports will evaluate service and
software providers helping the industry to meet sustainability,
resiliency and other needs
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm, has launched a research
study examining providers of services and software supporting
electric utility companies adopting new technologies in response to
growing demand for renewable energy and other widespread industry
changes.
The study results will be published in a comprehensive series of
ISG Provider Lens™ reports, called Power and Utilities Industry —
Services and Solutions 2024, scheduled to be released in November.
The geographically focused reports will cover industry-specialist
providers offering services for business process management, grid
modernization, asset management and customer experience.
At the same time, ISG Software Research (previously Ventana
Research) will evaluate software providers serving the industry
with grid management and enterprise asset management software. The
study results will be published in the ISG Buyers Guide for Power
and Utilities Software, also due out in November.
This is the first time that ISG Provider Lens Research and the
former Ventana Research have combined their joint capabilities to
examine both the services and software markets for a particular
industry. ISG acquired Ventana Research, a leading technology
research firm specializing in coverage of the $800 billion software
industry, late last year.
Enterprise buyers will be able to use information from the
reports to evaluate their current vendor relationships, potential
new engagements and available offerings, while ISG advisors use the
information to recommend providers to the firm’s buy-side
clients.
The global power and utilities industry continues to be impacted
by steadily increasing demand for renewable energy and
sustainability, government regulations, the development of smart
cities, the rise of eMobility, geopolitical tensions and increasing
fossil fuel prices.
The clean energy transition continues to be a major driver of
industry change. Renewables, particularly solar and wind, are
projected to surpass coal as the leading source of global
electricity generation by early 2025. This shift is fueled by
falling costs of renewable technologies, government incentives and
increasing public pressure to combat climate change. The grid,
however, is struggling to keep pace with the changing energy
landscape.
Aging infrastructure, coupled with the integration of
distributed energy resources like rooftop solar, presents
reliability concerns. Modernization efforts are underway, but they
require significant capital investment, which is further
complicated by current high interest rates and inflation.
“The global power and utilities industry right now is in a state
of flux. The path forward is fraught with challenges but also paved
with opportunity,” said Iain Fisher, director, ISG Provider Lens
Research. “The industry is turning to service providers to help
transform distribution and storage systems, harness smart grid
technologies and predictive analytics, transition to renewable
energy and improve customer experience. Efficiency, security,
innovation and asset management are top priorities.”
ISG has distributed surveys to approximately 50 service
providers specializing in the industry. Working in collaboration
with ISG’s global advisors, the research team will produce five
quadrants representing the services and solutions the typical
electric utility company is buying, based on ISG’s experience
working with its clients. The five quadrants are:
- Intelligent Business Process Management Services
(iBPMS), evaluating providers of BPM services that use
automation and analytics to improve management of business
processes, including customer service, sourcing and procurement,
human resources, finance and accounting, regulatory compliance and
other functions.
- Next-Gen IT Services, assessing companies that provide
IT managed services, including application development and
maintenance (ADM), infrastructure and cybersecurity services and
systems integration, to the power and utilities industry.
- Grid Modernization, covering providers of services,
including grid modeling, distributed energy resources management
systems (DERMS), advanced distribution management systems (ADMS),
geographic information systems (GIS), volt-var optimization (VVO),
supervisory control and data acquisition (SCADA) and advanced
metering infrastructure (AMI) that help utilities make grids more
resilient and responsive to demand.
- Enterprise Asset Management (EAM), evaluating providers
of services and solutions that allow electric utility companies to
increase asset performance and life, including asset lifecycle
management, remote monitoring, and application maintenance and
support.
- Customer Information Systems (CIS) and Customer Experience
(CX), assessing companies offering meter-to-cash (M2C),
customer service and business process solutions for power and
utility CIS platforms, encompassing account management, order
processing, billing, rate design and other functions.
Geographically focused reports will examine services and
solutions available in North America, Europe and Asia Pacific
(excluding China). ISG analysts Swadhin Pradhan (North America),
Harish B (Europe) and Mohd Aves Malik (Asia Pacific) will serve as
authors of the reports.
For the ISG Buyers Guide, ISG plans to evaluate 15 software
providers that offer software platforms specific to the power and
utilities industry in two quadrants:
- Grid Management Software, covering providers of software
solutions that enable the monitoring, control and optimization of
the electrical grid, functioning as a control center. This software
is essential for facilitating a reliable, efficient and secure
electricity supply.
- Enterprise Asset Management (EAM) Software, evaluating
providers of software solutions that facilitate the management and
maintenance of assets throughout their lifecycle, starting with
capital planning and procurement, through installation, performance
monitoring, maintenance, compliance and risk management, up to
asset disposal.
A list of identified providers and vendors and further details
on the study are available in this digital brochure. Companies not
listed in the brochure can contact ISG and ask to be included in
the study.
All 2024 ISG Provider Lens™ evaluations feature expanded
customer experience (CX) data that measures actual enterprise
experience with specific provider services and solutions, based on
ISG’s continuous CX research. Enterprise customers wishing to share
their experience about a specific provider or vendor are encouraged
to register here to receive a personalized survey URL. Participants
will receive a copy of this report in return for their
feedback.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Mexico,
Brazil, the U.K., France, Benelux, Germany, Switzerland, the
Nordics, Australia and Singapore/Malaysia, with additional markets
to be added in the future. For more information about ISG Provider
Lens research, please visit this webpage.
About ISG Software Research
ISG Software Research, previously Ventana Research, provides
authoritative market research and coverage of the business and IT
software industry. It distributes research and insights daily
through its user community, and provides a portfolio of consulting,
advisory, research and education services for enterprises, software
and service providers, and investment firms. Its on-demand service
provides structured education and advisory support through
subject-matter experts. ISG Buyers Guides support the RFI/RFP
process and help enterprises evaluate and select software providers
through tailored assessment services and the ISG Software Research
Value Index methodology. Visit www.ventanaresearch.com to sign up
for free community membership with access to research and
insights.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI and automation, cloud and data analytics; sourcing
advisory; managed governance and risk services; network carrier
services; strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs 1,600 digital-ready
professionals operating in more than 20 countries—a global team
known for its innovative thinking, market influence, deep industry
and technology expertise, and world-class research and analytical
capabilities based on the industry’s most comprehensive marketplace
data. For more information, visit www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240614049928/en/
Press:
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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