6 Challenges for Field Services in the Energy, Power & Utilities Industry
1. Declining demand for traditional energy
Traditional energy producers are facing declining demand due to the increasing use of renewable energy. Companies in the platform economy are generating their own energy, which is causing problems for traditional providers. To address this, traditional energy providers are shifting their focus to improving network monitoring and control using intelligent systems such as smart meters.
2. New entrants increase competition
Renewable energy is attracting new suppliers, increasing pricing pressure on traditional energy suppliers. To maintain competitiveness, traditional suppliers need to cut costs due to lower profit margins.
3. Optimizing routes and work orders
The expanded role of the Energy, Power & Utilities industry also comes with a greater demand on its resources. Without an intelligent and comprehensive system for allocating work orders and optimizing routes, it will be difficult if not impossible to react to all service requests in a timely manner, much less in real-time.
4. Workforce forecast and capacity management
The energy industry must expand its expertise and workforce to keep up with the increasing demand for services across various sectors of digital transformation. This requires an intelligent system to manage technicians' skill set, availability, and location. Additionally, the growing popularity of smart meters demands a sufficient number of skilled technicians for installation and monitoring.
5. Challenges of complex new energy sources
Wind and hydroelectric energy plants are complex systems that face diverse and unpredictable conditions during operation. This makes it challenging to plan and locate service needs based on geography. Regular inspection and maintenance are critical to ensure efficient operation and minimize downtime.
6. Growing industries depend on energy
The rise of e-mobility depends on widespread charging infrastructure, creating a demand for new services that cater to energy system requirements and customer needs.