How is IoT technology transforming the Energy industry?

The Energy & Utilities and Oil & Gas industries have traditionally been slower in adopting next-gen technologies, such as IoT, including utilizing asset-generated data and IoT platforms, to enable connected enterprises to leverage real-time insights. The industries face multiple challenges.

However, a few listed below can be tackled with IoT solutions.

1. Increasing downtimes, glaring skill gaps between field personnel and trained workforce, falling workforce, and asset utilization lead to lower service quality
2. Aging infrastructures, poor asset reliability, and limited visibility into asset conditions result in fluctuating load patterns that ultimately impact power reliability
3. The generated real-time insights, if any, get stored into silos, thus hampering utilization of OT-insights in building smart, AI-led predictive models that can deliver IoT-led optimization and efficiencies
4. Hazardous field operations increase human costs of inspection of assets located in dangerous terrains
5. Frequent outages due to rising floods, storms, wildfire continue to hamper reliability, lowering resilience and quality of service delivery—with >73% of outages lasting between a few minutes to more than an hour.

The IoT, AI/ML, and deep learning technology solutions, leverage live insights and analytics across T&D networks and enterprises, and can reverse this trend and improve profit margins. Know how it works: IoT Solutions for Connected Energy & Utilities and Oil & Gas Industries | HCLTech