Iot Jolts Energy, Utility Providers Into New Era

IOT is rapidly transforming several industries, including the energy and utilities sectors. According to a 2023 Infosys and HFS Research study, 94% of organisations in the energy and utilities sectors plan to increase their IT spending in the next year, with much of this spending likely to be channelled into areas such as cyber security, cloud platform, analytics and IOT. IOT is driving the adoption of edge computing to process large amounts of data and improve operational efficiency. IOT is also changing how energy and utilities organisations operate on several levels, including asset monitoring, predictive maintenance, and energy efficiency.