How IIoT is Revolutionizing Utilities
IIoT is creating gainful opportunities within the electricity, water and gas industries; benefiting both the consumer and the utilities. Utility companies are connecting with technology companies to facilitate innovation, improve economic growth, optimize the flow of information, increase energy efficiency and ensure supply. The boost in the innovation of energy and other utilities has significantly driven down value. The global number of devices being managed by utility companies is expected to rise from 485 million in 2013 to 1.53 billion in 2020.
There are many IIoT solutions revolutionizing the utility industry.
Connected Smart Meters keep tabs on how resources are circulated and utilized, bringing about lesser operational costs, theft and loss reduction, and improved forecasting. Globally, 900 million+ Smart Meters are expected to be connected by 2020 (Source: BI Intelligence).
Other than electric smart metering, there has been an activity seen in water and gas markets. It is also believed that the challenge of managing gas and water data using Smart Gas and Water Meters may not be as difficult as electric meter data management. Also, the cost of a breakdown in the distribution grid can be significantly higher in gas and water industry than the electrical industry.
Power suppliers are investing in IIoT solutions to facilitate the transition to a low-carbon economy and change the way power is transmitted and consumed. Using Smart Grid technologies, industry leaders are optimizing electricity generation and distribution, shifting demand loads and lessening operational costs for better management of the energy supply.
Water utilities are also evaluating the potential to install smart grid technologies. The Smart Grid for Water offers optimization of resources like the water, the labor associated with producing and delivering that water; and the power, chemicals and other consumables required to deliver it.
By the integration of multiple utilities in a single shared grid, numerous practical benefits can be gained resulting in the empowerment of water, electricity and gas industries.
Pipeline Monitoring and Management:
Oil, gas, and water pipeline operators are using the Internet of Things to monitor the health of critical infrastructure. With the capacity to observe hundreds of miles of pipeline from a central point, they can reassure that infrastructure and systems are performing optimally, discover setbacks quick, and implement more efficient and predictive maintenance.
See how SSI implemented a web-based data and analytics application for a leading German utility provider (Link).
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