Power Industry Top 20 Themes Predictions for 2022 - Thematic Research
Summary
We classify our top 20 themes for 2022 into three groups. The major technology themes impacting the power sector in 2022 will be: artificial intelligence (AI), big data, blockchain, cybersecurity, cloud computing, the Internet of Things (IoT), virtual and augmented reality (VR and AR), robotics, electric vehicles (EVs), and smart grid.
The major macroeconomic themes impacting the power sector in 2022 will be: COVID-19, China impact, and environmental, social, and governance (ESG).
The major industry themes impacting the power sector in 2022 will be carbon emissions, renewable energy, energy transition, distributed generation, hydrogen, energy storage, and predictive maintenance.
Scope
- This report covers the top 20 themes that would impact the power industry in 2022. For each theme, the report gives a series of predictions, highlight the leaders and laggards, and point you to further reading.
- Companies who invest in the right themes become success stories; those who miss the big themes end up as failures. Given that so many themes are disruptive, it is very easy to be blindsided by industry outsiders who invade your sector.
- This report is a multi-theme report covering 20 themes, drawn from industry, technology, and macroeconomics. It depicts a short-term outlook for the industry from the perspective of these 20 themes.
- Executive Summary
- 2022 Theme Map
- Viewing the world's data by theme helps you make important decisions
- Table Figure 1: Our 2022 theme map shows the biggest themes driving growth in the power sector
- Viewing the world's data by theme helps you make important decisions
- Artificial Intelligence
- AI as a growth driver for power utilities
- Table Figure 2: Artificial Intelligence
- AI to resolve the challenge of data and energy management.
- Utilities to use AI to streamline processes
- Increased use of AI for boosting customer care operations in 2022
- Winners and losers
- Further reading
- AI as a growth driver for power utilities
- Big Data
- Increasing use of big data to enhance customer service
- Table Figure 3: Big Data
- 5G adoption will revolutionize handling of big data by utilities
- Increased adoption of predictive maintenance models
- Big data usage in next-generation mobility
- Winners
- Further reading
- Increasing use of big data to enhance customer service
- Blockchain
- Blockchain technology is moving from the pilot phase to the mainstream
- Table Figure 4: Blockchain
- Wholesale trading of electricity will increase the use of blockchain-based platforms.
- Blockchain microgrid is still an emerging approach but is now being piloted
- Winners
- Further reading
- Blockchain technology is moving from the pilot phase to the mainstream
- Cybersecurity
- Utilities will grapple with increasing threats
- Table Figure 5: Cybersecurity
- IoT devices will expose grids to increased cyber-attacks
- The proliferation of smart devices will increase number of attack vectors in utilities
- AI will find increased use in aiding security analysts stay ahead of threats.
- Winners and losers
- Further reading
- Utilities will grapple with increasing threats
- Cloud Computing
- Rapid cloud adoption in the power segment to continue in 2022
- Table Figure 6: Cloud Computing
- Cloud will help maintain infrastructure and support new technology
- Winners and losers
- Further reading
- Rapid cloud adoption in the power segment to continue in 2022
- Internet of Things
- IoT will address the challenge of asset management:
- Table Figure 7: Internet of Things
- The adoption of IoT will be incremental
- IoT will enable to address the challenge of energy management
- Winners and losers
- Further reading
- IoT will address the challenge of asset management:
- Virtual and Augmented Reality
- Power utilities will witness increased demand for virtual collaboration tools in 2022
- Table Figure 8: Virtual and Augmented Reality
- VR is paving the way for enhanced safety and efficiency in the power industry
- Rising AI presence and its use in AR and VR
- Winners and losers
- Further reading
- Power utilities will witness increased demand for virtual collaboration tools in 2022
- Robotics
- COVID-19 is accelerating the deployment of robotic systems
- Table Figure 9: Robotics
- With increasingly decentralized infrastructure model, robotics are here to stay
- Increased safety and health benefits to power utility workers with robotic systems
- Winners
- Further reading
- COVID-19 is accelerating the deployment of robotic systems
- Electric Vehicles
- EV sales are predicted to surge in 2022
- Table Figure 10: Electric Vehicles
- 2022 will see increased investment in EV charging space
- Power utilities will collaborate with EV manufacturers
- Winners and losers
- Further reading
- EV sales are predicted to surge in 2022
- Smart Grid
- Electricity grids are getting smarter, distributed and digital
- Table Figure 11: Smart Grid
- Smart grid investments are expected to rise in 2022
- Smart and flexible grid will continue to promise resilient power at uncertain times
- Winners
- Further reading
- Electricity grids are getting smarter, distributed and digital
- COVID-19
- Renewable energy share to increase despite the ongoing COVID- 19 pandemic
- Table Figure 12: COVID-19
- Supply chain ecosystem continues to make headway
- Fall in energy prices unlikely in 2022
- Winners
- Further reading
- Renewable energy share to increase despite the ongoing COVID- 19 pandemic
- China Impact
- Commodity prices on the rise affecting the solar PV sector
- Table Figure 13: China Impact
- China will continue to a world leader in renewable energy investment
- China is the biggest world market for semiconductors, auto parts, AV systems, and batteries
- Winners
- Further reading
- Commodity prices on the rise affecting the solar PV sector
- ESG
- COVID-19 escalates the importance of sustainable energy solutions globally
- Table Figure 14: ESG
- More companies to have net-zero targets
- Moving away from coal use still a long way to go for coal dependent countries.
- Winners and losers
- Further reading
- COVID-19 escalates the importance of sustainable energy solutions globally
- Carbon Emissions
- Continued focus on mitigating carbon emissions
- Table Figure 15: Carbon Emissions
- Increasing impetus on companies to accurately report carbon emissions
- Emphasis on decarbonizing the transportation sector
- Winners
- Further reading
- Continued focus on mitigating carbon emissions
- Renewable Energy
- Renewable energy growth is expected to rise in 2022
- Table Figure 16: Renewable Energy
- Jobs in renewable energy sector are expected to grow
- Green hydrogen is the most sought-after application for renewable energy
- Winners
- Further reading
- Renewable energy growth is expected to rise in 2022
- Energy Transition
- Major economies continue to pursue clean energy push
- Table Figure 17: Energy Transition
- Regulatory and investor pressures will prompt course correction for companies
- Power companies continue to advance energy transition projects
- Winners
- Further reading
- Major economies continue to pursue clean energy push
- Distributed Generation
- Distributed generation will continue to rise
- Table Figure 18: Distributed Generation
- Microgrids in 2022 will make bigger moves in the power sector
- Community microgrid projects showing opportunity for scale
- Winners
- Further reading
- Distributed generation will continue to rise
- Hydrogen
- Industry betting big on GW-scale green hydrogen projects
- Table Figure 19: Hydrogen
- Governments to play a critical role in realizing the hydrogen economy
- Scaling Up Electrolysers
- Winners
- Further reading
- Industry betting big on GW-scale green hydrogen projects
- Energy Storage
- The energy storage sector will witness a rapid growth worldwide
- Table Figure 20: Energy Storage
- EVs and renewables to help propel ESS deployment.
- Battery factories scaling up battery production
- Winners
- The energy storage sector will witness a rapid growth worldwide
- Predictive Maintenance
- Technology advances will dictate maintenance strategy
- Table Figure 21: Predictive Maintenance
- Predictive maintenance will find increased use in the power segment in 2022
- Predictive maintenance applications will be adopted in wind farms
- Winners
- Further reading
- Technology advances will dictate maintenance strategy
- Glossary
- Table Glossary
- Further Reading
- GlobalData reports
- Table GlobalData reports
- GlobalData reports
- Our thematic research methodology
- Table Figure 22: Our five-step approach for generating a sector scorecard
- About GlobalData
- Contact Us
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