Global Grid Digitalization Investment to Hit US$150 Billion by 2030 Amid Growing Demand for Energy Capacity and Flexibility

and ABB.Energy digital twins – Digital twins developed by companies such as  Siemens are critical to design, model, simulate, plan, and operate energy infrastructure.(Generative) AI - AI and Gen AI are increasingly becoming general purpose technologies ("Swiss army knife") addressing use cases such a preventive maintenance, demand-response orchestration, amplification of customer service and maintenance personnel, and compliance reporting.Energy Grid Management Software – Companies such as  GE Vernova and Hitachi Energy offer a portfolio of energy grid software, including Advanced Distribution Management System (ADMS), Distributed Energy Resources Management System (DERMS), and Energy Management Systems (EMS).Connectivity and Cloud – Smart metering use cases go beyond traditional end user energy usage monitoring to provide granular edge and cloud intelligence needed to regulate and stabilize the upstream grid in real-time and the use of metering data for billing purposes by resellers in an increasingly competitive environment.  Honeywell is key actor in this space.

However, grid digitalization faces multiple barriers and inhibiting factors ranging from a lack of financing, rigid regulation, conservative and protectionist attitudes, aging workforces lacking "digital" expertise, limited competition, long infrastructure lifecycles, and cybersecurity concerns. Bonte concludes, "Going forward, it will be critical for energy utilities and technology providers to develop agile design and deployment practices, tap into innovative funding mechanisms, leverage open platforms and ecosystem cooperation, and address the human factor of embedding technology into company processes and culture. There is no room for failure. Others will be ready to invest in and take control of energy assets if needed."

These findings are from ABI Research's Digitalization Challenges in Smart Energy Grids report. This report is part of the company's Smart Energy for Enterprises and Industries research service, which includes research, data, and ABI Insights. 

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