Currently, the global power market faces challenges in terms of the security of supply to keep up with demand, the fight against weather change, and the drift toward urbanization.
One of the primary challenges for power distribution companies across the globe will be to invest adequately to keep up with the growing demand for energy while keeping final energy costs under control. However, the magnitude of the above-mentioned challenges cannot be downplayed given the ongoing and serious uncertainty of the outlook for the global economy, upcoming environmental regulations, and fossil fuel prices.
Additionally, another significant challenge is the enormous urbanization, predominantly in developing and emerging countries, where the trend is particularly visible since cities, even when they grow in a relatively disorganized manner. This has made energy and power optimization a key to managing both social and environmental externalities of modern cities. Therefore, to be efficient, this optimization will need to go hand in hand with the systemic and long-term planning of “sustainable cities”.
Business Issues
- The client: Electric power distribution company
The client, headquartered in the United States, is a company that provides electricity to customers in Alabama. They are one of the country’s largest power distribution company. The client – approached Infiniti Research to engage in a market assessment study with an objective to identify potential market opportunities. Additionally, they wanted to identify new markets niches, assess market conditions, environmental forces, and key players in the global power market.
How Can a Market Assessment Help Companies in The Power Market?
A robust market assessment engagement reveals to a company or a firm what it must change to meet the market’s needs more profitably. Additionally, market assessment engagements also identify how a company in the global power market can reach its potential consumers and appeal to their needs effectively.
Summary of our Market Assessment Solution
Client Journey
The market assessment experts at Infiniti followed a strategic research approach to help the client gauge numerous factors influencing their growth in the global power market. The approach also included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures.
The Solution Benefits and the Business Impact
The power market client with the aid of Infiniti’s market assessment engagement gained insights into the market trends that helped them make necessary adjustments in their value proposition and marketing strategies. Additionally, the client built a logical metric, which correlated with the demands of their products and services.
The Future
All the stakeholders in the power market will have to deploy an infrastructure that is flexible, open, and interoperable to meet the ever-growing demands of the customers. Additionally, power market players will have to acknowledge the new reality of a digital, customer-empowered, and transactive electricity systems by embracing new business models and simplifying and redesigning the experience of residential, commercial, and industrial customers.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the global power market
