Keep Pace with the Transforming Energy Market

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Kreg McCollum is a Vice President in Leidos’ Commercial Energy Solutions Operation. Leidos is the exclusive North American provider of the Roames 3D Asset Management technology, and Kreg oversees the strategic direction, development, and delivery for Leidos’ Roames North America Program. Kreg has more than 25 years of experience as a business leader, consultant, and trusted advisor to utilities, municipalities, governments, and others in the electric power industry.

Electric utilities are responsible for maintaining much of the country’s critical power infrastructure, which makes utility asset management a core component of any utility’s strategy. Many utilities now rely on geographic information system (GIS) data and analytics to identify and plan for maintenance, replacement, and modernization of their aging assets. However, GIS data can be unreliable if the data is conflicting, inaccurate, or missing.

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According to ReportLinker research, the market for utility asset management will surpass $4 billion by 2022 at a compound annual growth rate (CAGR) of 8.25% over 5 years. While reports from Research and Markets forecast the utility analytics market and digital utility market will grow at faster CAGRs, the utility asset management market remains larger by dollar amount because of the size of territories, number of assets, and intricacy of utility infrastructure. The growth in utility asset management is heavily impacted by increasing grid complexity and investments in grid modernization, among other factors.

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Whenever a utility puts up a power line, they also must manage the vegetation that surrounds that line.  As long as there are trees and overhead power lines, vegetation management will be one of the most important – and expensive – operational areas confronting an electric utility. 

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