Having to revisit their strategies while facing a highly dynamic market environment, utility companies are exploring new avenues of growth. Expanding their lines of business, partnering with players inside and outside of their traditional frontiers, and creating new operational models, are some of the options before them. Utility companies are embracing the ecosystem model to create business value through horizontal linkages across traditional industry verticals. They are leveraging platform ecosystems to connect to the various partners and to reach customers as one large entity providing a bouquet of services. For example, utility providers are partnering with builders and building associations to become the single point of contact for customers, offering move-in services. Incumbent players are realizing business value in one of three ways, by:
- Leveraging service adjacencies through partnerships
- Building a shared data platform with partners
- Reducing intermediaries
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