With the adoption of General Data Protection Regulation (GDPR), utilities are facing the challenge of maintaining data protection and privacy for their customers. Frost & Sullivan details the impact of GDPR on smart meters and smart pumps in a recent Frost Perspectives blog post. Take a look at the excerpt below or click the link to see the full blog post at the bottom of the article.
European Union (EU) water and energy utilities generate, collect, as well as process raw operational data and customer data through smart devices such as smart meters and smart pumps into meaningful optimization strategies. New technologies such as Industrial Internet of Things (IIoT) technologies coupled with dynamic market conditions are aiding the growth of utilities. Companies are focusing on a data-driven strategy that is resilient to market uncertainties. However, with the adoption of General Data Protection Regulation (GDPR), water and energy utilities are faced with the greater challenge of maintaining data protection and privacy for their customers. Europe is expected to increase installation for water smart meters by 25%-30% in the next 7-8 years from the current installed base of 10 million units. In addition, by 2020 EU plans to replace 80% of electricity meters with smart meters. Electricity and gas sectors are expected to witness the installation of additional 200 million and 45 million smart meters, respectively, by 2020. Unless cognizant of the requirement, functions, and caveats of GDPR, utilities will face hurdles in implementing their strategies concerning connected devices.
Read the full post here: http://frost.ly/2g5
