The global energy industry is undergoing a transformation driven by decarbonisation and decentralisation, leading to increased digitalisation and the utilisation of extended reality (XR) technologies.

Over the past three years, the foundations of the virtual reality (VR) and augmented reality (AR)/mixed reality (MR) landscapes have become stronger, with major companies investing billions of dollars to stimulate the growth of these technologies.

Extended reality plays a crucial role in the energy sector’s digital transformation, offering users immersive experiences within intricately designed 3D virtual environments. This integration of immersive technology is changing how industry professionals interact with complex data and processes, ultimately leading to innovative solutions and improved efficiency in energy management and operations.

The global generator service industry is projected to grow at a rate of 2.8% from 2023 to 2034, driven by rising power demand and increasing customer awareness of digital solutions. Real-time visibility into equipment operations and AI-powered analytics provide critical analysis that enhance efficiency, support predictive maintenance, and ensure continuous usage. By leveraging advanced analytics, manufacturers can optimize equipment control, utilization, logistics, and procurement. Among all end-user sectors, predictive applications remain the most essential in the generator industry.

High energy bills coupled with strong financial incentives are making heat pumps increasingly cost-competitive with traditional fossil fuel heating systems for residential use.

Despite advantages such as higher efficiency and the acceleration of heat decarbonization, the industry faces several challenges. A higher proportion of aging households, inadequate insulation, higher installation and capital costs, and a shortage of skilled installers and consultants are limiting growth potential.

However, the expansion of hybrid heating technologies and manufacturers scaling up production are set to increase competition and further drive cost competitiveness between heat pumps and conventional boilers.