Analysis of the Prospects for the IoT Technology in the Electric Power Industry


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Abstract

Technological development is increasingly influencing all spheres of life, including production processes, offering better solutions than existing ones, but the path to widespread use can sometimes be very long. This article focuses on IoT technology and its applicability in the electric power industry. The authors considered the advantages and disadvantages of this initiative, and a description of the industry in question is also given. Special attention is paid to predictive (preventive) maintenance. Additionally, recommendations were given on the implementation of the technology in the production of the electric power industry and their economic assessment was carried out. It was found that within the framework of the proposed model, the Internet of Things can begin to make a profit, starting on average from the 5th year after implementation, which is in line with the existing estimates of similar initiatives, and the funds spent will help form an IoT ecosystem that is able to offer comprehensive solutions to the industry, including preventive maintenance and repairs "as required". However, the security of such systems remains a serious problem, which requires additional control from the company both over the software used and the sensors themselves.

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About the authors

Yulia A. Nazarova

Peoples Friendship University of Russia

Email: j.a.nazarova@mail.ru
Cand. Sci. (Econ.), Associate Professor; associate professor at the Department of Innovation Management in Industries of the Academy of Engineering Moscow, Russian Federation

Andrey S. Korzin

Peoples Friendship University of Russia

Email: andrewkorzin@yandex.ru
laboratory assistant at the Department of Foreign Languages of the Academy of Engineering Moscow, Russian Federation

Alexander S. Demidov

Lomonosov Moscow State Universitу

Email: demidov.alexandre@gmail.com
Dr. Sci. (Phys.-Math.), Professor; professor at the Department of General Problems of Control of the Faculty of Mechanics and Mathematics Moscow, Russian Federation

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