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Connected Workers: How Digital Transformation is Shaping Industry’s Future

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digital transformation graphic

Connected Workers: Shaping the Future of Industry

Digital transformation has upended businesses on a global scale, and no industry is immune from its powerful effects.

New technologies and enhancing customer experience are key drivers for companies investing in digital transformation, but the most important reason for prioritizing this shift is that it will allow them to leverage entirely new opportunities for growth.

However, with the speed of digital transformation accelerating at a furious pace, companies need to quickly adapt their working environment to keep up. This graphic from mCloud unearths the origins of the connected worker, and explores the potential applications of connected devices across industries.

The Rise of the Connected Worker

The mass adoption of smart devices has sparked a new wave of remote work. This type of working arrangement is estimated to inject $441 billion into the global economy every year, and save 2.5 million metric tonnes of CO2 by 2029—the equivalent of 1,280 flights between New York and London.

However, flexible or remote working looks different depending on the industry. For example, in the context of business services such as engineering or manufacturing, employees who carry out different tasks remotely using digital technologies are known as connected workers.

The term is not a one-size-fits-all, as there are many different types of connected workers with different roles, such as operators, field workers, engineers, and even executives. But regardless of an individual’s title, every connected worker plays a crucial role in achieving digital transformation.

Real Time Data, Real Time Benefits

When workers are connected to assets in real time, they can make better, more informed decisions—ultimately becoming a more efficient workforce overall. As a result, industries could unlock a wealth of benefits, such as:

  • Reducing human error
  • Increasing productivity
  • Reducing dangerous incidents
  • Saving time and money
  • Monitoring assets 24/7

While connected workers can enhance the potential of industries, the tools they use to achieve these benefits are crucial to their success.

Connected Worker Technologies

A connected device has the ability to connect with other devices and systems through the internet. The connected worker device market is set for rapid growth over the next two decades, reaching $4.3 billion by 2039. Industries such as oil and gas, chemical production, and construction lead the way in the adoption of connected worker technologies, which include:

  • Platforms: Hardware or software that uses artificial intelligence and data to allow engineers to create bespoke applications and control manufacturing processes remotely.
  • Interfaces: Technologies such as 3D digital twins enable peer-to-peer information sharing. They also create an immersive reflection of surroundings that would have otherwise been inaccessible by workers, such as wind turbine blades.
  • Smart sensors and IoT devices: Sensors that monitor assets provide a more holistic overview of industrial processes in real time and prevent dangerous incidents.
  • Cloud and edge computing: Using the cloud allows workers to communicate with each other and manage shared data more efficiently.

Over time, connected devices are getting smarter and expanding their capabilities. Moreover, devices such as wearables are becoming more discreet than ever, and can even be embedded into personal protective equipment to gather data while remaining unobtrusive.

Real World Applications

With seemingly endless potential, these devices have the ability to provide game changing solutions to ongoing challenges across dozens of industries.

  • Building Maintenance and Management
    Facility managers can access real time information and connect with maintenance workers on site to resolve issues quickly. Building personnel can also access documentation and remote help through connected technologies.
  • Task Management
    Operators in industrial settings such as mining can control activities in remote locations. They can also enable field personnel to connect with experts in other locations.
  • Communications Platform
    Cloud-based communication platforms can provide healthcare practitioners with a tool to connect with the patient, the patient’s family and emergency care personnel.

By harnessing the power of artificial intelligence, the Internet of Things, and analytics, connected workers can continue to revolutionize businesses and industries across the globe.

Towards a More Connected Future

As companies navigate the challenges of COVID-19, implementing connected worker technologies and creating a data-driven work environment may quickly become an increasingly important priority.

Not only is digital transformation important for leveraging new growth opportunities to scale, it may be crucial for determining the future of certain businesses and industries.

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Energy

How Much Solar Energy is Consumed Per Capita? (1965-2019)

This visualization highlights the growth in solar energy consumption per capita over 54 years. Which countries are leading the way?

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How Much Solar Energy is Consumed Per Capita?

The long history of solar energy use dates as far back as 4,000 B.C.—when ancient civilizations would use solar architecture to design dwellings that would use more of the sun’s warmth in the winter, while reducing excess heat in the summer.

But despite its long history, we’ve only recently started to rely on solar energy as a renewable power source. This Our World in Data visualization pulls data from BP’s Statistical Review of World Energy to highlight how solar energy consumption per capita has grown in countries around the world over 54 years.

Solar Success: The Top Consumers Per Capita

Solar energy consumption is measured in kilowatt hours (kWh)—and as of the latest estimates, Australia leads the world in terms of highest solar energy consumption per capita at 1,764 kWh in 2019. A combination of factors help achieve this:

  • Optimal weather conditions
  • High gross domestic product (GDP) per capita
  • Tariffs incentivizing the shift to solar

In fact, government subsidies such as financial assistance with installation and feed-in tariffs help bring down the costs of residential solar systems to a mere AUD$1 (US$0.70) per watt.

RankCountrySolar consumption per capita
(kWh, 2019)
Solar’s share of total
(per capita consumption)
#1🇦🇺 Australia1,7642.50%
#2🇯🇵 Japan1,4693.59%
#3🇩🇪 Germany1,4093.22%
#4🇦🇪 UAE1,0560.77%
#5🇮🇹 Italy9953.40%
#6🇬🇷 Greece9363.08%
#7🇧🇪 Belgium8471.30%
#8🇨🇱 Chile8233.39%
#9🇺🇸 U.S.8151.02%
#10🇪🇸 Spain7972.34%

Source: Our World in Data, BP Statistical Review of World Energy 2020
Note that some conversions have been made for primary energy consumption values from Gigajoules (GJ) to kWh.

Coming in second place, Japan has the highest share of solar (3.59%) compared to its total primary energy consumption per capita. After the Fukushima nuclear disaster in 2011, the nation made plans to double its renewable energy use by 2030.

Japan has achieved its present high rates of solar energy use through creative means, from repurposing abandoned golf courses to building floating “solar islands”.

Solar Laggards: The Bottom Consumers Per Capita

On the flip side, several countries that lag behind on solar use are heavily reliant on fossil fuels. These include several members of OPEC—Iraq, Iran, and Venezuela—and former member state Indonesia.

This reliance may also explain why, despite being located in regions that receive the most annual “sunshine hours” in the world, this significant solar potential is yet unrealized.

RankCountrySolar consumption
per capita (kWh, 2019)
Primary energy consumption
per capita (kWh, 2019)
#1🇮🇸 Iceland0No data available
#2🇱🇻 Latvia0No data available
#3🇮🇩 Indonesia<19,140
#4🇺🇿 Uzbekistan<115,029
#5🇭🇰 Hong Kong<146,365
#6🇻🇪 Venezuela121,696
#7🇴🇲 Oman284,535
#8🇹🇲 Turkmenistan367,672
#9🇮🇶 Iraq415,723
#10🇮🇷 Iran541,364

Source: Our World in Data, BP Statistical Review of World Energy 2020
Note that some conversions have been made for primary energy consumption values from Gigajoules (GJ) to kWh.

Interestingly, Iceland is on this list for a different reason. Although the country still relies on renewable energy, it gets this from different sources than solar—a significant share comes from hydropower as well as geothermal power.

The Future of Solar

One thing the visualization above makes clear is that solar’s impact on the global energy mix has only just begun. As the costs associated with producing solar power continue to fall, we’re on a steady track to transform solar energy into a more significant means of generating power.

All in all, with the world’s projected energy mix from total renewables set to increase over 300% by 2040, solar energy is on a rising trend upwards.

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Energy

Mapped: The World’s Largest State-Owned Oil Companies

State-owned oil companies control roughly three-quarters of global oil supply. See how these companies compare in this infographic.

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Mapped: The World’s Largest State-Owned Oil Companies

View the high-resolution of the infographic by clicking here.

Oil is one of the world’s most important natural resources, playing a critical role in everything from transportation fuels to cosmetics.

For this reason, many governments choose to nationalize their supply of oil. This gives them a greater degree of control over their oil reserves as well as access to additional revenue streams. In practice, nationalization often involves the creation of a national oil company to oversee the country’s energy operations.

What are the world’s largest and most influential state-owned oil companies?

Editor’s Note: This post and infographic are intended to provide a broad summary of the state-owned oil industry. Due to variations in reporting and available information, the companies named do not represent a comprehensive index.

State-Owned Oil Companies by Revenue

National oil companies are a major force in the global energy sector, controlling approximately three-quarters of the Earth’s oil reserves.

As a result, many have found their place on the Fortune Global 500 list, a ranking of the world’s 500 largest companies by revenue.

CountryNameFortune Global 500 Rank2019 Revenues 
🇨🇳 ChinaSinopec Group2$443B
🇨🇳 ChinaChina National Petroleum Corporation (CNPC) 4$379B
🇸🇦 Saudi ArabiaSaudi Aramco6$330B
🇷🇺 RussiaRosneft76$96B
🇧🇷 BrazilPetrobras120$77B
🇮🇳 IndiaIndian Oil Corporation (IOCL) 151$69B
🇲🇾 MalaysiaPetronas186$58B
🇮🇷 IranNational Iranian Oil Company (NIOC) Not listed$19B* 
🇻🇪 Venezuela Petróleos de Venezuela (PDVSA)Not listed$23B (2018)

*Value of Iranian petroleum exports in 2019. Source: Fortune, Statista, OPEC

China is home to the two largest companies from this list, Sinopec Group and China National Petroleum Corporation (CNPC). Both are involved in upstream and downstream oil operations, where upstream refers to exploration and extraction, and downstream refers to refining and distribution.

It’s worth noting that many of these companies are listed on public stock markets—Sinopec, for example, trades on exchanges located in Shanghai, Hong Kong, New York, and London. Going public can be an effective strategy for these companies as it allows them to raise capital for new projects, while also ensuring their governments maintain control. In the case of Sinopec, 68% of shares are held by the Chinese government.

Saudi Aramco was the latest national oil company to follow this strategy, putting up 1.5% of its business in a 2019 initial public offering (IPO). At roughly $8.53 per share, Aramco’s IPO raised $25.6 billion, making it one of the world’s largest IPOs in history.

Geopolitical Tensions

Because state-owned oil companies are directly tied to their governments, they can sometimes get caught in the crosshairs of geopolitical conflicts.

The disputed presidency of Nicolás Maduro, for example, has resulted in the U.S. imposing sanctions against Venezuela’s government, central bank, and national oil company, Petróleos de Venezuela (PDVSA). The pressure of these sanctions is proving to be particularly damaging, with PDVSA’s daily production in decline since 2016.

State-Owned Oil Companies - Venezuela example

In a country for which oil comprises 95% of exports, Venezuela’s economic outlook is becoming increasingly dire. The final straw was drawn in August 2020 when the country’s last remaining oil rig suspended its operations.

Other national oil companies at the receiving end of American sanctions include Russia’s Rosneft and Iran’s National Iranian Oil Company (NIOC). Rosneft was sanctioned by the U.S. in 2020 for facilitating Venezuelan oil exports, while NIOC was targeted for providing financial support to Iran’s Islamic Revolutionary Guard Corps, an entity designated as a foreign terrorist organization.

Climate Pressures

Like the rest of the fossil fuel industry, state-owned oil companies are highly exposed to the effects of climate change. This suggests that as time passes, many governments will need to find a balance between economic growth and environmental protection.

Brazil has already found itself in this dilemma as the country’s president, Jair Bolsonaro, has drawn criticism for his dismissive stance on climate change. In June 2020, a group of European investment firms representing $2 trillion in assets threatened to divest from Brazil if it did not do more to protect the Amazon rainforest.

These types of ultimatums may be an effective solution for driving climate action forward. In December 2020, Brazil’s national oil company, Petrobras, pledged a 25% reduction in carbon emissions by 2030. When asked about commitments further into the future, however, the company’s CEO appeared to be less enthusiastic.

That’s like a fad, to make promises for 2050. It’s like a magical year. On this side of the Atlantic we have a different view of climate change.

— Roberto Castello Branco, CEO, Petrobras

With its 2030 pledge, Petrobras joins a growing collection of state-owned oil companies that have made public climate commitments. Another example is Malaysia’s Petronas, which in November 2020, announced its intention to achieve net-zero carbon emissions by 2050. Petronas is wholly owned by the Malaysian government and is the country’s only entry on the Fortune Global 500.

Challenges Lie Ahead

Between geopolitical conflicts, environmental concerns, and price fluctuations, state-owned oil companies are likely to face a much tougher environment in the decades to come.

For Petronas, achieving its 2050 climate commitments will require significant investment in cleaner forms of energy. The company has been involved in numerous solar energy projects across Asia and has stated its interests in hydrogen fuels.

Elsewhere, China’s national oil companies are dealing with a more near-term threat. In compliance with an executive order issued by the Trump Administration in November 2020, the New York Stock Exchange (NYSE) announced it would delist three of China’s state-run telecom companies. Analysts believe oil companies such as Sinopec could be delisted next, due to their ties with the Chinese military.

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