# SKILLS GAP COULD ACT AS A BRAKE ON IOT INNOVATION IN THE ENERGY SECTOR, FINDS INMARSAT Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-08-04 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: New Research: Energy Companies Lack IoT Skills for Success Meta Description: New research reveals that over a third of energy firms lack the essential skills for deploying IoT tech effectively. Find out more from Inmarsat. URL: https://financedigest.com/skills-gap-could-act-as-a-brake-on-iot-innovation-in-the-energy-sector-finds-inmarsathtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/people-in-meeting-roombkp5-1736843619550-compressed.jpg) _New research finds that over a third of energy companies lack the skills they need at both a management and a delivery level to successfully deploy IoT technology_ If energy companies are to successfully deploy Internet of Things (IoT) technology to drive innovation, efficiency, and increased productivity, they must upskill current employees and/or embark on recruitment drives. This is according to independent research commissioned by [Inmarsat](https://www.inmarsat.com/) (LSE:ISAT.L), which found that while the vast majority of energy companies have their sights set on IoT, a significant proportion lack the skills needed to take advantage of the technology. Market research specialist Vanson Bourne interviewed respondents from 100 large [energy companies](https://www.financedigest.com/luc-remont-proposed-as-new-boss-of-french-energy-company-edf.html "Luc Remont proposed as new boss of French energy company EDF") across the globe and found that while 88 per cent expect to deploy IoT technologies within the next two years, many currently lack the skills needed to do so effectively. Over a third (35 per cent) of respondents said that they lack the management skills to make the most of IoT, while 43 per cent lack the skills to do so at a delivery level. 53 per cent of respondents said that they would benefit from additional skills at a strategic level to take full advantage of IoT. Digging deeper into the specific IoT skillsets that energy companies are lacking, the research found that 54 per cent have a shortage in cyber security personnel and 49 per cent lack skills in technical support, while analytical and [data science](https://www.financedigest.com/crowdsourcing-of-data-to-drive-the-life-science-market.html "Crowdsourcing of data to drive the Life Science Market") skills are also in high demand. Chuck Moseley, Sr. Director for Energy, Inmarsat Enterprise, commented on the significance of the findings: “Whether they work with fossil fuels or renewables, IoT offers energy companies the potential to streamline their processes and reduce costs in previously unimagined ways. Smart sensors, for example, can facilitate the collection of information at every stage of production, enabling them to acquire a higher level of [intelligence on how their operations are functioning and to therefore work smarter](https://www.financedigest.com/artificial-intelligence-smarter-than-the-fraudsters.html "Artificial intelligence: smarter than the fraudsters?"), more productively and more competitively. But fully realising these benefits depends on energy companies’ access to appropriately-skilled members of staff and it is clear from our research that there are considerable skills gaps in the [sector at all stages of IoT](https://www.financedigest.com/iot-for-the-financial-sector.html "IoT for the Financial Sector") deployment. “IoT is set to have a similarly [transformative effect on a whole swathe of industries](https://www.financedigest.com/signal-transformer-market-one-the-most-booming-industry-in-upcoming-years-due-to-global-demand-in-industry-by-2027.html "Signal Transformer Market| One the Most Booming Industry in Upcoming Years Due to Global Demand in Industry by 2027"), so it’s likely that the pressure on skills will only increase. Energy companies who currently lack these capabilities in-house will find themselves in a heated recruitment [battle for this talent](https://www.financedigest.com/how-financial-services-organisations-can-win-the-battle-for-talent.html "How Financial Services Organisations can win the Battle for Talent"), with Silicon Valley in particular offering an attractive alternative.” Moseley concluded by pointing to the role that partners can play in helping energy companies to address their IoT skills deficiencies: “There are undoubtedly steps that energy companies can and should take to upskill their staff and attract fresh talent with the appropriate skills, but the [growing demand in the market](https://www.financedigest.com/wi-fi-semiconductor-chipset-market-gain-impetus-due-to-the-growing-demand-over-2015-2025.html "Wi-Fi Semiconductor Chipset Market Gain Impetus due to the Growing Demand over 2015-2025") for these skills means that bottlenecks will be hard to avoid altogether. This will make partners, who have greater economies of scale and more concentrated expertise on their side, critical for those looking to exploit IoT technologies, and it is here that [energy companies should focus their efforts to supply](https://www.financedigest.com/european-shares-rise-on-easing-energy-supply-worries-draghi-speech-in-focus.html "European shares rise on easing energy supply worries; Draghi speech in focus") the skills that they lack.” You can view the research microsite and download the full report here: [http://research.inmarsat.com/](http://research.inmarsat.com/) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---