Exelon Corporation – Digital Transformation Strategies
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Exelon Digital Transformation Strategies Overview
Exelon is leveraging AI and data analytics technologies as a part of its digital transformation strategies. The annual ICT spending of Exelon was estimated at $606 million in 2023. A major share of this spending is earmarked for acquiring software, network and communications, and hardware from vendors. Exelon Corporation (Exelon) is a utility service holding firm. It has operations across the complete energy value chain, including energy sales, power generation, and distribution and transmission. The company produces electricity using nuclear, natural gas, oil, wind, hydro, solar, and biomass sources and purchases electricity through long-term power purchase contracts. Exelon also provides energy products and services to the residential, public sector, and business customers in the US and Canada.
The ‘Exelon Digital Transformation Strategies’ report will act as a reference point to understand the company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, investments, and ICT spending among others.
Total ICT Spending 2023 | $606 million |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems Integrators |
External ICT Spend by Segment | ICT Services, Software (Including Cloud SaaS), Hardware (Including Cloud IaaS), Network and Communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Cloud, Blockchain, and IoT |
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Digital Transformation Strategies
Exelon is embracing AI and data analytics at the center of its approach to analyze data from internal and external data sources and generate real-time insights to predict failures, improve equipment performance, optimize schedule maintenance, minimize operating costs for utilities, and respond to storm-related outages. For instance, the company introduced an in-house Analytics Academy to teach emerging analytics skills to its employees. It also collaborated with GE for network analysis to get real-time insights about maintenance time and sudden outages and to improve storm readiness. It analyses data assets and develops analytical products to enhance operational efficiencies and deliver a better customer experience.
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Exelon Technology Theme Focus
Exelon is utilizing several emerging technologies including artificial intelligence, big data, cloud, blockchain, and IoT to enhance operational efficiency and product offerings.
Exelon Technology Focus
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Exelon Technology Initiatives
Exelon has been involved in several strategic technology partnerships and collaborations, technology developments, and roll outs over the past few years. For instance, Exelon Corporation entered a seven-year agreement with Hansen Technologies, a leading global provider of software and services to the energy, water, and communications industries, to support its digital transformation. Under this partnership, Hansen will provide Exelon with its Hansen Market-Message, a software-as-a-service market messaging and transaction processing solution; support Exelon’s four utility companies: Commonwealth Edison, PECO, Potomac Electric Power Company (PEPCO), and Baltimore Gas and Electric (BGE); and deliver a cloud-based EDI transaction processing solution supporting Exelon’s 10+ million end-customers.
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Exelon ICT Spend by Function
- Communications
- Data Center
- Network
- Application
- End-user Computing
- Service Desk
- Management
Exelon ICT Spend by Function, 2023 (%)
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Exelon ICT Spend by Channel
- Internal Development and Maintenance
- Technology Vendors (Direct)
- Local Resellers
- Telcos
- ICT Services Providers/Consulting Firms
- Specialist Outsourcers
- Systems Integrators
Exelon ICT Spend by Channel, 2023 (%)
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Exelon External ICT Spend by Segment
- ICT Services
- Software (Including Cloud SaaS)
- Hardware (Including Cloud IaaS)
- Network and Communications
- Consulting
- Others
Exelon External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into Exelon’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into Exelon’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, and investments.
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Table of Contents
Frequently asked questions
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What is the total ICT spending of Exelon in 2023?
The annual ICT spending of Exelon is estimated at $606 million in 2023.
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Which function accounted for the highest ICT spending for Exelon in 2023?
Network accounted for the highest ICT spending by function for Exelon in 2023.
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Which channel accounted for the highest ICT spending for Exelon in 2023?
Internal development and maintenance accounted for the highest ICT spending by channel for Exelon in 2023.
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Which segment accounted for the highest external ICT spending for Exelon in 2023?
Software accounted for the highest external ICT spending by segment for Exelon in 2023.
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What are the key technology themes in focus for Exelon?
Artificial intelligence, big data, blockchain, cloud, and IoT are the key technological themes in focus for Exelon.
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