A Study on the Plant Design Software on the Digital Transformation and MSME Entrepreneurs Emotions Towards Business Sustainability and Autonomy in the Energy Service Industry

Marirajan Murugan () and M. N. Prabadevi ()
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Marirajan Murugan: SRM IST, College of Management
M. N. Prabadevi: SRM IST, College of Management

A chapter in Proceedings of the International Conference on Emerging Trends in Business & Management (ICETBM 2023), 2023, pp 284-303 from Springer

Abstract: Abstract The energy industry mainly covers Oil & Gas, Renewable energy, and Power, and the energy industry plays a vital role in society globally. Among this industry, as per McKinsey’s Global Energy Perspective 2022 [12] and global energy statistics and facts, more than 50% of primary energy consumption is through Oil & gas, and our society consumes Oil & gas energy for our daily basic needs. Oil & Gas industry requires plant design software to catalyze its optimization and growth. Plant design software builds the plant in 2D and 3D complete design (Design, Construct and Operate) from the process, Health Safety and Environment (HSE), piping, pipeline, Mechanical, Electrical, Instrument, and Civil & Structural. Plant design software utilizes innovative technologies, including Artificial intelligence (AI), Machine learning, the Internet of Things (IoT), Virtual reality (VR), and augmented reality (AR). To maintain business sustainability and autonomy, MSME Entrepreneur implements new technologies through digital transformation to have digital reality and optimization with high accuracy and precision. MSME Entrepreneur’s emotions play a crucial role in this plant design software implementation in the energy industry. This research reveals the plant design software utilized in the energy industry and MSME Entrepreneur’s emotions to maintain business sustainability and autonomy. Furthermore, suggest that the government could alter the current policies to support the PAN India program in developing plant design software to promote MSME Entrepreneurs in small and medium service business.

Keywords: Plant Design Software; MSME Entrepreneur; Emotions; Sustainability; Autonomy; Energy industry (search for similar items in EconPapers)
Date: 2023
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DOI: 10.2991/978-94-6463-162-3_26

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