Energy Cloud Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Energy Cloud Market: Snapshot
The global market for energy cloud is anticipated to be driven by the fundamental changes made to the industrial and commercial longitudes across the globe. Energy cloud is a system derived from cloud computing that replaces the traditional grid architecture to give a range of commercial, environmental, and technical changes. The needs of the companies to maintain a pool of energy resources in order to distribute it via the grids with a greater level of efficiency has driven demand within the global market. Smart grids have become an important part of the energy infrastructure of regions, especially across North America. Hence, the market for energy cloud is expected to reap in commendable benefits over the coming years.
Cyber-attacks have become rampant across the globe which has raised concerns with regards to the security of grids, and hence, the global demand for energy cloud has reached unprecedented levels in recent times. Furthermore, the grid infrastructure across a lot of regions has become old and obsolete which also propels demand within the market for energy cloud. Managed energy services are projected to attract commendable demand over the coming years whereas enterprise asset management is expected to become popular across emerging economies.
The technological revolution that has offset across Canada and the US has given a boost the demand for energy cloud across North America. It is evident that emerging economies have followed the footsteps of developed nations, and hence, the market in Asia Pacific and the Middle East and Africa is also expected to capture a decent market share over the years to come.
Global Energy Cloud Market: Overview
Energy cloud is an emerging concept acquired from cloud computing that challenges conventional hub-and-spoke grid architecture with a wide spectrum of regulatory, environmental, commercial, and technical changes. The constant broadening of smart grid infrastructure and stable rise in distributed energy resources (DER) capacity are expected to be the two critical trends propelling the shift to the transparent, responsive, and dynamic energy cloud landscape. Energy cloud evolution is considered as an unparalleled opportunity for vendors and customers alike to improve or replace their status quo.
Global Energy Cloud Market: Key Trends
The world energy cloud market is anticipated to fuel its growth due to the increasing requirement of organizations to avail the advantages of customer relationship management (CRM). Other key factors such as concerns regarding grid security and growing aging infrastructure are expected to lay a solid foundation for the world market. Utilities, energy, and other similar enterprises could be challenged by exacting compliances and regulations and elevating levels of cyberattacks. Howbeit, there could be some lucrative business opportunities in solution and service markets waiting for players to capitalize on.
Managed services are predicted to register a significant growth in the global energy cloud market during the course of the forecast period. This service segment finds an expansive and vital application in utility and energy enterprises for the management of smart and nuclear grids and downstream and upstream oil and gas. Managed services can also be engaged for addressing client needs and pre and post-deployment queries of customers.
According to the segmentation by solution, enterprise asset management is prognosticated to rake in a larger share in the international energy cloud market. Benefits such as governing assets, improving the return on them, and accessing real-time visibility into their usage could set the tone for this segment.
Global Energy Cloud Market: Market Potential
Genesis Energy, one of the largest power generators and gas and power retailers in New Zealand, has teamed up with Spark to migrate its IT infrastructure to a cloud-based platform. The technology and digital executive general manager of Genesis Energy expressed that the shift to Spark’s Revera cloud platform was a great move for the company in the fast-changing energy sector. Genesis Energy will now be able to offer innovative energy solutions to customers and enhance its efficiencies. The highly competitive five-year partnership will present a robust IT managed services package tailored to the business needs of the energy company.
Global Energy Cloud Market: Regional Outlook
As a result of a telling adoption of technologies in the forefront and voluminous presence of a number of enterprises, countries such as Canada and the U.S. are prophesied to be the major markets for energy cloud. In this regard, North America is envisaged to secure a tremendous share in the worldwide energy cloud market. Quickly catching up the pace at which larger markets are growing, Asia Pacific is foretold to display a higher CAGR during the forecast years. The analysts could also be interested in studying other convincing regions such as Europe and Rest of the World.
Global Energy Cloud Market: Competitive Landscape
Leading companies in the global energy cloud market could be dependent on constant technological innovations with a view to further customer satisfaction and sustain their position in the industry. The global market is envisioned to be served by these players as they count their growth on various strategies such as partnerships, acquisitions, and new product development. Some of the crucial players in the market are Oracle Corporation, Cisco Systems, Inc., SAP SE, HCL Technologies, IBM Corporation, and Accenture PLC.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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