Energy Cloud Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Energy Cloud Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : November, 2021 | Technology & Media

Report Digest


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.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?