Global Energy Cloud Market Overview:
Energy cloud is a system which is derived from cloud computing services that replace the traditional grid architecture to give a range of commercial, environmental, and technical changes. It is a dynamic network that supports distributed energy resources (DER) with two-way energy flow. 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 energy cloud market.
As per latest study released by AMA Research, the Global Energy Cloud market is expected to see growth rate of 23.7%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Need for Organizations to avail the Advantages of Customer Relationship Management (CRM)
Market Growth Drivers:
Need To Access Real-Time Data by Utilizing Energy Sources, Increasing End-User Involvement in Generation, Distribution, Buying and Selling Of Electricity and Growing Grid Security Concerns and Growing Aging Infrastructure
Challenges:
Rising Incidence of Cyberattacks is Posing a Challenge for the Energy Cloud Market
Restraints:
Stringent Government Regulation and Compliance
Opportunities:
Introduction of Big Data Analytics and Internet of Things (IoT) in Cloud Computing Market
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Accenture PLC (United States), IBM Corporation (United States), HCL Technologies (India), SAP SE (Germany), Cisco Systems, Inc. (United States), Oracle Corporation (United States), Capgemini (France), Microsoft Corporation (United States) and Brillio (United States). Additionally, following companies can also be profiled that are part of our coverage like Energyworx (Netherlands), TCS (India) and HPE (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Energy Cloud market by 2030. Considering Market by Services, the sub-segment i.e. Professional Services will boost the Energy Cloud market. Considering Market by Service Model, the sub-segment i.e. Software as a Service will boost the Energy Cloud market. Considering Market by Organisation Size, the sub-segment i.e. Small Enterprises will boost the Energy Cloud market.
Latest Market Insights:
In October 2023, Schneider Electric acquires RIB Software, a German provider of 5D BIM (Building Information Modeling) solutions for the construction and energy sectors. This expands Schneider Electric's digital twin offerings for energy management.
In May 2023, Siemens Energy acquired a minority stake in ETEX Group, a leading provider of energy trading platforms. This move aims to strengthen Siemens Energy's digital solutions in the energy trading market.
What Can be Explored with the Energy Cloud Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Energy Cloud Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Energy Cloud
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Energy Cloud market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Energy Cloud market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Energy and utility industries, Energy cloud vendors, System integrators, Consultancy firms/advisory firms, Professional service providers, Government agencies and Investor and venture capitalists.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.