Cloud computing can help extend the life of existing infrastructure by facilitating predictive maintenance, while supporting the integration of new technologies, such as the smart grid, DERs, and EVs. Cloud facilitates the centralisation of data from increasingly decentralised assets thus enabling advanced analytics and machine learning, which subsequently enhance utilities’ abilities to address looming industry challenges.
Leading cloud computing companies in the power sector
The power industry faces numerous challenges, including ageing infrastructure, changing weather patterns, changing demand profiles, adoption of renewable and distributed energy sources, and electric vehicles (EVs). Together, they signal a new era of rapid modernisation.
Leading adopters of cloud computing include EDF, Duke Energy, National Grid, Vestas, Enel, Orsted, and E.ON.
Discover the leading cloud computing companies in the power sector
Using its experience in the sector, Energy Monitor has listed some of the leading companies providing products and services related to cloud computing.
The information provided in the download document is drafted for cloud computing executives and technology leaders involved in cloud computing solutions.
The download contains detailed information on suppliers and their product offerings, alongside contact details to aid purchasing or hiring decisions.
Amongst the leading cloud computing suppliers are Oracle, SAP, ABB, Itron, Uplight, Siemens, GE Digital, and AVEVA.
Future of cloud computing in the energy sector
The market value for cloud computing in the energy sector was estimated at around $17bn in 2019 and is expected to rise to $28bn by 2024. The CAGR over this period is forecast to be 10.8%. Of the cloud services products, IaaS is expected to grow at the highest CAGR of 13.1%. SaaS, however, will retain the largest market share. In 2024, it is forecast to account for more than 50% of the total cloud service market for the energy industry despite growing at the slowest CAGR of 9.4%.