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“Aging infrastructure, rising grid security concerns, and the need for Customer Relationship Management (CRM) are expected to drive the overall energy cloud market”
The energy cloud market size is expected to grow from USD 5.12 billion in 2016 to USD 15.18 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 24.3%. The factors driving the growth of the market include the rise in aging infrastructure, need for new, real-time data access, and analytical capabilities among the energy & utilities enterprises.
Reporting and analytics segment is expected to grow at highest rate during the forecast period
The reporting and analytics solution segment is expected to grow at the highest CAGR during the forecast period. The demand for cloud-based reporting and analytics is increasing among the energy and utilities sector, due to the increasing need for improved decision-making, optimizing internal business processes, increasing operational efficiencies, and gaining competitive advantage in the market.
Managed services segment is expected to grow at the highest CAGR during the forecast period
The managed services segment in the energy cloud market is estimated to have the highest growth during the forecast period, as it helps the enterprises to focus on core business functions and provide a competitive edge in the market. These services offer enhanced the customer experience by addressing all queries related to the deployment of applications.
Asia-Pacific is projected to witness the highest growth rate, while North America is expected to hold the largest market share during the forecast period
Asia-Pacific (APAC) is expected to grow at the highest rate during the forecast period. A surge in growth is anticipated, owing to technological advancements, along with mandatory regulations imposed by government and regulatory entities. North America is expected to hold the largest market share and dominate the energy cloud market during the forecast period. The presence of a large number of enterprises, strong technical skills, and higher adoption of advanced cloud solutions & services are the major factors for the largest share of North America.
In the process of determining and verifying the market size for several segments & subsegments gathered through the secondary research, extensive primary interviews were conducted with key industry personnel. The breakup of profiles of primary discussion participants are given below:
- By Company Type: Tier-1 (16%), Tier-2 (32%), and Tier-3 (52%) companies
- By Designation: C-level (41 %), Director Level (35 %), and Others (24 %)
- By Region: North America (46 %), Europe (30 %), APAC (15 %), and RoW (9 %)
The list of energy cloud vendors profiled in the report is as follows:
1. Accenture PLC (Chicago, Illinois, U.S)
2. IBM Corporation (New York, U.S.)
3. HCL Technologies (Noida, India)
4. SAP SE ( Walldorf, Germany)
5. Cisco Systems, Inc. (California, U.S.)
6. Oracle Corporation (California, U.S.)
7. Capgemini (Paris, France)
8. TCS (Mumbai, India)
9. HPE (California, U.S.)
10. Microsoft Corporation (Washington, U.S.)
11. Brillio (California, U.S.)
The global energy cloud market has been segmented on the basis of solutions, services, service models, organization sizes, deployment models, and regions. The various types of analysis covered in the study include energy cloud ecosystem, value chain analysis, competitive landscaping, and market dynamics.
Reasons To Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the energy cloud market comprehensively and provides the closest approximations of the revenue numbers for the overall market & the subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, & opportunities.
- This report helps stakeholders better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.