Energy Cloud Market Size, Share, Industry Trends and Forecast to 2030

Energy Cloud Market Size & CAGR in 2021

The global energy cloud market is projected to witness a substantial growth rate of 10.26% CAGR from 2021 to 2028. As a result, the market is expected to reach a value of USD 79.81 billion by 2028.

COVID-19 Impact on the Energy Cloud Market

The COVID-19 pandemic has significantly impacted the energy cloud market, leading to disruptions in supply chains, delays in project implementations, and reduced investments in renewable energy solutions. The focus has shifted towards ensuring the operational resilience of energy systems and integrating digital technologies for remote monitoring and maintenance.

Energy Cloud Dynamics

The energy cloud market is driven by factors such as the growing demand for clean and sustainable energy solutions, increasing investments in smart grid technologies, and the shift towards decentralized energy systems. Technological advancements in digitalization, data analytics, and IoT are also contributing to the market growth.

Segments and Related Analysis

By Deployment Type:

- Public Cloud - Private Cloud - Hybrid Cloud

By Solution:

- Asset Management - Customer Engagement - Grid Management - Renewables Management - Energy Analytics - Others

By Service:

- Professional Services - Managed Services

By Region Analysis

North America

- The North American energy cloud market is expected to witness significant growth due to the presence of key market players, technological advancements, and government initiatives towards renewable energy adoption.

Europe

- The European energy cloud market is driven by the increasing focus on energy efficiency, regulatory mandates for carbon emissions reduction, and investments in smart grid infrastructure.

Asia Pacific

- The Asia Pacific region is poised for growth in the energy cloud market, supported by rapid urbanization, industrialization, and government initiatives to promote clean energy solutions.

Key Market Players and Competitive Landscape

Key players in the energy cloud market include Siemens AG, General Electric Company, IBM Corporation, Cisco Systems Inc., Schneider Electric SE, ABB Ltd., Oracle Corporation, Microsoft Corporation, SAP SE, and Huawei Technologies Co. The market is characterized by intense competition, technological innovations, and strategic partnerships for market expansion.

Recent Happenings in the Energy Cloud Market

- Siemens AG announced a collaboration with a leading utility company to deploy an advanced energy cloud platform for the management of renewable energy assets. - General Electric Company launched a new energy analytics solution to optimize energy consumption and reduce operational costs for industrial customers. - IBM Corporation introduced a blockchain-based energy trading platform to enable efficient peer-to-peer energy transactions among consumers and prosumers. - Cisco Systems Inc. acquired a software company specializing in energy management solutions to enhance its offerings in the energy cloud market. - Schneider Electric SE partnered with a technology company to develop integrated solutions for grid management and renewable energy integration.