Cloud computing for power and utilities 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.
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Cloud facilitates the centralisation of data from increasingly decentralised assets thus enabling advanced analytics and machine learning, which in turn enhance utilities’ abilities to address looming industry challenges.
Leading cloud computing computing 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 for power and utilities companies in the energy sector
Using its experience in the sector, Power Technology 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 purchase or hiring decisions.
Amongst the leading cloud computing suppliers are Oracle, SAP, ABB, Itron, Uplight, Siemens, GE Digital, and AVEVA.
Future of cloud computing for power and utilities 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 over 50% of the total cloud service market for the energy industry despite growing at the slowest CAGR of 9.4%.
For full details (including contact details) on the leading companies within this space, download the free Buyer’s Guide below:
Frequently asked questions
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How is cloud computing transforming the power sector?
Cloud computing is revolutionising the power sector by facilitating the centralisation of data from decentralised assets. It enables utilities to optimise operations through advanced analytics and machine learning, improving asset management, predictive maintenance, and integrating new technologies like smart grids and renewable energy sources.
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What benefits does cloud computing bring to utilities?
Cloud computing enhances operational efficiency, reduces costs, and improves scalability. It supports real-time data analytics, enabling utilities to predict failures, optimise energy distribution, and adapt to fluctuating demand while reducing downtime and maintenance costs.
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How is cloud computing supporting the adoption of renewable energy?
Cloud platforms help integrate distributed energy resources (DERs), such as solar and wind, into the grid. By managing and analysing large data sets from these sources, cloud technology ensures stable energy distribution and helps power companies meet sustainability goals.
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What role does predictive maintenance play in cloud solutions for power companies?
Predictive maintenance, powered by cloud computing, allows utilities to monitor equipment in real-time and anticipate failures before they occur. This reduces unplanned outages and lowers repair costs, improving the reliability and lifespan of power infrastructure.
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Who are the leading cloud computing suppliers for the power industry?
Key providers of cloud solutions for the power sector include companies like Oracle, SAP, GE Digital, and Siemens. These firms offer advanced cloud-based platforms tailored to the specific needs of utilities, including data analytics, energy management, and infrastructure optimisation.