Energy sector is getting fueled on Digital Tech!
Global growth in energy consumption is expected to increase by more than 40 percent over the next coming years. In some regions of the world, the increase in demand will exceed 100 percent over the same time period. Regardless of the rate at which there is a growth in energy sector in particular market, complexity is surely going to increase.
Utility companies face many operational challenges like infrastructure and grid security concerns, disruptive technologies and new regulations.
The energy industry is fostered to adopt the cloud technology in order to reduce costs, improve efficiency, and help address growing oil and power needs, such as increasing amounts of data, real time access to data, or integration and standardization of IT operations. So cloud computing offers a great combination of virtualization, standardization, automation and efficiency to help reduce the costs.
Many energy companies are adopting information technology, cloud model to transform their businesses to ensure higher customer satisfaction in less cost.