The global energy asset management market is gaining ground due to the increasing consumption of energy backed by emerging commercial and residential infrastructures worldwide. In this rapidly accelerating market, organizations are incorporating cutting-edge technologies and a host of strategies to control, monitor, and optimize energy generation, distribution, and consumption to make it more sustainable and cost-effective.
In light of these forward-looking industry initiatives, the global utility asset management market is forecasted to be worth $6.20 billion in 2027, as per the latest market analysis reports. The reports identify the market to witness a growth spike at a CAGR of 8.5 percent during the forecast period. The implementation of stringent standards set by private grid operators in preventing power outage issues stemming from natural calamities and erratic human decisions is propelling the energy asset management market. The burgeoning market growth is also partly due to the rapid surge in the deployment of various novel power generation techniques fulfilling the growing demand for energy.
On that note, this edition of Energy Tech Review brings forth the most influential developments in the energy asset management space that are augmenting energy utility practices to streamline energy operations in the electricity, natural gas, and renewable energy markets. The edition features thought leadership articles from Sheila Mendez, Director Utility Applications & IT PPMO at PNM Resources, who sheds light on the significance of grid modernization to be resilient and improve security in future energy systems. It also brings into the spotlight the invaluable insights from Ben Felton, Senior VP of Energy Supply and Enterprise NERC Compliance at DTE Energy, who talks about integrating energy storage applications for clean, affordable and reliable energy in future.
Along with these critical insights from industry experts, the edition features Enviva, the world’s largest producer of sustainable wood pellets, which offers an innovative track and trace program to verify the accuracy of forest-based energy sourcing activities and publish the data for public consumption to ensure supply chain traceability. We hope this edition shows you the path to finding the right energy asset management solution provider that will assist you with the industry-best approaches to integrate novel energy management practices to conserve energy, reduce maintenance costs, and mitigate emissions toward creating a sustainable future.
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