Cloud Computing in Power - Thematic Intelligence
Summary
Cloud computing refers to computing delivered as an online service. It encompasses the provision of IT infrastructure, operating systems, middleware, and applications hosted within a data center and accessed by the end-user via the internet. The cloud is now the dominant model for delivering and maintaining enterprise IT resources. In the power sector, there is widespread use of infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS) model, and managed cloud services. However with volatile geopolitical events, a prevailing energy crisis, an aging workforce, and pressure to speed up the energy transition and meet the demand for a decentralized power grid, continued digitalization is the only option for the power sector. Power companies already benefiting from the inherent advantages of the cloud (its flexibility, scalability, and cost-effectiveness) must also embrace more innovative uses of the cloud and its capacity to enable other emerging technologies. According to GlobalData forecasts, the global cloud computing industry, worth $473 billion in 2020, will be worth $1.2 trillion by 2026.
Key Highlights
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