Energy - Enterprise ICT

Energy - Enterprise ICT

Summary

The Energy Enterprise ICT Country Intelligence Report, a new Vertical Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2023 and GlobalData’s Market Opportunity Forecasts to 2027: Energy. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the vertical in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027. The report provides detailed analysis of the overall energy's enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts. The report also discusses about the market growth inhibitors impacting energy's overall ICT market. Its sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, and regional analysis. The report also includes a brief profile on some of the key ICT vendors within the energy vertical.

The vertical intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity for enterprises in energy vertical

• Overall enterprise ICT revenue opportunity and ICT budget allocations for enterprises in energy vertical
• Insights on Energy's enterprise ICT growth drivers and market trends, basis GlobalData's ICT Customer Insight Survey and Market Oppotunity Forecasts to 2027
• Insights on market growth inhibitors impacting energy's overall ICT market
• Breakdown of enterprise ICT revenue opportunity by solution areas and key regions
• Segmental analysis of energy's enterprise ICT budget allocations and ICT revenue opportunity - hardware, software and services
• Insights on ICT technology spending priorities of enterprises on key solution areas in energy
• Company snapshot

Scope

• ICT market growth in the energy vertical will be driven by rising ICT budgets of leading energy companies, investments in 5G networks, and growing number of partnerships between energy companies and tech startups.
• Energy's overall ICT market was pegged at $158.6 billion in 2022 and is expected to grow at a CAGR of 14.3% during 2022-2027 to reach $309.2 billion in 2027, due to increase in digital transformation investments by enterprises, especially in cloud, IoT, AI, edge computing and networking, will offer plenty of opportunities for ICT vendors and service providers.
• GlobalData’s ICT decision makers survey reveals a positive outlook for enterprise ICT spending in energy, with a majority of respondents, about 55.6% from the country, claiming that there has been an increase in the enterprise ICT budget in 2023 compared to 2022.
• Internet of Things can be regarded as the most attractive market in energy. IoT technology enables real-time asset/resource visibility, improves operational efficiency, enables companies to derive data-driven insights for quick decision making and enable remote monitoring of assets/resources. The revenue opportunity for IoT in energy was pegged at $27.8 billion in 2022 and is estimated to grow at a CAGR of 18.4% between 2022-2027.
• Asia-Pacific region to be the largest contributor towards ICT revenue opportunity in energy vertical through 2027. ICT revenue from the Asia Pacific Energy sector was valued at $62.3 billion in 2022 and is set to grow up to $137.4 billion in 2027 at a CAGR of 17.1%.

Reasons to Buy

• This Vertical Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises operating in Energy vertical and GlobalData’s Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of energy’s enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2027, the report examines the assumptions and drivers behind ongoing and upcoming trends in energy's enterprise ICT market.
• The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.
• The report also presents an analysis of enterprise ICT revenue opportunity by various solution areas and key regions over the forecast period 2022-2027.
• With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the IT decision makers in energy vertical, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.