Top 20 Energy Tech Solution Companies - 2020
Like every other industry, the energy sector too has witnessed the latest technological trends being implemented into its functioning, making the sector more productive and accountable for energy consumption and energy loss. Although every energy firm and service provider must have an undivided focus on boosting the operational efficiency and gaining huge returns, this still does not translate to diminishing the major business opportunities that may occur in the energy market. An insight into one of PwC’s reports centered on energy says, enterprises must double down on digitization to drive efficiencies and open up new opportunities in the energy sector.
One of the windows of possibilities is opened by the industrial internet of things (IIoT) Companies understand that the use of IoT devices transform multiple business operations as IoT not only connects machines and appliances, but also allows for enhanced connectivity across drilling rigs, refineries, pipelines, and grids. Such a connection optimizes performance and minimizes downtime while improving the health, safety, and environmental performance management. Energy companies can adopt the multifold benefits delivered by IIoT to ensure that they are on par with the fluctuating energy market.
Energy storage is yet another disruptor that is seeing a widespread acceptance and adoption among enterprises working in the energy industry. Coupled with Distributed Energy Resources (DERs), energy storage is all set to offer a consistent flow of energy at prices that are lower than the cost that is being currently paid by the users. Furthermore, energy storage is also immune to pulls and pushes of power demands as time and the market shift. Low-cost energy options, such as devices powered by solar energy or renewable materials are undoubtedly being favored upon choices that have been used until now—coal and natural gas-based energy products. Multiple energy solutions and service providers are now turning their attention toward such techniques.
Speaking of energy options, renewable energy is steadily gaining traction and has become widely popular among various nations in the world over the last couple of years. To prevent and revert the catastrophic results of climate change, countries across the globe are heavily pressing on the use of renewable energy. IT giants have recently made a list of companies that are setting up their own solar and wind farms to promote green, cost-saving, and greater control over energy requirements.
One of the major shifts in the energy sector is brought by digitization that has transformed the operations across the value chain. Digitization has brought forth the use of decentralized networks of intelligent, agile and self-serve units to redefine the energy generation and revamp the balance and diagnose demand. Additionally, intelligent automation by using the internet of things (IoT) along with artificial intelligence (AI) and robotic process automation (RPA) are increasing the efficacy for responsiveness to the user demands and costs. Energy service providers have not left any stone unturned in ensuring that their offerings are aligned with the digital revolution that has swept the energy sector.
This edition of CIOReview has compiled a list of 20 Most Promising Energy Tech Solution and Service Providers of 2020 that are delivering unmatched services and solutions to the enterprises.