ANALYTICS
Investment continues to spiral in data analytics platforms as digital technologies become key to fuelling the sustainability revolution
WRITTEN BY : DOMINIC ELLIS
There are many debates swirling around the energy transition but at least digital technologies ’ role in it is unquestionable . Oil and utility companies ’ desire for accurate data and governmental pressure to implement sustainable change are spurring a funding frenzy in new platforms and solutions .
The global cloud analytics market size is projected to reach US $ 72.40 billion by the end of 2026 , according to Fortune Business Insights . It ’ s not just the climate forcing change ; the increasing use of cloud platforms in fraud detection software will
“ Since we first launched Energize five years ago , we have seen the energy and industrial sectors undergo a massive digital transformation . The transition towards a more renewable and sustainable future is outpacing all expectations ”
JOHN TOUGH ENERGIZE VENTURES also have a positive impact on the market ’ s growth in the coming years .
The advancement in IoT and its wide usage across various end-user industries stand as key factors augmenting the growth of the global smart grid data analytics market .
Smart grid data analytics are arrangements used to dissect the huge measure of data produced from the smart grid frameworks . These arrangements are sent to acquire better prescient investigation of shopper conduct and grid conditions , accordingly streamlining grid productivity .
Utilities urgently need new ways to manage new demand and supply-side complexities , respond effectively to external pressures such as extreme weather events , and maintain profitability while delivering resilient , affordable , and sustainable energy for their customers – and the market is responding .
Whether it ’ s Energize Ventures , a leading global alternative investment manager that funds digital-first solutions
accelerating the sustainable energy transition , closing a second fund with total capital commitments of an eyeboggling $ 330 million , or Kevala recently announcing $ 21 million in Series A funding , the figures are increasingly entering the commercial stratosphere .
Building on the success of its first fund , in which Energize
76 November 2021