Market for Digitalization in Energy Sector to Grow to $64bn by 2025
Digital technologies for fossil fuel operation and maintenance are big business today, but activity is shifting towards services for distributed renewables and the connected home
November 8, 2017 /3BL Media/ - Digitalization in the energy sector is shifting towards services for distributed renewables and the connected home and away from technologies for fossil fuel operation and maintenance today as per new research released by Bloomberg New Energy Finance. The market for digitalization is set to grow to $64bn by 2025.
The largest driver for digital technology revenues in 2025 will be smart meters, growing 44% between now and 2025, to $26bn. Home energy management technologies will see the most significant change in digital revenues, rising from $1 billion in 2017 to $11 billion in 2025.