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Infosys Research: Cloud Computing Is Integrated at Every Stage Across the Energy Value Chain

Infosys has released its latest industry analysis, Cloud Radar: Energy Industry Report, highlighting importance of cloud computing in driving growth and transformation within the energy sector. According to the report, the energy sector contributes an above-average annual cloud spend of $37 million, second to only healthcare.

The report builds on the Infosys Cloud Radar 2023 report.

The Cloud Radar: Energy Industry Report highlights the crucial impact of digital technologies in advancing clean energy initiatives and expediting the transition toward a net-zero and circular economy. A closer look of the energy sector reveals that to address the growing demand for a more efficient value chain and advanced infrastructure, energy companies must leverage capabilities of cloud computing and artificial intelligence. These technologies are essential for optimizing operations, enhancing decision-making, and fostering innovation throughout the industry. By integrating cloud solutions and AI, companies can improve resource management, streamline processes, and ultimately drive sustainability in their operations.

Cloud Radar: Energy Industry Report identifies four key findings:

  • Energy companies have utilized only about 45 percent of their cloud investments. The biggest challenges surround managing cost, cybersecurity and cloud ownership across the organization.
  • Cloud computing is a crucial technology enabler across the energy value chain. Companies turn to cloud to generate new revenue streams, replace or update legacy systems, allow access to new technologies, and integrate acquisitions or subsidiaries.
  • Effective leadership and efficient management of cloud initiatives will play a key role. In this era of energy transition, responsible cloud adoption is central to achieve net-zero targets.
  • Cloud spending in energy will increase in the coming year. Key use cases for cloud usage include field operations, asset management, maintenance and repair and customer relationship management.

To view the full report, please visit: https://www.infosys.com/iki/research/cloud-radar-energy-industry-report.html