Digitalization market in the energy sector to reach $64B by 2025
The findings of a new report launched by Bloomberg New Energy Finance (BNEF), Digitalization of Energy Systems, point to a gradual shift toward digitalisation in the power and energy sector.
According to the report, the global market for digitalisation in the energy sector is projected to grow to $64 billion by 2025 and new energy innovations will be centred on digital technologies and the strategic use of data, reports ESI-Africa.
The report predicts significant shifts in the intelligence of digital technologies used in energy from today to 2025, and a big change in the sectors of the energy system that most benefit from these technologies.
“By 2025, digital technologies will be more intelligent and more capable, helping homeowners that own rooftop solar, batteries or EVs (often termed ‘prosumers’), to become more autonomous and derive greater value from these assets,” according to BNEF.
In Africa, Nigeria has been identified as a pack leader for digitalisation of the power and energy sector due to beneficial government policies, unique start-ups and the rollout of network infrastructure.