Energy Trading and Risk Management Market to Grow by USD 399 million from 2022 to 2027 | Market driven by rising demand for smart grids globally- Technavio
NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The energy trading and risk management market by application (Power, Natural gas, Oil and products, and Others), type (Software and Service), and geography (North America, APAC, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027 report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the energy trading and risk management market between 2022 and 2027 is USD 399 million. The rising demand for smart grids globally is notably driving the energy trading and risk management market growth. Investments in smart grids are rapidly increasing worldwide. As a result, several economies are becoming more efficient in their energy usage. The demand for power supply is rising, while transmission in APAC is declining, leading to an increase in the smart grid market. The efficiency, quality, reliability, and security of the power distribution system in these regions have improved due to the policies and regulations implemented by North American and Asian governments. Therefore, the energy trading and risk management market is expected to grow during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
The energy trading and risk management market is segmented by Application (Power, Natural gas, Oil and products, and Others), Type (Software and Service), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
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Key Companies in the energy trading and risk management market:
ABB Ltd., Accenture Plc, Amphora Inc., Brady Technologies, CommodityPro, EKA Software Solutions, Enuit LLC, Enverus Inc., Fendahl International, Fidelity National Information Services Inc., IGNITE CTRM LLC, ION Group, nGenue LLC, Open Access Technology International Inc., Publicis Sapient, SAP SE, The MathWorks Inc., and TMX Group Ltd.
The rising demand for smart grids globally is notably driving market growth. Smart grids are receiving significant investments globally, leading to more efficient energy usage in many economies. Power engineers utilize trading and risk management software to analyze real-time data, maximizing power system output and improving grid reliability and energy efficiency. The market for smart grids is expected to grow due to increasing demand for power supply and declining transmission in the APAC region. Policies and regulations implemented by North American and Asian governments have improved the efficiency, quality, reliability, and security of power distribution systems in these regions. Owing to the growing adoption of smart grids, the global trading and risk management market is expected to grow during the forecast period.
Energy data security-related concerns are a significant challenge hindering market growth. Energy and utility organizations have become targets for hackers, cyber terrorists, and foreign governments in recent years. A catastrophic disruption of the system can be caused by relatively few keystrokes from anywhere on Earth. It has been observed that cyberattacks on public utilities and energy service providers have been primarily focused on reconnaissance rather than data theft. Although modern techniques have significant benefits over traditional methods, cyber threats are on the rise. Furthermore, the number of cyber threats will increase as more people demand IoT integration into utilities, which will also increase the use of remotely accessible functions. Therefore, the security concerns regarding energy data are anticipated to negatively affect the global energy trading and risk management market during the forecast period.
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Drivers, Challenges, & Trends
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