SINGAPORE, May 18, 2018 /CNW/ -- The Asia-Pacific energy and power industry is undergoing long-term changes with smart technology, new business models, and cross-industry digitization creating tremendous growth opportunities. While companies in this region continue to invest in alternative energy sources, the building energy management sector is moving from passive to active solutions.. Frost & Sullivan expects renewed investments in the oil and gas sector, with advantageous opportunities available in segments such as LNG and refinery.
"Efficient data collection, data monitoring, and data analytics is becoming indispensable. Market participants that offer products with highly precise data analytics capabilities will hold a competitive advantage," said Melvin Leong, Associate Director, Energy & Environment at Frost & Sullivan.
"By adopting customer-centric business models like X-as-a-Service, market participants will be able to improve the overall customer experience and also keep pace with the fast-growing technology trends," he added.
Frost & Sullivan's recent analysis, Asia-Pacific Energy & Environment Industry Outlook, 2018, reveals growth opportunities, regional trends, innovations, industry challenges, companies to actions, investment and capacity trends across key markets including oil and gas, power generation, grids, energy storage, distributed energy, buildings, and water.
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Five regional trends dominating the Asia-Pacific market and illuminating high growth opportunities include:
"Understanding and leveraging cloud services will soon become vital. Companies must integrate cloud services into their portfolios ? either through organic or inorganic growth," noted Leong.
Asia-Pacific Energy & Environment Outlook is part of Frost & Sullivan's Energy & Environment Growth Partnership Service program.
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Asia-Pacific Energy & Environment Industry Outlook, 2018
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