Singapore, 13 April 2018 – Year 2017 was a transition period for long-term changes in the global energy and environment markets. Technology continues to be a key disruptor across industry segments. In addition, against a backdrop of global uncertainty, key focus areas for companies today are high operational efficiency, risk mitigation, optimizing production and cost savings. To achieve these, digitalization initiatives play a critical role. Companies in the energy and environment markets continue to invest heavily in the clean energy sector and the use of smart technologies across the industry value chain is on a growth trajectory.
Since the beginning of 2018, there have been renewed investments in the oil & gas (O&G) sector and opportunities continue to be rife in the LNG and refinery segments. In the power generation sector, solar power will overshadow cheap coal as the fastest growing segment in the Asia Pacific (APAC) region. Business models for power utilities will undergo slow and steady transformation as growing interest in distributed energy and microgrid threatens the conventional power industry’s supply chain.
The buildings industry in the APAC region will also continue to witness changes in the areas of energy management and facilities management (FM). Building energy management will move from passive to active solutions, while the Asian FM market will witness heightened M&A activity for vertical, geographic and capability expansion.