Electrification, digitalisation and sustainability are driving both energy management business opportunities and the shift to a new energy landscape, according to energy management and automation technology firm Schneider Electric.
The company sees high growth opportunities in energy management technology as it can help reduce costs for organisations and increase operating efficiency, said Stephane Nuss, Schneider Electric's cluster president for Thailand, Myanmar and Laos.
Electrification is the process of replacing technologies that use fossil fuels such as coal, oil or natural gas with technologies that use electricity as the energy source.
Mega-project investments in the Eastern Economic Corridor, trends regarding renewable energy and the bio-, circular and green economic model, as well as investments by global tech firms in data centres are driving the current trends of electrification, digitalisation and sustainability, he said.
Over the past three years, challenges related to the pandemic accelerated digitalisation among organisations, while the energy crisis drove demand for electrification.
Climate change also accelerated adoption of the sustainability concept.
According to Mr Nuss, 2022 was an outstanding year for Schneider Electric globally as it earned its highest revenue, tallying more than €34 billion (1.26 trillion baht), an increase of 12% from the previous year.
The company recorded double-digit revenue growth in Thailand.
"We expect to keep this momentum locally in 2023, driven by electrification, digitalisation and sustainability," he said.
Mr Nuss said Schneider Electric is committed to its climate and social commitments.
The firm said its solutions and services have helped customers around the world reduce carbon emissions by 440 million tonnes since 2018.
In 2022, the firm said it helped its clients reduce their carbon emissions by more than 90 million tonnes.
He said the company envisions a new energy landscape, reflecting a shift from centralised power production to decentralised power production, including the use of the alternative energy.
