Global Energy and Utility Analytics Market is valued approximately at USD 2.3 billion in 2018 and is anticipated to grow with a CAGR of more than 13.5% over the forecast period 2019-2026. Energy and Utilities analytics are used by companies to track the power consumption of their consumers using technology. The introduction of smart meters and smart grids have enabled energy and utilities providers to allocate services efficiently and reduce costs. The increasing adoption of cloud-based technology, big data analytics and use of open-source technologies by various industries which are emphasizing on increasing business revenues create a lucrative demand for this market. The increasing demand for energy, rising government initiatives for healthy environment, and increasing demand from the consumer to know their energy consumption pattern as well as rising demand for smart grids and smart meters are the few factors responsible for high CAGR of the market over the forecast period. For instance, in 2018, U.S. electric utilities had about 86.8 million advanced metering infrastructure installations including meters that measures and provide electricity usage data to both the utility and the utility customers at least once a day. However, security concerns as well as compatibility issues and skill gap are the major factors restricting the growth of global Energy and Utility Analytics market during the forecast period.
The regional analysis of global Energy and Utility Analytics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in advancements in IoT and increase in the demand for bid data analytics, cloud-based technologies and government policies across the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period of 2019-2026.
Major market player included in this report are:
International Business Machines (IBM) Corporation
Cisco Systems Inc.
Eaton Corporation Inc.
Schneider Electric SE
TIBCO Software Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Load Research and Forecasting
Meter Operation and Optimization
Transmission and Distribution Management
Emergency Response Management
By Deployment Model:
By Industry Vertical:
Energy’ Oil’ and Gas Vertical
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Energy and Utility Analytics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers