Energy and Utility Analytics Market is expected to grow at a CAGR of 16.77% during the period of prediction, reaching $9.5912 Billion by 2030.
Research Reports
Aug 29, 2023
Market overview:
Energy and Utility Analytics Market Size is estimated at 2.30 billion in 2021 and will grow to 9.5912 billion by 2030, at a CAGR of 16.77% during the forecast period (2022 – 2030).
The decrease in global energy is a major issue for the world. Some global organizations are actively prepared to overcome this crisis. In the last few years, the demand for energy has continuously increased in industrial areas as well as higher organizations. Due to the growing population of the world and carbon emissions are present attractive offers to adopt the energy saving, energy control, and energy patronage system. In developed countries energy saving and management systems are used for the effective management of the energy.
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Market Competitive Analysis:
Players leading the global energy and utility analytics industry are:
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Eaton Corporation (Ireland)
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General Electric Company (US)
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Capgemini SE (France)
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IBM Corporation (US)
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ABB Ltd (Switzerland)
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SAP SE (Germany)
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Tibco Software Inc. (US)
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Schneider Electric (France)
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Oracle Corporation (US)
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Ericsson (Sweden)
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SAS Institute Inc. (US)
Energy and Utility Analytics Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 9.5912 Billion (2030) |
| Market CAGR during 2022-2030 | 16.77% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | Increasing energy demand in developing and developed countries. Focus on green energy generation. |
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Energy and Utility Analytics Market Segment:
The market of energy and utility analytics can be divided into the based-on components, area, application, according to market and types.
In the division of the component, it can further divide into the solution, Belongings management analytics, Smart grid Analysis, Risk, customers, financial analytics, logistics and supply chain, services, and others.
According to belongings is can be divided into on-cloud, on-premise, and the hybrid. The hybrid is combination of the above both deployments.
Based on application it is classified as predictive maintenance, energy prophecy, revenue assurance, energy distribution, energy transmission management, optimization of meter, and others.
Based on market it is divide as energy, oil, natural gas, renewable energy, nuclear power, etc.
Based on type it can be software as well as service.
Regional Analysis
North America dominates the global energy and utility analytics market. The largest market share is attributed to the presence of leading solution providers investing heavily in R&D to enhance their solutions’ capabilities, which increases operational efficiency.
Europe stands second in the global energy and utility analytics market. The market growth is driven by well-established infrastructure, high technical expertise, and increased cloud platform adoption. Additionally, the rising deployments of renewable energy generation systems and increasing demand for power in this region foster energy and utility analytics market revenues. Furthermore, the increasing adoption of renewable sources and growing energy consumption create considerable demand for energy and utility analytics.
The Asia Pacific energy and utility analytics industry is growing rapidly. Factors such as the rising adoption of IoT technology and cloud platform across the region boost the market growth. Furthermore, government initiatives such as smart city projects create a substantial demand for analytical solutions for demand forecasting, load management, and enhancing operational efficiency.
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Industry Developments in Energy and Utility Analytics:
In May 2022, Siemens introduced PSS-E, its time-tested transmission grid modeling software, to the cloud. It makes use of the same software and user interface, as well as over 2,000 APIs in addition to current scripts.
Eaton improved its intelligent power solutions in April 2020 with the debut of its revamped PredictPulse remote monitoring and management service in the United States. PredictPulse’s latest edition features a completely updated client interface for both browsers and mobile devices.
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